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Temenos transforms banking with The Temenos Banking Cloud to speed up SaaS and AI adoption with prompt entry to Sandbox, Banking Providers, and MarketPlace


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  • For the primary time, banks can now self-provision probably the most full banking providers on the click on of a button
  • With Temenos, banks can innovate in minutes and launch new merchandise in days to realize the trade’s quickest time to market
  • With Temenos Banking Cloud, banks can acquire enterprise agility to create new income streams, massively scale and considerably scale back their value of operations to 10% of legacy techniques
  • The Temenos Banking Cloud brings the unrivaled breadth of Temenos front-to-back Banking Providers, an innovation Sandbox, and probably the most full fintech MarketPlace, powered by an Explainable AI-enabled engine all via an easy-to-access, self-service portal

GENEVA — Temenos (SIX: TEMN), the banking software program firm, is accelerating its management within the cloud by introducing the next-generation in SaaS, The Temenos Banking Cloud. This combines the trade’s most full banking providers, masking all segments and all geographies, with a Sandbox for quick innovation and the Temenos MarketPlace for fintech collaboration, all powered by a brand new AI-enabled engine to drive banks’ enterprise development and speed up time to market. With Temenos Banking Cloud, banks now have the ability to self-provision always-on banking providers and scale immediately and securely whereas dramatically decreasing the price of operations to 10% of legacy techniques. Be part of TCF On-line with over 10,000 attendees, to search out out extra.

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Max Chuard, Chief Govt Officer, Temenos, stated: “Banks face large challenges – fierce competitors, rising buyer expectations, value pressures. Analysis exhibits that for fairly a while 70% of banks can not cowl their estimated value of capital. Banks can now not wait; they want a brand new strategy to run their enterprise and develop banking merchandise.

Constructing on over 10 years of cloud management, $1 billion in R&D funding and the expertise of over 700 SaaS clients starting from world banks to over 70 challengers, we’re delivering the next-generation in SaaS, The Temenos Banking Cloud.

The Temenos Banking Cloud is for each digital-first banks that wish to launch in weeks in addition to massive or complicated banks that wish to purchase distinct capabilities, launch merchandise quick and progressively migrate buyer bases which can be serviced by legacy techniques.

We’re placing banks answerable for their enterprise fashions and innovation cycles, giving them the agility and pace to construct nice buyer merchandise and worthwhile companies. With The Temenos Banking Cloud, we empower banks to digitally rework and massively scale sooner than ever.”

Chris Sozou, Common Supervisor Platforms, Partnerships & Analytics, Virgin Cash Australia, stated: “Our digital financial institution has been designed with a transparent ambition to simplify banking and assist clients obtain their monetary objectives. With Temenos SaaS, we will ship a frictionless digital expertise, bringing collectively bank cards, transactions, and financial savings accounts, plus a loyalty program in a single, native cellular app. With The Temenos Banking Cloud, it’s simpler to combine with third events and we have now an agile platform that simply scales up or down relying on enterprise calls for.”

The Temenos Banking Cloud provides banks the liberty to innovate sooner, transfer from a CapEx to an OpEx mannequin and profit from a decrease complete value of possession. Varo Financial institution, utilizing Temenos SaaS, estimates that it providers clients at 25% of the entire prices incurred by a standard financial institution. Banks utilizing The Temenos Banking Cloud have benefited from prompt and big scalability. A European challenger financial institution opened over 600K accounts in 3 months. Whereas a worldwide digital disruptor noticed a staggering variety of over 20M mortgage functions processed inside 9 months. They’re already including over 100K new loans per day which is predicted to succeed in 200K loans per day. Over 700 monetary establishments use Temenos SaaS reminiscent of Al Ain Finance, Alpian, Flowbank, Flowe, Itau, Orange Financial institution and they’ll now profit from all the brand new wealthy options of The Temenos Banking Cloud.

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Dan Dickinson, Chief Data Officer, EQ Financial institution, stated: “As Canada’s first digital-only challenger, we turned to Temenos SaaS to simply scale to satisfy buyer demand, develop deposits far more shortly at a decrease value, and cross on the advantages to our clients. With The Temenos Banking Cloud, we will speed up our enterprise development and profit from limitless innovation via the Sandbox and Temenos MarketPlace capabilities.”

