Temenos transforms banking with The Temenos Banking Cloud to accelerate SaaS and AI adoption with instant access to Sandbox, Banking Services, and MarketPlace
26.5.2021 08:30:00 EEST | Business Wire | Press release
Temenos (SIX: TEMN), the banking software company, is accelerating its leadership in the cloud by introducing the next-generation in SaaS, The Temenos Banking Cloud. This combines the industry’s most complete banking services, covering all segments and all geographies, with a Sandbox for fast innovation and the Temenos MarketPlace for fintech collaboration, all powered by a new AI-enabled engine to drive banks’ business growth and accelerate time to market. With Temenos Banking Cloud, banks now have the power to self-provision always-on banking services and scale instantly and securely while dramatically reducing the cost of operations to 10% of legacy systems. Join TCF Online with over 10,000 attendees, to find out more.
Max Chuard, Chief Executive Officer, Temenos, said: “Banks face huge challenges – fierce competition, rising customer expectations, cost pressures. Research shows that for quite some time 70% of banks cannot cover their estimated cost of capital. Banks can no longer wait; they need a new approach to run their business and develop banking products.
Building on over 10 years of cloud leadership, $1 billion in R&D investment and the experience of over 700 SaaS customers ranging from global banks to over 70 challengers, we are delivering the next-generation in SaaS, The Temenos Banking Cloud.
The Temenos Banking Cloud is for both digital-first banks that want to launch in weeks as well as large or complex banks that want to acquire distinct capabilities, launch products fast and progressively migrate customer bases that are serviced by legacy systems.
We are putting banks in control of their business models and innovation cycles, giving them the agility and speed to build great customer products and profitable businesses. With The Temenos Banking Cloud, we empower banks to digitally transform and massively scale faster than ever.”
Chris Sozou, General Manager Platforms, Partnerships & Analytics, Virgin Money Australia, said: “Our digital bank has been designed with a clear ambition to simplify banking and help customers achieve their financial goals. With Temenos SaaS, we can deliver a frictionless digital experience, bringing together credit cards, transactions, and savings accounts, plus a loyalty program in a single, native mobile app. With The Temenos Banking Cloud, it is easier to integrate with third parties and we have an agile platform that easily scales up or down depending on business demands.”
The Temenos Banking Cloud gives banks the freedom to innovate faster, move from a CapEx to an OpEx model and benefit from a lower total cost of ownership. Varo Bank , using Temenos SaaS, estimates that it services customers at 25% of the total costs incurred by a traditional bank. Banks using The Temenos Banking Cloud have benefited from instant and massive scalability. A European challenger bank opened over 600K accounts in 3 months. While a global digital disruptor saw a staggering number of over 20M loan applications processed within 9 months. They are already adding over 100K new loans per day which is expected to reach 200K loans per day. Over 700 financial institutions use Temenos SaaS such as Al Ain Finance , Alpian, Flowbank, Flowe, Itau, Orange Bank and they will now benefit from all the new rich features of The Temenos Banking Cloud.
Dan Dickinson, Chief Information Officer, EQ Bank, said: “As Canada’s first digital-only challenger, we turned to Temenos SaaS to easily scale to meet customer demand, grow deposits much more quickly at a lower cost, and pass on the benefits to our customers. With The Temenos Banking Cloud, we can accelerate our business growth and benefit from unlimited innovation through the Sandbox and Temenos MarketPlace capabilities.”
The Temenos Banking Cloud removes the complexity, enabling banks to concentrate on their customers rather than their technology. With the touch of a button, banks can turn on new banking services, scale instantly, build new applications, plug into the richest fintech marketplace, and proactively manage usage and service health. With The Temenos Banking Cloud, banks gain:
- Faster to time market with Banking Services: The industry’s leading front-to-back Banking Services with localized functionality from over 150 countries, covering all banking segments. The Banking Services are created using Packaged Business Capabilities,1 which are aligned to the BIAN standards. They are extensible, flexible and open, and can be easily configured and integrated with external applications. The Banking Services can be consumed instantly, are pay-as-you go, and continuously updated safely without the need for big upgrades. These Banking Services are built for banking, they offer enterprise-grade controls to manage mission-critical systems.
- Unlimited innovation in the Sandbox: Temenos Sandbox enables banks to innovate faster by exploring new Temenos functionality, train their developers, and create new applications. The Sandbox includes access to Temenos Banking Services, Temenos MarketPlace, example data, and integration tools to enable banks to configure new products. The Sandbox also offers high-quality well-documented APIs, which are essential connectors of open architecture. Banks can choose to move to production environments in the cloud or on-premise.
- Collaborate with the most complete fintech marketplace: Instant access to Temenos MarketPlace, with the most innovative fintechs such as Plaid, Taurus, Tink, and Wise. The fintech solutions are pre-integrated so they can be rapidly consumed for a quick time-to-value. Developers can work with open APIs to extend their banking services by inviting fintechs and developers to the Sandbox environment and collaborate.
The Temenos Banking Cloud is powered by an Explainable AI engine with advanced data analytics, so banks can test, report and measure product performance, and gain insight to support business decisions and product design. Through the self-service portal, IT users and developers can spin up fully provisioned environments, benefit from real-time dashboards on usage and billing, configure permissions and manage security credentials. Temenos AI advisors offer recommendations to banks to proactively manage usage and service health.
