Italian Digital Bank Achieves Record Growth with Temenos Banking Cloud
10.5.2022 10:20:00 EEST | Business Wire | Press release
Temenos (SIX: TEMN), the cloud banking platform, announced that Flowe, the digital bank of Banco Mediolanum, has reached a major milestone with 700,000 accounts in its first 18 months since its launch. With Temenos open platform for composable banking, Flowe is growing twice as fast as its nearest competitor. It received 150,000 new sign-ups in one week with peaks of 30,000 new customers per day.
Flowe offers digital services at scale, paving the way for future profitability and bringing sustainable banking to over 60 million Italians. Supported by Temenos cloud technology, Flowe is the first bank in Italy to be certified as a B-Corp and become carbon neutral. Flowe’s CEO will be speaking on the topic of ESG at Temenos Community Forum, 17-19 May in London.
Flowe’s mobile banking app combines fully-automated onboarding, a first-class user experience and eco-friendly banking services. Its target market consists of young people who need to manage their money effectively to pay rent and other bills and prefer to use innovative, ethical service providers.
Through a fully remote implementation with Temenos, Flowe went live in a record time of just five months, in June 2020. Temenos pre-composed banking services and simple customization through open APIs significantly accelerated the process. The bank’s highly differentiated value proposition has paid off – in 2021, Flowe won the prestigious Prodotto Dell’Anno (Product of the Year), an Italian product innovation award based exclusively on consumers’ votes.
Ivan Mazzoleni, Chief Executive Officer, Flowe: “We chose Temenos Banking Cloud because it enabled us to go live fast, scale massively, and provide a seamless onboarding experience to our customers. Flowe went live in a record time of just five months, and we onboarded 15,000 customers in our first week alone. With Temenos, we’ve been able to bring new products to market quickly and offer truly personalized experiences in line with our sustainable mission. Supported by Temenos Banking Cloud, we can grow sustainably, passing on benefits to customers for a cleaner, greener planet and a better society.”
Max Chuard, Chief Executive Officer, Temenos, said: “Digital innovation in banking is thriving in Italy. And it’s an important market for Temenos, where we have a strong and growing presence. Banks are ready to break free from the legacy core banking systems that have inhibited innovation, whereas new digital entrants are coming to the market. Flowe’s success shows that Temenos open platform for composable banking can help Italian banks provide highly-differentiated, sustainable banking experiences at scale. Congratulations to the team for demonstrating that a powerful mission combined with leading technology can change the face of banking.”
Cloud adoption has accelerated since the pandemic. A recent Economist Intelligence Unit report supported by Temenos finds that more than seven in ten banking respondents state that incorporating the cloud into their organization’s products and services will help them achieve their business priorities. Challenger banks specifically look for agility, scale, and easily composable banking services that allow them to assemble best-of-breed providers into an open ecosystem. On Temenos Banking Cloud, pre-composed banking services can be consumed from a self-service portal, easily configured, extended, or deployed anywhere. Composed Temenos Banking Services consist of pre-configured and pre-assembled Temenos Banking Capabilities plus optional integrated third-party solutions from the Temenos Exchange.
About Temenos
Temenos AG (SIX: TEMN) is the world’s leader in banking software. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 1.2 billion banking customers. Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence.
Temenos software is proven to enable its top-performing clients to achieve cost-income ratios of 26.8% half the industry average and returns on equity of 29%, three times the industry average. These clients also invest 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks’ IT investment is adding tangible value to their business.
