Israel’s Bank Leumi, Temenos and VMware will create an advanced digital banking platform for banks based on Pepper, Leumi’s mobile banking platform.
The solution will be available globally and combines Pepper’s product base with Temenos’ core banking platform and is deployed on VMware’s cloud infrastructure. Launched in February by Bank Leumi, Pepper offers an entirely mobile banking experience, from onboarding to performing transactions.
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The process of opening an account takes minutes, after which customers obtain current account facilities and an active credit line directly to their phone.
“When we set out on our journey to launch a new mobile-based digital bank, we not only wanted to challenge our own IT go-to-market model, but also to revolutionise the banking industry in Israel and globally,” said Rakefet Russak-Aminoach, Bank Leumi CEO.
“Time was of the essence with this launch, and we were able to develop and deploy all mission-critical Temenos apps on VMware’s cloud infrastructure in less than 15 months. We’ve been very pleased with the solution’s performance thus far, and from the fast growth in customers who are extremely satisfied with this new innovative banking model that focuses on mobile, real-time banking with a unique customer experience.
“Nowadays, we see many incumbent banks and big retailers around the globe which are seeking to provide advanced mobile financial services. We can be their accelerator, with a very unique, attractive and innovative platform.”
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By GlobalDataDavid Arnott, CEO Temenos adds: “With legacy technology banks can’t keep up with the digital world. They don’t have the agility to respond to fast change, the analytics to offer real-time personalised experiences or the end-to-end processing to deliver instant fulfilment,”
“With this collaboration, we’re taking a step together toward achieving that goal. Our collaboration with VMware provides an secure infrastructure that allows banks to deploy our software either on-premises or in the public cloud.”
