Business Wire

Temenos Announces Composable Banking Services on the Temenos Banking Cloud Platform

Share

Temenos (SIX: TEMN), the banking software company, today announced Composable Banking Services and Capabilities aligned to the BIAN (Banking Industry Architecture Network) service landscape on the Temenos Banking Cloud. In addition, Temenos delivers new banking services and technology advancements that create the market's most comprehensive, cloud-native platform for composable banking. These new banking services are showcased at Temenos Sales Kick-Off, 18-21 January and will be presented at Temenos Community Forum, 17-19 May 2022.

Temenos has advanced its technology architecture and banking capabilities to deliver the most open and secure cloud-native platform for composing, extending or deploying banking capabilities at scale. New pre-composed banking services on the Temenos Banking Cloud can be rapidly 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. This helps banks and non-banks to bring innovative products to market faster to meet growing customer expectations while reducing the cost of development.

Temenos' new extensibility framework enables banks or BaaS providers to safely explore additional banking services and capabilities, configure or even extend their functionality, and use the extended catalog of country model banks currently available to accelerate time to value and ensure local compliance. Temenos' partners can also make use of this feature to write country-specific extensions to Temenos Banking Services without touching their core functionality.

The platform also uniquely includes Temenos' Explainable AI (XAI) and Data service domains. Banks can easily deploy new capabilities to better test, report and measure product performance, and gain insights to support smarter business decisions and hyper-personalized banking.

New Temenos Banking Services include Buy Now, Pay Later, Challenger Bank, Retail Lending, Payment Fraud Mitigation, KYC Customer Risk Assessment and in the near future Digital Mortgages and Demand Deposits Accounts. These services can be rapidly deployed on the Temenos Banking Cloud, on any public cloud, or on premise, with a single code base, no matter the size, activity, or location of the bank.

Larger banks can also choose individual Temenos Banking Capabilities such as Lending, Deposits, Accounts or Virtual Accounts and quickly integrate them independently in their systems landscape.

Based on DevOps, the Composable Banking Services allow for continuous integration and delivery, fast testing, removing the need for major upgrades and leveraging always the latest services features. With the Temenos Banking Cloud, banks can access the pre-composed banking services, the underlying packaged Temenos Banking Capabilities, or a full out-of-the box country model bank, without painful integration efforts.

Ivan Mazzoleni, Chief Executive Officer, Flowe: "Flowe went live in a record time of just 5 months, onboarding 15,000 customers in its first week. In the first six months, Flowe attracted more than 600,000 customers. Supported by Temenos Banking Cloud, Flowe can grow sustainably, passing on benefits to customers for a cleaner, greener planet and a better society."

Max Chuard, Chief Executive Officer, Temenos, said: "Our research shows that 76% of banks simply cannot cover their cost of capital. Banks are still burdened by legacy systems, which make it very risky, costly and slow to provide a differentiating and personalized, omnichannel customer experience. Doing nothing is no longer an option in this competitive environment. Banks need a new approach to run their business.

Our industry-leading platform enables banks to open up to fintechs and partners, rapidly digitalize their processes, and deliver hyper-personalized experiences. We are giving banks the business agility and speed to improve their operations, lower their costs up to 75% and build sustainable businesses."

Temenos' new composable banking services are gaining traction with Banking-as-a-Service providers, such as Green Dot, Mbanq and Vodeno. These BaaS players are looking to extend their banking services to banks and businesses moving towards embedded finance to offer banking products to customers outside their own ecosystem – such as letting people pay for goods on Amazon using the bank's rewards points.

"Organizational size, location, and lack of technical skills are no longer significant challenges to transformation in banking, all banks have a choice on how to consume and deliver banking services and capabilities," said Jerry Silva, Vice President, IDC Financial Insights. "Even sophisticated tier 1 and 2 banks are incorporating pre-integrated banking services to modernize their legacy banking systems, component by component. Temenos offers such a composable banking services architecture aligned to a common standard, providing functionally rich banking capabilities."

