Temenos expands partnership with AWS to offer Core Banking as SaaS

By Gloria Methri

Temenos has announced that its core banking solutions are now available as Software-as-a-Service (SaaS) to further the integration of its application on Amazon Web Services (AWS). With this, Temenos offers more choices to its clients through its Banking Cloud.

Running cloud banking services on AWS enables retail, commercial, and private banks – incumbents and challengers – to gain greater agility, higher performance, scalability, and security.

This collaboration further increases the regional coverage and availability of the Temenos Banking Cloud across the globe with trusted and scalable banking services.

Temenos first started working with Amazon Web Services in 2019 to integrate its open platform into AWS and has demonstrated success with banking sector customers. In 2022, Temenos made available its onboarding and origination digital banking solutions on AWS to help banks deliver innovative products faster.

The relationship also paved the way for ongoing innovation with partners such as Yugabyte and MongoDB, helping banks scale efficiently. Temenos Banking Cloud’s integration on AWS also helps banks reduce their carbon footprint and support them in achieving their environmental, social, and governance (ESG) goals.

Prema Varadhan, President of Product and Chief Operating Officer, at Temenos, said, “We see tremendous growth in SaaS across all regions. We are pleased to extend our leadership in the cloud and strengthen our strategic collaboration with AWS, a leading cloud service provider. We have over 700 clients live on Temenos Banking Cloud across five continents, covering over 30 regulatory jurisdictions, and we take a new bank live on our SaaS platform on average every 10 days. With this collaboration, we offer more choices to our customers and cement our commitment to our multi-cloud strategy, bolstering Temenos Banking Cloud’s existing SaaS capabilities.”

Yves Dupuy, Leader of Financial Services Industry Solutions, AWS, said, “Banks are moving to SaaS and cloud to modernize their infrastructure to become more agile and drive business growth. Leveraging the reliability, flexibility, and scalability of AWS, Temenos can deliver high performance and enhanced value through its composable, cloud banking services, supporting leading financial services institutions in their transformation journey to provide enhanced customer experience and become more sustainable businesses.”