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Temenos and IBM help banks leverage the benefits of hybrid cloud

Thursday 11 May 2023 10:23 CET | News

Switzerland-based Temenos has partnered with IBM to help banks improve their core banking modernisation with hybrid cloud.

 

The partnership between these two entities aims to speed up the digital transformation programmes of banks by offering improved security, operational efficiency, and innovation while supporting regulatory alignment. Specifically, the Temenos open platform running on Red Hat OpenShift is now available on IBM Power, LinuxON, and IBM Cloud for Financial Services. 

By using a hybrid strategy to distribute workloads across on-premises, public, and private clouds, banks can take advantage of cloud benefits and scale their digital transformation. Temenos’ roadmap for bank modernisation uses complex IT systems as well as new technologies such as Explainable AI. 

As far as the partnership with IBM goes, the two companies are working together to enable solutions on Red Hat OpenShift created to scale in accordance with the needs of banking clients, as well as identify early adopter banks for these offerings. To accelerate and de-risk the digital transformation of banks, IBM’s open hybrid cloud approach can sustain scalability, operational efficiency, and innovation by leveraging Temenos, IBM Technology and IBM Consulting assets and expertise.

 

Switzerland-based Temenos has partnered with IBM to help banks improve their core banking modernisation with hybrid cloud.

 

More information about IBM’s capabilities

IBM Power servers help clients modernise important applications on an established cloud-native platform, leveraging flexible capacity on demand to make better-informed decisions with greater speed. The system uses the capabilities of hybrid cloud to allow users to grow as needed with an affordable base configuration and then scale private cloud capacity according to future requirements. 

Temenos’ platform can integrate into any complex tier-one landscape, and IBM LinuxONE was created with sustainability and scalability in mind. The mix between these two services can allow banks to optimise their technology without disrupting their mission-critical workloads. 

In order to reduce the complexity of managing ISV and SaaS workloads while remaining compliant with current regulations, institutions can use the IBM Cloud for Financial Services. The system’s Security and Compliance Center and compliance framework can help clients improve the deployment of cloud solutions while remaining compliant with the regulatory requirements of the financial services industry.

Other Temenos developments

In March 2023, Temenos partnered with Tintra to develop a new bank designed for emerging market clients. As part of this collaboration, Tintra will use Temenos’ core banking platform, payments, and Financial Crime Mitigation solution. Tintra’s goal is to support fiscal inclusion in trade and finance across the globe by leveraging a strategic network of full bank licences on four continents. 

In January 2023, Temenos has upgraded its Temenos Banking Cloud with improved Banking-as-a-Service (BaaS) capabilities. The upgrade can meet the technical requirements of organisations offering BaaS from licenced banks to specialist BaaS providers servicing brands or fintechs. Temenos Banking Cloud allows incumbent and non-incumbent banks, as well as BaaS providers, to establish and scale their BaaS programmes and open up new revenue streams.


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Keywords: partnership, cloud services, banks, financial institutions
Categories: Banking & Fintech
Companies: IBM, Temenos
Countries: Switzerland
This article is part of category

Banking & Fintech

IBM

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Temenos

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