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Canadian Tire Bank expands relationship with Temenos to accelerate its digital transformation

By Delisha Fernandes

July 17, 2023

  • Acquisition
  • Banking
  • Canadian Tire Bank
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TemenosThe Canadian Tire Bank (CTB) has adopted Temenos Banking Cloud to accelerate its core modernisation.

The bank chose Temenos platform to extend its relationship with the Banking platform and move to a Software-as-a-Service (SaaS) model. This will enable the Canadian bank to deploy banking services more efficiently and launch new products faster to give customers seamless and more personalised experiences.

Aayaz Pira, President of Canadian Tire Financial Services and CEO of Canadian Tire Bank, said, “The move to Temenos Banking Cloud will accelerate our digital transformation to advance our digital banking capabilities in service of further integration across Canadian Tire Corporation’s retail brands and its millions of active loyalty members. We will be well-positioned to offer our customers a truly differentiated banking experience and fulfil our Brand Purpose of Making Life in Canada Better.”

The Canada-based bank has a digital strategy to enhance customer acquisition, loyalty and engagement. The Temenos Banking Cloud will help power new business models at scale by advancing the Bank’s digital capabilities and developing new products across CTC’s retail brands.

Philip Barnett, President of Americas and Strategic Growth, Temenos, said, “We are delighted to expand our collaboration with Canadian Tire Bank as it pioneers new ways to support Canadians through innovative products and superior experiences. With Temenos Banking Cloud, The Bank can digitally transform on a trusted and secure platform that provides continuous updates to create new sustainable business models and massively scale faster than ever. North America is a strategic region for Temenos and a market where we are seeing tremendous growth in SaaS.”

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