Temenos arrives on IBM Cloud for core banking modernisation

By Gloria Methri

Temenos open platform, running on Red Hat OpenShift, is now available on IBM Power, LinuxONE, and IBM Cloud for Financial Services.

The partnership aims to accelerate banks’ digital transformation programs by providing them with enhanced security, operational efficiency, and innovation and enabling regulatory alignment. It is also designed to enable the modernisation of technology stacks and coexistence with hybrid cloud platforms.

Temenos provides a clear modernization path for banks with complex IT systems that look to extend and adopt a hybrid cloud strategy for their core banking systems and take advantage of new technologies such as Explainable AI.

Temenos has now certified its core banking solution with Red Hat OpenShift for IBM Power and IBM LinuxONE and is validated on the IBM Cloud for Financial Services. The collaboration enables Temenos to deliver solutions on Red Hat OpenShift that can elastically scale in response to the needs of banking clients and identify early adopter banks for these products.

Ross Mallace, Executive Vice President, Global Head of SaaS and Partner Ecosystem Temenos, said, “With Temenos modern technology we are putting banks in control of their business models, giving them the speed to build great customer products and sustainable businesses. Our collaboration with IBM helps banks accelerate their journey to hybrid cloud and start receiving the benefits of a modern cloud-native banking platform. With Temenos’ AI-powered technology, banks can innovate faster, create new business models and future-proof their business in the cloud era.”

Fabio Cesaretti, VP, Senior Partner Financial Services IBM Consulting, said, “Financial institutions use hybrid cloud to gain the needed flexibility to innovate their business while improving efficiency and resilience in operations. Answering the need for a progressive cloud transformation, IBM partners with Temenos to help banks modernize with hybrid cloud. We have been teaming up with Temenos successfully for decades to help financial institutions around the world deploy next-generation banking technology, reduce costs, and exploit new pockets of profitability.”

Temenos’ platform can easily integrate into any complex tier-one landscape, while IBM LinuxONE is engineered for sustainability with security, reliability, scalability, and data-driven customer engagements. This combination is designed for banks to easily optimize their technology without disruption to their mission-critical workloads.