Business Wire

Temenos Launches New SaaS Propositions to Help Banks Respond to Covid-19 While Accelerating Their Digital Transformation

Share

Temenos (SIX: TEMN), the banking software company, today announced the launch of eight propositions – using innovative Explainable AI (XAI) and cloud technologies – to help banks in their immediate response to the Covid-19 crisis. Temenos is supporting banks to ensure business continuity, enhance digital engagement to meet clients’ changing needs, and manage socioeconomic pressures. These Covid-19 propositions are immediately available worldwide. Delivered as Temenos SaaS, they are deployed quickly, easily and can be implemented remotely, if required.

Temenos is bringing together its dynamic community at Temenos Community Forum Online on 29-30 April to explore ‘Solutions for the New Normal’. Over 5,000 attendees have registered for the action-packed, virtual summit, with 43 product announcements, 49 live Q&A sessions with Temenos experts and over 30 demos showing Temenos’ latest innovations from cloud to digital engagement technologies and Explainable AI. At TCF Online Temenos will showcase how its solutions are addressing the fast-growing needs for digitalization, personalization and greater agility, solving the immediate Covid-19 challenges and creating sustainable business models for the future.

Max Chuard, Chief Executive Officer, Temenos, said: “I am proud of the AI and cloud-advanced propositions we have delivered to help banks address their most pressing needs during Covid-19. I am also proud of our family of Temenos employees, who have worked tirelessly to make this response a reality. As the leader in banking software, we are relentlessly investing in R&D to keep banks running as they assist SMEs, corporate and retail customers at a time of financial distress. In the ‘New Normal’, the need for modern digital banking will be greater than ever. Only Temenos can provide banks the richest banking functionality and the most advanced cloud-native technology to help them deliver value to their customers and build sustainable growth in the future.”

To support banks, Temenos launched the following AI-driven SaaS technology propositions which are immediately available to help banks with the Covid-19 crisis:

  • Enhancing customer digital interactions– With the surge in digital banking volumes Temenos is helping banks meet customers’ needs for intimate digital interactions, particularly those who typically bank in branches. Temenos Infinity Engage gives customers a personal digital communications channel to connect with their trusted advisors within the bank.
  • Helping banks give financial relief to SMEs and retail customers with Explainable AI (XAI)Temenos’ new XAI models delivered as SaaS help banks assist small businesses and retail customers with fast loan approval and viable financial products. These XAI models delivered as SaaS will help banks digitally on-board, conduct eligibility checks, process loan applications and establish the right product pricing. These models include Temenos AI - Urgent Relief Loan, Temenos AI-Personalization and Temenos AI – SME Smart Decisioning.
  • US Paycheck Protection Program quick roll out – Temenos is helping US banks and credit unions with Temenos Infinity, the digital omnichannel product, to rapidly process loan applications from small businesses under the US government’s PPP and give them the funding they need. Temenos working together as one team with Atlantic Union Bank helped the bank build a brand new digital loan portal specifically for PPP in less than a week.
  • Rapidly adapt AML, KYC and fraud management to new emerging threats – Temenos has partnered with Microsoft to offer fast access to its AI-driven, Temenos Financial Crime Mitigation SaaS solution to help banks combat the rise in cybercrime due to Covid-19. Temenos has proven its ability to support banks of all sizes without disruption, providing comprehensive AML/KYC/fraud management while all bank employees are working remotely.
  • Helping banks rapidly launch or adapt products to respond to Covid-19 – Governments and regulators are asking banks to make product changes, such as payments holidays and loan restructurings. Temenos Continuous Deployment delivered as Temenos SaaS supports banks to accelerate changes in test and live environments, providing remote, automated, secure DevOps tools. This means that all necessary product changes can take place in these fast changing, and resource constrained times.
  • Providing training opportunities for bank employees – Temenos opened its online learning platform with over 400 courses for all Temenos products and sandboxes for free to allow bank users to experience and test Temenos’ latest technology innovations from their own home. More than 3,000 banking practitioners have registered to increase their knowledge on Temenos products and upskill team members. To request free access by visit here.

– 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 500 million 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.

Contact information

Media Contacts
Jessica Wolfe & Grace Collins
Temenos Global Public Relations
Tel: +1 610 232 2793 & + 44 20 7423 3969
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

Jefferies' Clients, Employees and Shareholders Contribute $9,250,000 to Over 85 Charities for Coronavirus Relief in Memory of Peg Broadbent28.5.2020 19:02:00 EESTPress release

Jefferies announced today a total donation to over 85 different charities of $9.25 million as a result of a firmwide global effort to raise money to honor the memory of their late CFO Peg Broadbent, who was a victim of this terrible disease. Through the firm’s Global Coronavirus Relief Charity Day held May 27th, Jefferies’ clients helped to generate $7.65 million in donated net trading commissions. In addition, Jefferies as a firm will donate $1 million directly, and voluntary donations from Jefferies’ 3,822 employees totaled $600,000. “We could not be prouder of our entire Jefferies family for raising $9.25 million and are greatly appreciative of the incredible partnership our clients have shown us in supporting our fight against Covid-19. The full $9.25 million will be wired today and go to direct relief efforts at over 85 worthy global charities who are each in the front lines helping those most impacted by the Coronavirus global pandemic. We went broadly to a large number of charit

