Temenos collaborates with MAS

Friday 17 November 2023 08:19 CET | News

Switzerland-based Temenos has announced a partnership with Gprnt, the Monetary Authority of Singapore’s (MAS) new integrated digital platform.

Through this collaboration, Temenos and MAS aim to cooperate on technology solutions, explore data integration, and encourage product development to advance sustainable finance. Temenos is one of the first core banking software providers to work on Gprnt, with the platform intending to support financial institutions’ balance sheet decarbonisation, ESG risk management, and regulatory compliance demands.

Temenos has announced a partnership with Gprnt, the Monetary Authority of Singapore’s (MAS) new integrated digital platform, to enhance sustainable finance.

Being part of MAS’ Project Greenprint, Gprnt’s objective is to address the financial sector and real economy’s requirements in collecting and accessing trusted climate and sustainability-related data. By working with Temenos, MAS can integrate Know Your Customer (KYC) which adds EGS data from verifiable sources through the platform and introduces it directly into a bank’s client onboarding. Moreover, enhanced data analytics incorporate additional ESG metrics for a bank’s loan origination system flow, creating targets for pipeline loans that provide embedded elements of sustainability.

Temenos – MAS partnership objectives

According to Temenos’ officials, the company integrated ESG into its operations and product offerings, offering banks the technology required to support them in the transition to a low-carbon economy. Temenos aims to help Gprnt explore opportunities that can mobilise capital, monitor sustainability commitments, and measure impact. Representatives from MAS stated that technology is an important element for financial institutions to decrease the difficulties of green transition and achieve their net-zero targets. Considering Temenos’ knowledge in developing banking platforms, MAS aims to cooperate on initiatives to enable the financial sector’s rising need for improved sustainable finance solutions.

Temenos Banking Cloud, the company’s SaaS offering, intends to support banks minimise energy use and decrease greenhouse gas emissions, with the company continuing to improve the efficiency of its code to reduce its environmental impact. Other capabilities include Temenos Carbon Calculator, which offers clients CO2 emissions insights, and Temenos EGS Investing, which supports banks in meeting reporting standards and allow customers to decide investments based on their own values.

Temenos’ recent developments and collaborations 

As a banking software company, Temenos’ mission is to offer improved banking services to participants in the industry, including large and small banks, non-banks, and fintechs, as well as partners and developers. Recently, the company entered multiple partnerships to advance its development strategy, including one with Africa and Gulf Bank (AGB). By joining forces, AGB intended to leverage Temenos’ solutions hosted on the cloud to improve its product offering to retail and corporate customers in Sudan.

During the same period, Lien Viet Post Joint Stock Commercial Bank (LPBank) chose Temenos to update its core banking platform for retail and corporate banking. This enabled LPBank to substitute its system with Temenos’ technology platform, allowing the bank to manage customer accounts and transactions with improved performance and efficiency. The partnership also allowed LPBank to provide customised products at a faster pace and at a reduced cost.

Moreover, Aktia partnered with Temenos to support the launch of pan-European instant payment services and improve all payment processing rails onto a single platform through Temenos Payments Hub. The bank’s collaboration with the company was part of a strategic platform modernisation to deliver enhanced customer experience for domestic and international payments with better efficiency and to meet regulatory requirements. 

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Keywords: partnership, digital banking, ESG, carbon footprint, KYC, sustainability
Categories: Banking & Fintech
Companies: Gprnt, Monetary Authority of Singapore, Temenos
Countries: Singapore
This article is part of category

Banking & Fintech



Monetary Authority of Singapore



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