– 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

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

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

LintonPharm to Release Data on Catumaxomab for Advanced Gastric Cancer with Peritoneal Metastasis at 2022 ASCO Annual Meeting27.5.2022 16:00:00 EEST | Press release

LintonPharm Co., Ltd., a China-based biopharmaceutical company focusing on the development of T cell engaging bispecific antibodies for cancer immunotherapy, announces that preliminary results of Catumaxomab for advanced Gastric Cancer (GC) with peritoneal metastasis is published online at the 2022 American Society of Clinical Oncology (ASCO) Annual Meeting. Abstract Number:e16102 Abstract Title: Global multi-center phase I trial of the intraperitoneal infusion of anti-EpCAM x anti-CD3 bispecific antibody catumaxomab for advanced gastric carcinoma with peritoneal metastasis. The abstract is about the cohort A, stage I of the ongoing global phase Ⅲ trial that evaluating the safety and efficacy of Catumaxomab in advanced GC patients with peritoneal metastasis (clinicaltrials.gov: NCT04222114). Worldwide, GC is one of the most common cancers, contributing to more than 1 million cases per year and 5.6% of all cancer diagnoses [1]. Approximately 50% of the advanced GC patients will develop

FEELM unveils the world's first ceramic coil disposable pod solution at Vaper Expo UK 202227.5.2022 14:38:00 EEST | Press release

FEELM, the flagship atomization tech brand belonging to SMOORE, today showcased the world's first ceramic coil disposable pod solution series, FEELM Max at Vaper Expo UK 2022 in Birmingham, UK. By launching the solution and showcasing its cutting-edge ceramic coil heating technology, FEELM is introducing ceramic coil to the emerging category of disposable vape. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220527005197/en/ (Photo: Business Wire) As a new category in the ascendant, the disposable vape has been growing in popularity since 2020. The market size of disposable (closed system) vaping product has grown to approximately USD2.125 billion in 2021, accounting for 22.7% of global vaping device market share; and it is expected to increase at a GAGR of over 28% from 2022 to 2026, being the fastest-growing category among all vaping products, according to the estimates of Frost & Suvillian. In 2022, the market size of disp

TYAN Brings Modern HPC Server Platforms for Data Centers at ISC 202227.5.2022 10:00:00 EEST | Press release

TYAN®, an industry-leading server platform design manufacturer and MiTAC Computing Technology Corporation subsidiary, will exhibit its latest HPC platforms powered by 3rd Gen AMD EPYC™ Processors with AMD 3D V-Cache™ technology for data centers deployments at the ISC 2022 event from May 30th to June 1st at booth #D400. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220527005002/en/ TYAN’s Server Platforms Powered by AMD EPYC 7003 Series Processors Provide the Best Foundation for Data Centers that Can be Tailored to Specific Workloads (Photo: Business Wire) “The amount of data generated by humans and machines has increased exponentially and this requires a steady increase of data center compute performance, therefore, modern data centers need balanced hardware to efficiently manage growing data volumes,” said Danny Hsu, Vice President of MiTAC Computing Technology Corporation's Server Infrastructure Business Unit. “TYAN’s ser

Mavenir’s Containerized Open vRAN Small Cell Solution Wins Award for Outstanding Contribution to Emerging Technology or Architecture27.5.2022 10:00:00 EEST | Press release

Mavenir, the Network Software Provider building the future of networks with cloud-native software that runs on any cloud and transforms the way the world connects, today announced to have won the SCF Small Cell Awards 2022 for Outstanding Contribution to Emerging Technology or Architecture, for its design and delivery of the first fully containerized small cell Open Virtualized Radio Access Network (Open vRAN), for indoor and outdoor connectivity. Mavenir’s containerized Open vRAN solution is a first of its kind and combines the interoperability of Open RAN with the portability and flexibility of containers. This small cell solution brings the same future-forward approaches of Open RAN and containerization having significant impacts in macro networks to small cell networks. The deployment of a containerized solution is a significant milestone in the evolution of connectivity, moving away from the physical infrastructure to a digital cloud-based environment. Containers take virtualizati

Takeda and Seagen to Highlight ADCETRIS® Combination Data Showing Statistically Significant Improvement in Overall Survival (OS) for Patients with Advanced Hodgkin Lymphoma27.5.2022 00:25:00 EEST | Press release

Takeda Pharmaceutical Company Limited (TSE:4502) and Seagen Inc., (NASDAQ:SGEN) today announced that overall survival (OS) data from the Phase 3 ECHELON-1 clinical trial of an ADCETRIS® (brentuximab vedotin) plus chemotherapy combination will be presented in an oral session at the 59th American Society of Clinical Oncology (ASCO) Annual Meeting on Friday, June 3, 2022, 1:00-4:00 PM CT, and at the 27th European Hematology Association (EHA) Annual Meeting on Friday, June 10, 2022, 11:30 – 12:45 CEST. “The longer-term follow-up data from the ECHELON-1 trial have significant clinical importance, as this trial represents one of only two frontline randomized studies in advanced stage Hodgkin lymphoma that shows an overall survival advantage for the experimental arm,” said Stephen Ansell, M.D., Ph.D., Mayo Clinic, and ECHELON-1 study investigator. “These results clearly show that the addition of brentuximab vedotin to chemotherapy improves the long-term outcome of patients and the combination

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