JRJ Group Announces Sale of ETX Capital to Guru Capital28.5.2020 16:30:00 EESTPress release

JRJ Group, a leading international private equity investment firm focused on the financial services sector and growth situations, is pleased to announce that it has agreed to terms for the sale of ETX Capital, one of the fastest growing international providers of multi-asset CFDs and spread betting products, to a fund associated with Guru Capital, a Switzerland-based private equity firm with specific experience in the CFD space. Terms of the transaction were not disclosed. Roger Nagioff, Founding Partner of JRJ Group, said, “During JRJ’s ownership, we have invested in bolt-on acquisitions and enhanced the technology of the firm. We are delighted with the strength and resilience of the platform we have built, alongside the management team and employees, and we wish the enterprise every success in its next stage of growth.” “We are grateful of JRJ Group’s support, and we look forward to growing the business with the Guru Capital team, who have substantial experience in the CFD sector,” s

eLichens Launches eStore for US and EU Markets28.5.2020 16:00:00 EESTPress release

French start-up eLichens has launched its online store last week. eLos, for eLichens Outdoor Station, can now be purchased online by US and EU customers. Japan and other areas will soon join the list. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200528005117/en/ (Photo: Business Wire) eLos is a wireless, solar-powered air quality station. eLos provides citizens, communities and organizations the most accurate and complete real-time data about air quality, wherever they need it. Visit the store and learn more about eLos : https://www.elichens.com/store/elos View source version on businesswire.com: https://www.businesswire.com/news/home/20200528005117/en/ Contact information Marc Attia, press@elichens.com

SAB Biotherapeutics Confirms Neutralizing Antibodies to SARS-CoV-2 and Begins Clinical Manufacturing of Novel COVID-19 Therapeutic Candidate28.5.2020 15:24:00 EESTPress release

SAB Biotherapeutics (SAB), a clinical-stage biopharmaceutical company with a proprietary technology to produce fully human polyclonal antibodies without the need for human plasma donors, today announced in vitro data demonstrating that SAB-185, its COVID-19 therapeutic candidate, has highly-potent neutralizing antibodies to SARS-CoV-2 that are four times higher than the most potent human convalescent plasma serum sample evaluated. The company also announced that they initiated manufacturing of SAB-185 on May 25 to support the next phase of clinical development for its potential COVID-19 therapeutic, still on track to begin human trials in early summer. “These data indicate this human polyclonal antibody therapeutic has potent neutralizing activity against live SARS-CoV-2. The neutralizing titers of SAB-185 are significantly higher than those of the most potent plasma of recovered COVID-19 patients we’ve been able to source,” said William B. Klimstra, PhD Associate Professor of Microbio

SilkRoad Technology Recognized as a Core Leader in 2020 Fosway 9-Grid™ for Talent Acquisition28.5.2020 15:00:00 EESTPress release

SilkRoad Technology, a global software and services platform that helps organisations attract, retain and align people to its business, today announced its recognition as a Core Leader in the 2020 Fosway 9-Grid™ for Talent Acquisition. This position acknowledges SilkRoad Technology for growth and innovation in its talent experience capabilities, as well as for the company's continued customer growth, success and advocacy across the European market. SilkRoad Technology’s Talent Acquisition services and software help organisations optimise talent by attracting the right calibre of candidate to the business. HR and business decision-makers can streamline recruiting processes from requisition to job offer through SilkRoad’s scalable, personalised and on-brand solution that drives engagement and retention. Once the right talent is identified and secured, SilkRoad’s onboarding solution provides clarity, alignment and enablement to employees which helps accelerate revenue for efficient cost m

EURid And the Ecommerce Foundation Strengthen Their Collaboration to Improve the Detection of Abusive .eu Online Stores28.5.2020 14:34:00 EESTPress release

EURid and Ecommerce Foundation have formalised their partnership by working together to improve the trust of online consumers, retailers and brand owners in .eu online stores. EURid performs daily checks on .eu domains by using the acclaimed artificial intelligence solution (APEWS), developed in partnership with the KU Leuven University, as well as other internally developed tools to identify online stores, particularly those likely to be selling counterfeit products. EURid’s new partnership with the Ecommerce Foundation will strengthen the fight against online abuse, by adding abusive .eu domain names into the Ecommerce Foundation’s Scamadviser.com database. “For EURid, this is another important step towards a more transparent and trustworthy online .eu space, ensuring protection against potentially fraudulent domain name usage”, states Jordi Iparraguirre, EURid’s Innovation Manager. Scamadviser.com is an algorithm that identifies potentially fraudulent websites by checking more than

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