Thanks to an expanded partnership with Amazon Web Solutions (AWS), banking and finance software developer Temenos can now offer a number of its core banking solutions as software as a service (SaaS) products.
This collaborative effort is seen as a way by which the Temenos Banking Cloud can increase its regional coverage and availability around the world. Likewise, running Temenos’ core banking solutions on AWS gives those in the banking sector – regardless of whether these are commercial, private, or retail banks – greater agility, along with improved performance, scalability, and security.
Making full use of AWS also enabled Temenos to provide its clients with high availability for solutions across several regions. It also allows the fintech developer to accommodate data sovereignty requirements in a more cost-efficient manner without having to establish redundant onsite infrastructure.
A Harbinger of Exponential Growth
For Temenos chief operating officer and president for products Prema Varadhan, the company sees even greater growth in SaaS across all regions. To date, Temenos has more than 700 live clients from five continents on the Temenos Banking Cloud, covering over 30 regulatory jurisdictions.
Varadhan added that the expanded partnership with AWS will help his company give its customers more choices and bolster its commitment to its multi-cloud strategy.
Likewise, AWS’ leader for financial services industry solutions Yves Dupuy remarked that Temenos can now deliver higher performance and greater value to clients by way of composable cloud banking services that leverage AWS’ flexibility, reliability, and scalability. In doing so, Temenos can support both leading banking institutions and nascent firms in their push to provide an enhanced customer experience and make their businesses more sustainable.
A Long-Standing Partnership
Temenos’ working partnership with AWS goes back to 2019 when the former opted to integrate its open platform into the latter’s cloud system. It has proven to be a successful collaboration and clients range from digital banks to tier-one institutions.
The partnership between the two entities is also one of the factors that have driven innovation for firms like MongoDB and Yugabyte.
Temenos and AWS have also helped a number of financial firms to reduce their carbon footprint and meet their environmental, social, and governance (ESG) goals through online services that have removed the need for on-site deployments.
Last year, Temenos’ onboarding and origination digital banking solutions became available on AWS and have since enabled banks to deploy a number of innovative banking products more efficiently.