The collaboration looks to create a comprehensive offering to support banks with improved agility, increased performance, scalability, and security. With this, Temenos aims to provide its clients with more choices as it looks to have the Temenos Banking Cloud become among the most extensive Saas solutions covering a wide range of regional and governance requirements, data standards, and certifications.
Per the information detailed in the press release, running Temenos Banking Cloud composable banking services on AWS is believed to enable retail, commercial, and private banks (incumbents and challengers) to gain better agility, higher performance, scalability, and security.
The collaboration looks to further increase Temenos Banking Cloud’s regional coverage and availability across the globe with banking services that are both trusted and scalable. Temenos fully leverages AWS to provide high availability throughout varied regions and address data sovereignty requirements free of expensive (on-site) redundant infrastructure.
Commenting on the news, Prema Varadhan, President of Product and Chief Operating Officer, Temenos said that growth in SaaS has been seen across all regions, and the company is looking forward to expanding its activity in the cloud and strengthening its strategic collaboration with AWS. As more than 700 clients are live on Temenos Banking Cloud across five continents, covering 30 regulatory jurisdictions, the partnership enables the company to provide customers with increased choice and cement its commitment to its multi-cloud strategy, strengthening Temenos Banking Cloud’s current SaaS capabilities.
Yves Dupuy, Leader Financial Services Industry Solutions, AWS added that banks are moving to SaaS and cloud to modernise their infrastructure and have it become increasingly agile and drive business growth. Per their statement, by leveraging AWS’ reliability, flexibility, and scalability, Temenos can provide high performance and increased value via its composable, cloud banking services, assisting FIs in their transformation journey to offer improved customer experience and become more sustainable.
Temenos and AWS first started cooperating in 2019 to integrate the former’s open platform onto AWS, having ‘demonstrated success’ with banking customers ranging from tier-one banks to digital banks from that point onward. In 2022, Temenos launched its onboarding and origination digital banking solutions on AWS to assist banks with delivering products in an expedited manner.
The announcement details that AWS and Temenos’ collaboration also helped enable continuous innovation with partners of the likes of Yugabyte and MongoDB, assisting banks to scale in an efficient manner. What is more, Temenos Banking Cloud’s integration on AWS lets bank reduce their carbon footprint and supports them in achieving their environmental-, social-, and governance-related (ESG) goals (compared to on-premises deployments).
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