Temenos extends relationship with AWS to power digital banking cloud services with enhanced security, scalability and reliability
Temenos (SIX: TEMN) and Amazon Web Services (AWS), have extended their global relationship to run Temenos onboarding and origination solutions on AWS. The technology collaboration aims to allow all retail and commercial banks – incumbents and challengers – to provide digital onboarding and origination solutions with higher performance, scalability, and security. It will give banks greater agility while reducing time to market and improve cost efficiency. The two companies will go-to-market with solutions for retail, business, corporate and private banking, and wealth.
This multi-year agreement aims to offer the full suite of Temenos banking solutions on AWS as-a-service.
Temenos and AWS started working together in 2019 to integrate Temenos open platform onto AWS and have demonstrated success with joint banking customers since then. With Temenos digital banking solutions, Temenos and AWS are making it easier for banks to access the technology they need to meet rising customer expectations and deliver simple, innovative products.
Furthermore, the Temenos digital solutions, integrate with Salesforce CRM and Amazon Connect, an easy-to-use, omnichannel cloud contact-center service that scales to support businesses of any size, to help banks provide superior customer service. Amazon Connect capabilities include skills-based contact routing, voice and chat recording, built-in artificial intelligence (AI) and machine learning (ML) to personalize interactions, pay-as-you-go pricing, and so much more.
Temenos is seeing tremendous growth in SaaS services and take up of its digital banking platform, as banks turn to packaged banking services for fast time to market. More than 1,000 financial services institutions around the world leverage Temenos’ leading cloud-native digital platform, which offers pre-composable, banking services – built on microservices and accessible via APIs – that can be configured, customized, and extended by partners or by the banks.
Temenos makes full use of AWS Availability Zones (AZ) to provide high-availability within a single region, avoiding data sovereignty issues, without expensive redundant infrastructure. Temenos digital banking platform on AWS can scale to meet growing customer demands as evidenced in Temenos’ benchmark on AWS. Temenos on AWS enables banks to lower their total cost of ownership by reducing infrastructure management, and enabling automated deployment using Infrastructure as Code (IaC) tools.
Temenos solutions on AWS also helps banks see an immediate and significant reduction in their carbon footprint and support them in achieving their ESG goals compared to on premise deployments.
John Kain, Head of Financial Services Market Development, Amazon Web Services, said: “Temenos delivers cloud-native digital banking solutions to thousands of the world’s leading financial services organizations, and we are excited to expand our relationship with them. Combining the reliability, high performance, and security of AWS with Temenos digital banking solutions, we can offer banks the business agility they need to transition to the cloud with confidence and innovate faster than ever before.”
Max Chuard, Chief Executive Officer, Temenos, said: “We are seeing an acceleration in our subscription based business, and with this multi-year agreement we are offering our clients more choice in embracing the cloud for digital banking services and new business models such as banking-as-service with more certainty, predictability and at a lower cost. We are pleased to be strengthening our relationship with AWS and we will be extending it to offer all Temenos solutions, to help banks accelerate time to value and customer innovation.”
Lorenzo Villa, Team Leader Touchpoints IT – Credem Banca, commented: “With Temenos digital banking solutions on AWS, we have been able to quickly develop a mobile banking experience to compete with the very best in Italy. We can efficiently offer seamless onboarding, innovative products and exceptional digital banking experiences that keep pace with customer expectations. We are pleased to collaborate with Temenos and AWS to scale and future-proof our growth.”
AWS presented the benefits of digital banking on the cloud at the Temenos Community Forum (TCF 2022) in London, on May 17-19. At the flagship event, Temenos showcased how its open platform integrates with Salesforce CRM and Amazon Connect, and how it can deliver hyper-personalized experiences across digital and assisted channels to build customer loyalty and trust.