back Back

Temenos & Canadian Western Bank partner to empower SMEs with intelligent business banking

By Pavithra R

March 05, 2021

  • Canada
  • Temenos
Share

Temenos & CWB partner to empower SMEs with intelligent business bankingTemenos, the banking software company, has announced partnering with Canadian Western Bank (CWB) on innovation to support small- and medium-sized enterprises (SMEs) with financial decision making and growing their businesses. 

The new solution called Temenos Virtual COO is built on Temenos Infinity, the omnichannel digital banking product, and leverages Temenos Analytics and Explainable AI (XAI), API-first, cloud-native technology. The solution will offer insights to accelerate the growth of SMBs and put business owners in control of their companies’ financial destiny. 

Temenos Virtual COO will enable SMBs to simulate different business scenarios with XAI-driven modeling and thereby identify the best course of action for their business. The new solution will aggregate financial banking and business data to provide a consolidated real-time view of SME’s financial health and lighten the administrative burden so that business owners can make valuable use of their time in business. 

“It’s important now, more than ever to offer innovative digital solutions that ease the challenges that business owners face as they look to grow and maintain a business, especially during a pandemic. Temenos has been a key strategic partner for us on our digital transformation journey, and we are impressed with their focus and investment in innovation. We are excited to partner with Temenos to bring to market a data and intelligence-driven solution that will offer real-time insights and a holistic view, empowering SMEs to grow,” said Chris Fowler, President and CEO, Canadian Western Bank.

The innovation will enable global banks to deliver tailored experiences that help SMEs navigate through a complex and churning landscape and provide an open banking ecosystem for a centralized, next-generation experience. The solution will also empower CWB to cement its position as the trusted advisor for Canadian SMEs and a pioneer in financial services.

“We are excited to bring this Innovation Proof of Concept to life with CWB. Temenos Virtual COO looks beyond what financial services banks offer to SMEs today, to what they can offer tomorrow. Running Innovation Proof of Concepts like this enables Temenos and clients like CWB to identify new opportunities to lead by example. With this collaboration on Temenos Virtual COO, CWB will take its digital offering to the next level, providing an innovative customer-centric solution tailored to the specific needs of SMEs. We are excited to work with CWB on this initiative and inspire banks around the world to support their local communities and economies in new and exciting ways,” said Max Chuard, CEO, Temenos.

CWB Financial Group is a diversified financial services organization providing specialized service in banking, trust and wealth management. The banks has been a partner of Temenos since 2012, when it began its transformation with Temenos Transact. It also delivers personalized, end-to-end digital experiences with Temenos Data Lake and Temenos Infinity, forming a strategic relationship. Deloitte Digital will collaborate with Temenos to take Virtual COO to market.

Previous Article

March 05, 2021

Wipro to acquire UK based consultancy firm Capco

Read More
Next Article

March 05, 2021

Paysend teams up with Mastercard to boost its global reach

Read More








IBSi Daily News Analysis

Fraud

February 23, 2024

Canada

Regulated firms battle surge in financial crime attempts, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

February 23, 2024

Ebury and Nium team to offer cross-border payments in Brazil

Read More

February 23, 2024

FinTech Focus: Catch latest developments of the week

Read More

February 23, 2024

Vencora acquires CREALOGIX to expand its banking technology services

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023