Temenos and IBM Collaborate to Accelerate Hybrid Cloud Adoption in the Financial Services Industry
Temenos (SIX: TEMN), the banking software company, today announced the availability of Temenos Transact next-generation core banking with Red Hat OpenShift on IBM Cloud, to accelerate hybrid cloud adoption within the financial services industry. Temenos Transact provides a clear modernization path for banks to adopt a cloud strategy for their core banking systems and take advantage of advanced technologies. The cloud-native banking platform uses Explainable AI and machine learning to offer corporate and retail banking, wealth management, and treasury functionality to financial services institutions across the retail, corporate, treasury, wealth, and payments sectors while helping to lower operating costs.
As banks balance the need to drive innovation by delivering high-value services and the industry's strict security and compliance requirements, hybrid cloud environments have become increasingly important. By onboarding to IBM Cloud, Temenos will use IBM’s industry-leading security capabilities, including confidential computing technology and 'Keep Your Own Key' encryption. Delivered via IBM Hyper Protect Services1 and backed by the highest level of security certification commercially available, these capabilities ensure that financial institutions retain control of their data.
Additionally, Temenos intends to join a growing ecosystem of partners supporting the IBM Cloud for Financial Services and will onboard its offerings to the platform. IBM Cloud for Financial Services is designed to help financial services institutions address the industry’s stringent compliance, security and resiliency requirements while supporting business transformation and innovation. The ecosystem aims to help financial institutions transact with technology vendors that have met the platform's stringent requirements.
Supporting a mutual vision for increasing innovation in the financial services industry, IBM Global Business Services (GBS) created a new Temenos Services Practice. This unit uses IBM technology and Temenos implementation to deliver long-term value for customers. The GBS Temenos Services Practice offers banks resources designed to increase profitability, reduce costs, and offer the flexibility to support future business growth.
Philip Barnett, President of Strategic Growth and Member of Executive Committee at Temenos, said: "We are delighted to extend our leadership in the cloud by bringing Temenos Transact to the IBM Cloud and also join the IBM Cloud for Financial Services ecosystem. This expanded collaboration will help banks accelerate their move to the cloud and the benefits of a modern cloud-native banking platform. With Temenos' AI-powered, API-first technology, banks can innovate faster, open up new business models, and achieve industry-leading cost/income ratios. Integration with IBM Cloud demonstrates that our cloud-agnostic banking platform enables banks to pursue a multi-cloud strategy and have the highest levels of active-active resilience with the cloud provider of their choice."
Hillery Hunter, Vice President and CTO, IBM Cloud, added: "We've been teaming with Temenos successfully for decades to help financial institutions around the world deploy next-generation banking technology, reduce costs and exploit new pockets of profitability. By deploying Temenos Transact with Red Hat OpenShift and IBM Hyper Protect on IBM Cloud, and leveraging our GBS Temenos Services Practice, customers can take advantage of IBM's leadership in cloud, security and professional services to provide personalized, innovative offerings while protecting data in the cloud."
Kelly Switt, Senior Director, FSI Ecosystem and Strategic Partnerships, Red Hat, said: “Red Hat is pleased to collaborate with Temenos to enable the next evolution of financial services based on open source technology. Red Hat OpenShift, the industry’s leading enterprise Kubernetes platform, offers a strong foundation for financial institutions to innovate and scale in a fast-paced industry. By combining the power of Red Hat OpenShift with leading cloud-native banking solutions like Temenos Transact, financial institutions can capitalize on the opportunity of open hybrid cloud to unlock new business and meet customer demands.
Temenos Transact is a cloud-native, cloud-agnostic core banking solution providing functionality across the retail, corporate, treasury, wealth, and payments sectors. Temenos serves over 3000 financial institutions worldwide, including 41 of the top 50 banks.
– Ends –
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.
Red Hat, the Red Hat logo and OpenShift are trademarks or registered trademarks of Red Hat, Inc. or its subsidiaries in the U.S. and other countries.
1 Based on IBM Hyper Protect Crypto Service, the only service in the industry built on FIPS 140-2 Level 4-certified hardware. FIPS 140-2 Security Level 4 provides the highest level of security defined in this standard. At this security level, the physical security mechanisms provide a comprehensive envelope of protection around the cryptographic module with the intent of detecting and responding to all unauthorized attempts at physical access.
