Temenos Banking Software available on Alibaba Cloud to Power Banks’ Digital Transformation

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  • Temenos partners with Alibaba Cloud
    to offer financial institutions scalability, performance, resilience and
    innovation
  • Temenos cements its leadership in the cloud delivering its
    software across all major public cloud providers

GENEVA, SWITZERLAND and HANGZHOU, CHINA – Media
OutReach
 – 17 September 2020 – Temenos (SIX: TEMN), the banking
software company, and Alibaba Cloud, the digital technology and intelligence
backbone of Alibaba Group, today announced that Temenos Transact, its next
generation core banking product is now certified on Alibaba Cloud. Financial
institutions will be able to run Temenos’ mission-critical core banking
applications on Alibaba Cloud and benefit from elastic scalability, cost and
operational efficiencies. Banks can now easily adopt Temenos’ world-leading
banking software on the powerful Alibaba Cloud infrastructure.

More than 3,000 financial services institutions around the world
leverage Temenos’ modern, cloud-native and API-first technology. Banks can now
run Temenos’ core banking software in Alibaba Cloud and take advantage of the
speed to market and agility of the cloud, enabling them to quickly reinvent
their business models and their organization as a whole.

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The growing demand for cloud-based and SaaS models is being accelerated
by the coronavirus pandemic as banks require more resilient and agile
technology propositions. Cloud has become the established method of software
deployment for smaller banks and neobanks that need to launch quickly with
minimal IT infrastructure cost. However, incumbent banks increasingly require
cloud-native software to future-proof their business, gain greater speed to
market as well as reduce IT complexity and costs.

Temenos’ core banking software will now be available on Alibaba Cloud,
and the two companies will jointly help banks go to market faster, open up new
business models, and achieve industry leading cost/income ratios. The two
companies are already engaged in proof of concepts with banks and have joint
customers in APAC.

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Philip
Barnett, Director, Strategic Growth, Temenos, said:
“We are delighted to extend our
leadership in the cloud and be the first to certify with Alibaba Cloud, a tech
giant and a source of innovation widely recognized for its leadership in
e-commerce and mobile payments. Cloud is the enabler for change; and
particularly during this challenging climate – it gives financial institutions
the agility and the resilience they need. Working with Alibaba Cloud we will
help banks to elastically scale based on demand and remove operational
complexities. Together we can help new entrants launch faster with lower costs
as well as large banks break down silos and collaborate internally and
externally, and provide outstanding customer experiences. Our certification on Alibaba
Cloud demonstrates that our cloud-agnostic banking platform enables banks to
pursue a multi-cloud strategy and have the highest levels of active-active
resilience with the cloud provider of their choice.”

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Lancelot Guo, President of Ecosystem
and Sales Operations, Alibaba Cloud Intelligence:
“We are delighted that Temenos has
certified on our cloud. Temenos is the market-leading, cloud-native banking
software provider accelerating the digital transformation for thousands of
worldwide financial institutions. Combined with our comprehensive suite of
cloud services, and a proven track record of delivering value, we together
boost the capabilities of financial institutions, allowing them to accelerate
their growth and innovation on the cloud.”

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Temenos has been in the forefront of
software innovation, consistently investing 20% of its revenues in R&D and
is pioneering in cloud banking for the last 10 years. Temenos was the first
banking software provider to offer a core banking product in the cloud and the
first to offer cloud-to-cloud, active-active multi-cloud resilience to
eliminate downtime and dependency on a single cloud provider. Temenos enables
banks to significantly reduce their total cost of ownership through elastic
cloud scalability, distributed database technology and multi-cloud resilience,
all underpinned by the benefits of vendor and platform independence. Temenos
accelerates banks digital transformation helping them to become more agile and
innovate faster.

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About Alibaba

Established in 2009, Alibaba Cloud
(www.alibabacloud.com), the digital technology and intelligence backbone of
Alibaba Group, is among the world’s top three IaaS providers, according to
Gartner, and the largest provider of public cloud services in China, according
to IDC. Alibaba Cloud provides a comprehensive suite of cloud computing
services to businesses worldwide, including merchants doing business on Alibaba
Group marketplaces, start-ups, corporations and government organizations.
Alibaba Cloud is the official Cloud Services Partner of the International
Olympic Committee.


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.

Temenos Banking Software available on Alibaba Cloud to Power Banks’ Digital Transformation

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Temenos Banking Software available on Alibaba Cloud to Power Banks’ Digital Transformation - Brand SpurTemenos Banking Software available on Alibaba Cloud to Power Banks’ Digital Transformation - Brand Spur

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Latest News

Greenliant Launches High Capacity 1TB microSD ArmourDrive(TM) Industrial Memory Cards

Offering Reliability, Portability and Durability at Wide Temperature Ranges

 

BEIJING, CHINA and SANTA CLARA, US - EQS Newswire - 1 March 2021 - Greenliant has expanded its ArmourDrive™ industrial memory card portfolio with the high reliability, high capacity microSD QX Series, available from 256GB to 1TB, and operating at wide temperatures (-25 to +85 degrees Celsius). See microSD ArmourDrive product information at http://bit.ly/SD-microSD.

Temenos Banking Software available on Alibaba Cloud to Power Banks’ Digital Transformation - Brand Spur

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Temenos Banking Software available on Alibaba Cloud to Power Banks’ Digital Transformation - Brand Spur
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