For more information, please visit www.temenos.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220509006301/en/
Contact information
Jessica Wolfe & Scott Rowe
Temenos Global Public Relations
Tel: +1 610 232 2793 & +44 20 7423 3857
Email : press@temenos.com
Alistair Kellie & Andrew Adie
Newgate Communications on behalf of Temenos
Tel: +44 20 7680 6550
Email: allnewgatetemenos@newgatecomms.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Omilia Appoints Ryan Kam as Chief Marketing Officer to Lead Global Brand and Growth Strategy22.7.2026 15:00:00 EEST | Press release
Omilia, a global leader in Self-Learning Agentic CX, today announced the appointment of Ryan Kam as Chief Marketing Officer (CMO). Ryan will be responsible for Omilia's global brand, demand generation, and marketing strategy as the company scales its go-to-market presence across enterprise markets. In his new role, Kam will own Omilia's global marketing function, spanning brand strategy, demand generation, product marketing, analyst relations and communications. He joins at a moment of significant commercial momentum: Omilia has seen accelerating enterprise demand across all industries and is investing in a marketing engine built to match the pace of its growth. Ryan Kam brings more than 20 years of marketing leadership across some of the most recognized names in enterprise technology. Most recently, he served as CMO at Egnyte, a leader in cloud content security and governance. Prior to that, Kam held the CMO role at LogicMonitor, where he drove growth for one of the leading infrastruc
Echodyne Announces ATAK Integration for MESA® Radar Platform22.7.2026 15:00:00 EEST | Press release
Echodyne, the radar platform company, today announced the availability of an Android Team Awareness Kit (ATAK) plugin for its MESA® radar platform. The integration enables users to configure, control, and visualize data from Echodyne radars within the ATAK environment, supporting military, public safety, and security operations that rely on TAK for shared situational awareness. The plugin extends radar management and visualization capabilities to ATAK users, allowing high-fidelity radar data and system controls to be accessed through a familiar operational interface. By integrating radar data into existing TAK workflows, organizations can streamline deployment, reduce operator workload, and improve access to real-time situational awareness. TAK is a government-developed geospatial platform used across U.S. military, federal, state, and local government organizations, as well as by U.S. partner nations. According to the U.S. Army TAK Product Center, the TAK ecosystem supports 15 Departm
OneSpan Introduces DigipassONE, Bringing a Unified Platform Approach to Authentication Modernization22.7.2026 15:00:00 EEST | Press release
Organizations are under increasing pressure to modernize authentication while supporting existing infrastructure, meeting evolving regulatory requirements, deploying emerging technologies, and reducing operational complexity. For financial institutions in particular, authentication modernization must balance security, compliance, and operational efficiency while meeting the evolving expectations and preferences of their customers. Yet the journey to modern authentication is rarely a single technology transition. Organizations must continue supporting multiple authentication methods while gradually adopting new technologies, making it essential to modernize without disrupting existing environments, user experiences, or business operations. To help organizations navigate this transition, OneSpan Inc. (NASDAQ: OSPN) today announced DigipassONE™, its unified platform for authentication, transaction security, in-app protection, analytics and digital credential innovation. DigipassONE introd
StructureCraft Scales Data-Driven Design on NetApp22.7.2026 15:00:00 EEST | Press release
NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced that StructureCraft, an award-winning global structural engineering and construction firm known for complex timber and hybrid builds, is now using NetApp to modernize and create an AI-ready data infrastructure. The new infrastructure enables the company’s employees to collaborate globally, store and manage large-scale design workloads, and take advantage of AI-driven tools on a scalable, centralized platform. StructureCraft specializes in innovative timber engineering, structural design, and sustainable building solutions for large-scale architectural projects worldwide. Its globally distributed team delivers complex projects across North America, Europe, and Asia, guided by a core purpose to engineer and build beautiful, efficient structures. The StructureCraft team regularly takes on complex projects such as designing and constructing of the Barbados National Performing Arts Pavilion, a ground-breaki
New Visa Data Reveals How the FIFA World Cup 2026™ Created Pop-Up Economies Across Canada, Mexico and the United States22.7.2026 14:00:00 EEST | Press release
After the final whistle blew on the FIFA World Cup 2026™, millions of fans returned home with unforgettable memories and a trail of economic activity that stretched across countries. Every tap to pay left a lasting impact, as spending throughout the tournament delivered a meaningful boost to merchants and local economies across host cities in Canada, Mexico and the United States. According to new data from Visa, the tournament drove significant growth in cross-border spending, international travel, and digital commerce across host cities. The findings show how a major global event creates “pop-up economies,” defined by Visa as temporary, highly concentrated periods of commercial activity that emerge around major cultural, entertainment and sporting events. The data reveals that fans traveled from around the world to follow their teams, generating a surge in Visa cardholder spending across restaurants, transportation, entertainment, retail, lodging, and other sectors. From iconic host c
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom