This will enable Volt Bank to accelerate the deployment of its banking products. The bank says that the scalability and security of the Temenos software running on the Temenos Cloud combined with the Temenos Australian Model Bank approach provided pre-configured country-specific functionality.
By combining our Australian Model Bank functionality with the latest cloud technology, Temenos was able to successfully deploy the banking solution for Volt Bank. The bank uses Temenos and Microsoft Azure cloud technologies and aims to drive an API architecture for quick time-to-market and integrations, as open banking regulation aims to hit Australia in 2019.
In May 2018, the Australian Prudential Regulation Authority (APRA) granted Volt Bank the first restricted authorised deposit-taking institution (RADI) licence in Australia. Temenos has since worked with the bank to help it meet its regulatory obligations.
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