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/20210913005942/en/
Contact information
Media Contacts
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
Cross-Border Private Credit Set to Surge, But Operational Complexity Threatens Momentum, CSC Finds4.12.2025 15:30:00 EET | Press release
Cross-border private credit transactions are poised for strong growth, yet operational complexity is emerging as a critical hurdle. According to CSC, the leading provider of business administration and compliance solutions, an overwhelming 92% of limited partners (LPs) express concern over the complexity of these deals. Published in CSC’s latest report, Private Credit 2025: Global Strategies for a $1.5 Trillion Market, the findings highlight a growing disconnect between investors and fund managers as private credit continues its rapid international expansion. 1 While both LPs and general partners (GPs) remain optimistic about the growth of cross-border private credit, they diverge sharply when it comes to operational readiness. Nearly eight in 10 GPs (79%) anticipate growth in the sector over the next three years, with more than half (51%) expecting a significant acceleration. LPs, however, are increasingly cautious—40% reported turning down multiple fund or investment opportunities la
Pace selected by Prudential Financial to help automate its insurance operations with agentic AI4.12.2025 15:15:00 EET | Press release
Pace, the agentic workforce for insurance, was chosen by Prudential’s Individual Life Insurance (ILI) business to help simplify and improve its service delivery. Pace’s AI-powered agents are now streamlining policy servicing and supporting quality assurance efforts within Prudential’s ILI business. The first set of automated systems is now live taking on thousands of hours of work. “Our work with Prudential is an example of how AI can be used as a strategic advantage,” said Pace CEO Jamie Cuffe. “We’re thrilled to support their exceptional team with AI agents in production today that deliver best-in-class accuracy and speed at significant scale.” This multi-year agreement between Pace and Prudential’s ILI business began as a pilot and quickly moved to full production after demonstrating clear improvements in speed and operational efficiency. “We’ve taken a step forward on our journey to modernize the customer acquisition process,” said Sara Atkinson, vice president of customer acquisit
Redefining Acromegaly Care: First Patient Randomized in Debiopharm’s Phase III OXTEND-03™ Trial of 3-Month Debio 4126 Treatment4.12.2025 15:00:00 EET | Press release
Debiopharm (www.debiopharm.com), a privately-owned, Swiss-based biopharmaceutical company committed to establishing tomorrow’s standards of care in oncology and rare diseases, today announced that the first patient has been randomized in the OXTEND-03™ clinical trial. This pivotal Phase III trial is designed to evaluate the efficacy and safety of Debio 4126, a novel long-acting octreotide formulation and the first potential 3-month somatostatin analogue (SSA), in adults with acromegaly who are currently maintained on somatostatin analogs. OXTEND-03™ is a global trial spanning approximately 75 sites across 21 countries, aiming to enroll around 120 patients. The primary goal of the trial is to confirm Debio 4126’s ability to maintain biochemical control of the disease while significantly reducing the patient’s annual treatment burden from 12 injections to just 4. This shift is expected to enhance patient convenience, improve long-term adherence, and potentially decrease healthcare resour
Visa Launches Global Art Collection to Elevate Creators and Celebrate the FIFA World Cup 26™4.12.2025 15:00:00 EET | Press release
Visa today unveiled the first five pieces in its first-ever global art collection celebrating the cultural energy of the FIFA World Cup 26™. Featuring more than twenty artists from six continents, the collection reflects Visa’s belief that creativity drives commerce—and that today’s creators are the entrepreneurs shaping communities and culture around the world. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251204080105/en/ Darien Birks (Global) Visa debuted the first five pieces in the collection at an exclusive Miami showcase, “The Art of the Draw”, hosted by multidisciplinary creator KidSuper. The showcase featured the works of artists Darien Birks, Nathan Walker, Cesar Canseco, Ivan Roque, and Rafael Mayani that celebrate the culture and traditions of each host country and host city Miami. The full collection will be unveiled globally ahead of next summer’s tournament. Commerce Meets Culture Visa will collaborate with J
Parse Biosciences Launches Evercode Whole Blood Fixation4.12.2025 15:00:00 EET | Press release
Parse Biosciences, a leading provider of accessible and scalable single cell sequencing solutions, today announced the launch of Evercode™ Whole Blood Fixation, a new kit that enables immediate fixation of whole blood directly at the point of collection. The technology eliminates the need for on-site PBMC isolation, specialized equipment, or trained personnel, allowing translational hematology and pharmaceutical research teams to seamlessly collect blood samples in real-world clinical settings for downstream single cell analysis. Traditional single cell RNA profiling workflows done in a translational setting require a compromise between processing fresh samples, which degrade rapidly and demand skilled handling, and using fixation approaches that capture only a partial transcriptome and cannot provide paired TCR sequences. Fresh PBMC isolation also requires complex workflows and specialized reagents. Evercode Whole Blood Fixation overcomes these limitations, preserving the comprehensiv
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