The Temenos Banking Cloud offers multi-layered security, comprehensive compliance coverage, and the highest availability across the globe. Temenos’ cloud-native, cloud-agnostic technology architecture is micro-services-based and API-driven to optimize the use of the underlying cloud platform services.
– 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.
1 According to BIAN, Packaged business capabilities (PBCs) are software components representing a well-defined business capability, functionally recognizable as such by a business use.
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/20210525005869/en/
Contact information
Media
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
Fortegra Appoints Guy House as SVP, Treaty Reinsurance27.10.2026 11:00:00 EET | Press release
The Fortegra Group, Inc. ("Fortegra" or the "Company"), a global specialty insurer and part of DB Insurance Co., Ltd., has appointed Guy House as Senior Vice President, Treaty Reinsurance. In this role, he will lead Fortegra’s treaty reinsurance underwriting strategy from the Company’s UK office. Mr. House brings more than 18 years of London market experience. He has written and bought reinsurance across multiple product lines and tiers, including property, marine, energy, terrorism and aviation. His expertise spans treaty and retrocession reinsurance, direct and facultative (D&F) insurance, exposure management, alongside capital raising and management. Previously, Mr. House was Head of Property at Tamesis Dual, having joined from Markel International where he worked as the Senior Property D&F Underwriter. He is ACII qualified and holds a degree in Economics from Durham University. About Fortegra For more than 45 years, Fortegra, via its subsidiaries, has underwritten risk management s
TetraMem Advances Analog In-Memory Computing with Tapeout of New 12nm AI SoC27.10.2026 10:41:00 EET | Press release
TetraMem, a Silicon Valley-based pioneer in analog in-memory computing (A-IMC), announced the successful tapeout of MLX300, the world’s first 12nm A-IMC system-on-chip (SoC) based on multi-level RRAM technology. The SoC was developed using industry-leading EDA solutions enabled through Synopsys Cloud FlexEDA, and this milestone represents a major step in bringing this architecture toward advanced-node, production-ready computing. “TetraMem’s architecture represents a fundamentally new approach to AI computing by converging memory and compute together,” said Glenn Ge, CEO and Co-founder of TetraMem. “Leveraging Synopsys EDA solutions through Synopsys Cloud have been instrumental in enabling efficient global collaboration and accelerating our path from research innovation to manufacturable silicon.” The MLX300 tapeout follows TetraMem’s recently announced MLX200/MLX200M multi-level RRAM A-IMC SoC implemented on a commercial 22nm process, marking two successful full-mask tapeouts achieved
Exeon Analytics Introduces AgentGuard for Visibility and Threat Detection Across AI Use and Agent Activity27.10.2026 10:30:00 EET | Press release
Exeon Analytics today introduced Exeon.AgentGuard, a new AI security solution designed to give organizations visibility into approved and shadow AI use, autonomous agent activity and the data flows created through connected tools and external services. Building on its expertise in AI-driven behavioral analytics and threat detection, Exeon expands its cybersecurity capabilities to address emerging risks associated with the rapid adoption of agentic AI. Bringing visibility, addressing data leakage and rogue AI agent behavior As enterprises increasingly adopt AI agents, maintaining visibility into their activities becomes critical. Whether operating autonomously or on behalf of employees, organizations need to understand what AI agents are doing, which systems and data they access, and how they interact with external services. Exeon.AgentGuard provides security teams with visibility into AI agent activities by leveraging existing data sources, without requiring additional agents or comple
Former Nokia Technologies C-suite Executive Joins Sisvel to Lead Creation of New Ventures Unit27.10.2026 10:04:00 EET | Press release
Stavros Kyris has joined Sisvel to lead the formation of Sisvel Ventures, which has a wide-ranging remit to explore opportunities outside of Sisvel’s core areas of business. Kyris previously held a number of senior roles at Nokia and from 2019 until earlier this year was Chief Strategy, Financial and Operating Officer of Nokia Technologies. Before that, he spent five years as Chief of Staff to Nokia’s CEO, having formerly worked in corporate business development, strategy and M&A at the company. Sisvel Ventures will identify and develop IP-based business projects that do not sit within Sisvel’s established standard essential patent (SEP) pool licensing operation. It will draw on expertise within the broader company while functioning separately from it. Senior Sisvel executives Matteo Sabattini and Leonardo Saroni will join Kyris in building the new unit. “Sisvel Ventures is an exciting endeavour that I am delighted to help launch,” says Kyris. “Sisvel has a reputation for its bold, ent
Institutional Investors and Wealth Advisors Remain Bullish on Private Markets, With a Sharpened Focus on Liquidity: New Report From BBH Investor Services27.10.2026 10:00:00 EET | Press release
Private markets are growing in importance to investors’ overall portfolios, according to new research from Brown Brothers Harriman (BBH) Investor Services today. In BBH’s second annual Private Markets Investor Survey, over a quarter of investors say more than 30% of their investments will be allocated to private markets strategies in the next five years. Most investors (84%) plan to increase their private markets investments within the next two years, with private equity ranking as the top target for new investment (54%), up 16 points from last year, followed by private credit (44%), up 20 points year-over-year. The survey captures the views of 500 institutional investors and wealth advisors in the United States, the United Kingdom, Germany, Switzerland, and Japan. Liquidity emerges as a top priority for investors in this year’s report. Investors signaled that their preferred window for capital deployment in private markets is four to six years, followed by preference for an even short
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