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Temenos unveils AI-based LEAP to accelerate banks’ migration to cloud

By Gloria Methri

January 17, 2024

  • Bank Modernisation
  • Cloud Migration
  • Europe

Temenos, core banking platform, Temenos, investment banking, Fintech news, EuropeTemenos has announced the launch of Temenos LEAP, a new holistic modernization program, that enables its clients to move to the latest Temenos platform, accelerating their journey to the cloud and Software-as-a-Service.

Combining its banking platform with transformation tooling and processes, as well as its services teams and a select group of specialized partners, LEAP offers banks a fast, low-risk route to modern cloud-native architecture to future-proof their business.

LEAP gives Temenos’ core banking clients using older solutions the opportunity to modernize by moving seamlessly and quickly to a new, advanced, API-driven, cloud-native architecture. Opening the door to using the latest technology platform from Temenos with cutting-edge banking capabilities, LEAP allows clients to launch quickly and iteratively more personalized products to their customers and improve customer engagement.

The modern platform makes it easier to expand into new sectors and markets, stay ahead of competitors and reap the benefits of Temenos Banking Cloud and SaaS.

The new banking capabilities support the creation of new products, with a focus on product design, launch, servicing, and retirement, in addition to Temenos Payments Hub which adds new payment rails and adopts a 24×7 x 365 STP approach.

Compared to traditional upgrade projects, LEAP enables banks to modernize in just months, using the power of AI, and ready-to-use service packages, supported by extensive training enabled by the Temenos Learning Community (TLC).

With LEAP, clients will be able to enjoy the commercial benefits of faster time-to-value, increased product agility, and reduced operational costs by removing old solutions and having a more efficient platform that operates with fewer resources.

Banks will be able to easily keep their technology up to date in the future, gaining immediate benefit from Temenos’ ongoing investment in the platform

Once on the new architecture, banks are ready to move to the cloud or to Software-as-a-Service deployment models, when required. In this way, banks can benefit from business agility and quicker time to value, whether they choose to run on a public cloud or private cloud or opt for a hybrid approach.

Temenos LEAP offering has already been successfully proven in modernization projects for clients such as Qatar’s Lesha Bank, which moved to the latest banking platform to streamline its processes and offer innovative products. Furthermore, a leading tier-one bank recently reconfirmed its commitment to the company with an agreement to move to the latest Banking Platform.

Andreas Andreades, Chief Executive Officer of Temenos, said, “With LEAP, banks can benefit from a proven, low-risk, quick-time-to-value, AI-based modernization approach to move to the advanced, cloud-native technology of the latest Temenos Banking Platform. The platform enables clients to future-proof their business and leverage a modern architecture to be ready to take advantage of cloud or SaaS opportunities. Powered by AI, banks can optimize operational efficiency all through extreme automation of manual tasks making new software deployment faster and easier, less-resource- intensive and drive down costs.”

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