Banco de Crédito del Perú (BCP) has partnered with Microsoft and Kyndryl, to modernize BCP's IT systems with hybrid cloud and help Peruvians gain greater access to digital banking services. This agreement represents BCP's investment of more than $650 million over five years, making it one of the largest technology investments in Latin America's financial services sector. As part of this agreement, BCP will work with Kyndryl and leverage Microsoft Azure to create a hybrid computing environment that will enable the modernization of the bank's IT application environment and improve the agility and availability of its digital channels, generating greater value for the end customer who will benefit from a smoother and faster online and mobile experience.

This milestone reaffirms BCP's commitment to continue leading digital banking in Peru. Currently, BCP's mobile banking and Yape are the most used banking applications and digital wallets in the country. 72% of BCP's customers are digital and more than 16 million Yape users in Peru use the application at least once a day, reaching 27 million daily transactions on average.