The Temenos Banking Cloud removes the complexity, enabling banks to focus on their clients slightly than their know-how. With the contact of a button, banks can activate new banking providers, scale immediately, construct new functions, plug into the richest fintech market, and proactively handle utilization and repair well being. With The Temenos Banking Cloud, banks acquire:

  • Quicker to time market with Banking Providers: The trade’s main front-to-back Banking Providers with localized performance from over 150 nations, masking all banking segments. The Banking Providers are created utilizing Packaged Enterprise Capabilities,1 that are aligned to the BIAN requirements. They’re extensible, versatile and open, and may be simply configured and built-in with exterior functions. The Banking Providers may be consumed immediately, are pay-as-you go, and repeatedly up to date safely with out the necessity for giant upgrades. These Banking Providers are constructed for banking, they provide enterprise-grade controls to handle mission-critical techniques.
  • Limitless innovation within the Sandbox: Temenos Sandbox allows banks to innovate sooner by exploring new Temenos performance, practice their builders, and create new functions. The Sandbox contains entry to Temenos Banking Providers, Temenos MarketPlace, instance knowledge, and integration instruments to allow banks to configure new merchandise. The Sandbox additionally affords high-quality well-documented APIs, that are important connectors of open structure. Banks can select to maneuver to manufacturing environments within the cloud or on-premise.
  • Collaborate with probably the most full fintech market: Immediate entry to Temenos MarketPlace, with probably the most progressive fintechs reminiscent of Plaid, Taurus, Tink, and Smart. The fintech options are pre-integrated to allow them to be quickly consumed for a fast time-to-value. Builders can work with open APIs to increase their banking providers by inviting fintechs and builders to the Sandbox atmosphere and collaborate.

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The Temenos Banking Cloud is powered by an Explainable AI engine with superior knowledge analytics, so banks can take a look at, report and measure product efficiency, and acquire perception to help enterprise choices and product design. By the self-service portal, IT customers and builders can spin up totally provisioned environments, profit from real-time dashboards on utilization and billing, configure permissions and handle safety credentials. Temenos AI advisors provide suggestions to banks to proactively handle utilization and repair well being.

The Temenos Banking Cloud affords multi-layered safety, complete compliance protection, and the best availability throughout the globe. Temenos’ cloud-native, cloud-agnostic know-how structure is micro-services-based and API-driven to optimize the usage of the underlying cloud platform providers.

– Ends –

About Temenos

Temenos AG (SIX: TEMN) is the world’s chief in banking software program. Over 3,000 banks throughout the globe, together with 41 of the highest 50 banks, depend on Temenos to course of each the day by day transactions and consumer interactions of greater than 1.2 billion banking clients. Temenos affords cloud-native, cloud-agnostic and AI-driven entrance workplace, core banking, funds and fund administration software program enabling banks to ship frictionless, omnichannel buyer experiences and acquire operational excellence.

Temenos software program is confirmed to allow its top-performing shoppers to realize cost-income ratios of 26.8% half the trade common and returns on fairness of 29%, thrice the trade common. These shoppers additionally make investments 51% of their IT funds on development and innovation versus upkeep, which is double the trade common, proving the banks’ IT funding is including tangible worth to their enterprise.

For extra info, please go to www.temenos.com.

1 Based on BIAN, Packaged enterprise capabilities (PBCs) are software program elements representing a well-defined enterprise functionality, functionally recognizable as such by a enterprise use.

View supply model on businesswire.com: https://www.businesswire.com/information/residence/20210525005869/en/

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Contacts

Media
Jessica Wolfe & Scott Rowe
Temenos International Public Relations
Tel: +1 610 232 2793 & +44 20 7423 3857
Electronic mail : press@temenos.com

Alistair Kellie & Andrew Adie
Newgate Communications on behalf of Temenos
Tel: +44 20 7680 6550
Electronic mail: allnewgatetemenos@newgatecomms.com

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In-depth reporting on the innovation economic system from The Logic, dropped at you in partnership with the Monetary Publish.

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