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Wednesday 24 November 2021

Temenos takes open banking to the next level


Leading core banking specialist, Temenos, has today launched the “Temenos Exchange”, as the Swiss-based software vendor looks to accelerate the transformation of the banking ecosystem at scale. Temenos’ new banking marketplace offers a broad range of certified fintech solutions that are pre-integrated for easy deployment in the cloud, enabling banks to accelerate the provision of new services via open banking.

The Temenos Exchange is a core element within the vendor’s developer program to promote and monetize new financial solutions. When Temenos launched its original banking marketplace, it was the first of its kind in the industry. Since then, the vendor’s orbit, has expanded significantly, as has its developer community. The company’s “Base Camp” now includes more than 18k members, meaning that the Temenos ecosystem now incorporates banking software’s largest technical community.

Having been one of the first major core vendors to embrace cloud native technology and collaborative innovation, Temenos has been reaping the rewards of its commitment and is working with an increasing cohort of global banks. In October, the company released impressive financials, characterised by strong revenue growth and healthy operating profitability (see: Temenos forges ahead in Q3).

The latest announcement by Temenos comes as open innovation and "embedded finance" continue to gain momentum across the banking sector. As banks increasingly offer third-party products and services to customers as well as other organizations, a recent Economist Intelligence Unit survey of revealed that around 47% of banking executives expect their current businesses to evolve into an ecosystem model within the next two years.

Posted by: Jon C Davies at 07:57

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