Temenos Rolls Out Comprehensive Banking Toolkit for Same-Day Product Launchby Fintech News Singapore January 11, 2024
This new service promises rapid deployment capabilities, allowing banks to set up software solutions within 24 hours while significantly cutting down on modernisation costs.
The newly unveiled Temenos Enterprise Services feature over 120 pre-packaged banking products, predefined customer journeys, and more than 700 pre-configured APIs.
This service is designed to provide banks with a full-fledged system for launching new business lines or updating existing systems efficiently.
One of the key offerings of the service is the ability for banks to initiate a Minimum Viable Product (MVP) and establish a build and test environment in just a day.
Temenos highlights that its established tooling, standardised methodologies, and experienced service teams can help banks achieve an MVP within a few months of starting a project.
For larger banks, Temenos offers the flexibility to introduce new products or business lines in various banking sectors. This approach includes the possibility of migrating existing customer bases to the new platform gradually.
Delivered as a Software-as-a-Service (SaaS), the Temenos Enterprise Services ensure continuous updates, advanced security controls, and high-performance Service Level Agreements. These cloud-native, scalable services are presented as an efficient alternative to traditional on-premise installations.
Additionally, the service provides immediate access to the Temenos Exchange ecosystem, which includes over 115 complementary solutions.
The extensive API library aims to simplify complex integrations with various systems, and the Temenos Extensibility Framework allows banks to expand their capabilities while maintaining performance and security.
An important aspect of choosing the Temenos Banking Cloud is the significant reduction in carbon footprint – up to 95% lower than on-premise alternatives.
Temenos will launch end-to-end services for all other segments of the market that it is operating in this year.
Prema Varadhan, President Product and Chief Operating Officer, Temenos said,
“With our end-to-end Temenos Enterprise Services on Temenos Banking Cloud, banks of all sizes can have a ready-to-go system in 24 hours with pre-configured banking products, turn on new features and benefit from faster time to value.
This is a game-changing approach, which can significantly reduce the cost of running core banking software to as little as 10% when compared to the costs of running legacy on premise software.”