Temenos Launches AI-Powered LEAP to Accelerate Banks’ Cloud Migrationby Fintech News Singapore January 17, 2024
Banking software company Temenos has launched LEAP, an AI-powered initiative designed to help banks transition smoothly to advanced cloud-based platforms.
LEAP is designed to enable banks to move away from older systems to a more contemporary, API-driven platform. The programme leverages AI to simplify traditionally manual aspects of migration and testing. It is complemented by comprehensive training support to ease the transition.
This transition is expected to allow banks to quickly develop and offer more personalised products, thereby enhancing customer engagement and expanding market reach.
The new platform offers enhanced capabilities in product design, servicing, and payments, and is built with an emphasis on connectivity, scalability, and security. It also offers access to the Temenos Exchange ecosystem, ensuring a customisable user experience.
The programme focuses on improving operational efficiency, reducing costs, and ensuring that technology remains up-to-date with ongoing improvements from Temenos.
The adoption of this new architecture is expected to position banks favorably for transitioning to cloud or Software-as-a-Service (SaaS) models, enabling greater agility and faster deployment times.
Temenos has already extended the LEAP programme to Qatar’s Lesha Bank as well as an unnamed tier one bank.
Andreas Andreades, Chief Executive Officer, Temenos said,
“Powered by AI, banks can optimise for operational efficiency all through extreme automation of manual tasks making new software deployment faster and easier, less-resource intensive and drive down costs.
LEAP dramatically changes the traditional modernisation model in keeping with our engineering tradition to find solutions that enable banks to be future-ready in an affordable and risk-managed manner with a short time to value.”