back Back

Temenos expands collaboration with Microsoft to meet the demand for the Temenos Banking Cloud

By Joy Dumasia

December 15, 2021

  • API
  • Cloud Adoption
  • Economist Intelligence Unit
Share

Temenos, KAF, MalaysiaTemenos, the banking software company, announces it is expanding its strategic relationship with Microsoft to meet the growing demand from banks for SaaS and banking services delivered by The Temenos’ Banking Cloud. Temenos is collaborating with Microsoft to develop financial services offerings in the cloud to drive scalability, operational efficiency, and innovation. The Temenos Banking Cloud is hosted on Microsoft Azure.

Temenos will collaborate with Microsoft on Green Cloud initiatives to help banks see an immediate and significant reduction in their carbon footprint and support them in achieving their ESG goals. Research commissioned by Microsoft estimates businesses using their infrastructure are up to 93% more energy-efficient and can result in up to 98% lower carbon emissions than operating their data centre. These savings are attributable to four key features of the Microsoft Cloud: IT operational efficiency, IT equipment efficiency, data centre infrastructure efficiency, and renewable electricity.

Temenos is seeing tremendous growth in SaaS and its open banking platform. Banks increasingly turn to composable banking solutions built on microservices and accessible via APIs to modernize and address the challenges of their current IT landscapes. According to a recent Economist Intelligence Unit report, the take-up of SaaS and cloud infrastructure has accelerated since the start of the pandemic, as banks seize an opportunity to cut costs and ramp up their digital transformation projects.

Max Chuard, CEO, Temenos, commented: “This agreement cements Temenos’ and Microsoft’s shared commitment to providing banks with an optimal path to cloud adoption. The cloud is essential for banks to reduce their time to market and operational complexity, as well as elastically scale and deliver outstanding digital customer experiences. It also gives business agility in the new world of open banking and banking as a service. We see an acceleration in our SaaS business, and this landmark agreement will assist our clients in embracing the cloud for mission-critical banking services and taking advantage of emerging new business models with more certainty, predictability and at a lower cost.”

Bill Borden, Corporate VP of Worldwide Financial Services, Microsoft, said: “We are thrilled to continue our collaboration with Temenos to build out its Temenos Banking Cloud on Microsoft Azure to address the industry’s rigorous security, regulatory and privacy demands. We also look forward to putting our combined strengths to work to expand the possibilities of the cloud for banks and financial institutions worldwide, helping them create differentiated customer experiences, accelerate time to value, and drive innovation for responsible growth.”

Previous Article

December 15, 2021

Plum partners with Razorpay Rize to sponsor Health Insurance

Read More
Next Article

December 15, 2021

Andrews FCU turns to DeepTarget to provide member-specific digital engagements

Read More








IBSi Daily News Analysis

payment check out, Open Banking

April 23, 2024

API

UAE retailers lose millions annually on payments fraud; consumers’ wallets impacted

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

Today

Temenos appoints former VMWare exec Jean-Pierre Brulard as CEO

Read More

Today

Together selects nCino to upgrade its lending business

Read More

April 23, 2024

Razorpay launches UPI Switch in partnership with Airtel Payments Bank

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
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