Temenos and AWS Join Forces to Deliver Core Banking Solution as SaaSby Fintech News Singapore May 11, 2023
Running Temenos Banking Cloud composable banking services on AWS enables retail, commercial and private banks – incumbents and challengers – to gain greater agility, higher performance, scalability, and security.
Temenos said that it will be making full use of AWS to provide high-availability across various regions and accommodate data sovereignty requirements, without expensive (on-site) redundant infrastructure.
Additionally, Temenos Banking Cloud’s integration on AWS also helps banks reduce their carbon footprint and support them in achieving their ESG goals when compared to on-premise deployments.
Both entities started working together in 2019 to integrate Temenos open platform onto AWS. In 2022, Temenos made available its onboarding and origination digital banking solutions on AWS to help banks deliver innovative products faster.
Prema Varadhan, President Product and Chief Operating Officer, Temenos, commented:
“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 choice to our customers and cement our commitment to our multi-cloud strategy, bolstering Temenos Banking Cloud’s existing SaaS capabilities.”
Yves Dupuy, Leader 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.”