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Tuesday 14 September 2021

Temenos expands choice via IBM Cloud partnership

TemenosIn an extension of its longstanding relationship with the US vendor, Temenos has announced the availability of its core banking software "Transact" via the IBM Financial Services Cloud, with Red Hat OpenShift. Financial institutions choosing to implement Temenos via IBM will have access to the vendor’s robust security and resiliency capabilities to ensure that they can retain control of their data.

Temenos provides its main offerings, Transact and Infinity, as two individual products. Transact provides the core transactional engine of a bank, whilst Infinity provides comprehensive functionality around customer engagement. The componentised structure of Transact enables banks to retain their existing systems whilst modernising on a supplemental basis.

IBMTemenos uses APIs to connect users with a wide range of third-party tools and services and will incorporate IBM’s ecosystem of partners via the IBM Cloud for Financial Services. In addition to a wide range of standalone services, Temenos has also made available microservices supporting core elements of the banking process including Accounts and Deposits, Retail Lending, Enterprise product, and Enterprise Pricing.

Temenos recently released impressive H1 results, characterised by strong growth in revenue and profits (see: Momentum builds for Temenos as banking market accelerates). Momentum has been building for some time, with the vendor also successfully navigating the transition from up front licenses to SaaS. Temenos’ subscription revenues have significantly expanded as its client’s businesses have scaled rapidly.

Posted by: Jon C Davies at 09:27

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