Australian challenger bank Judo Capital has selected Temenos’ core banking platforms to consolidate its position in the country’s business banking sector.

The lender, which is currently in process of securing full banking licence from the Australian Prudential Regulation Authority, has selected Temenos’ T24 Core Banking, Channels, Analytics and Financial Crime Mitigation.

The Judo-Temenos collaboration will lead to integration of Temenos Cloud into the bank’s fully cloud-based, API-centric, technology ecosystem.

Temenos will be responsible for all IT operations of the bank.

Additionally, it is expected to support Judo’s launch of the new challenger bank which would cater to various customer segments especially SMEs.

Judo Capital co-founder and CIO Alex Twigg said: “With the big banks’ shift to industrialisation and centralisation, SMEs have lost the human interaction and tailored service that they so deserve and crave.

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“Judo’s mission is to bring back the craft of relationship banking, powered by the best of modern technology.

“With Temenos’ commitment to providing core banking as-a-service, we can continue to focus on empowering our customers, the businesses that are the backbone of the Australian economy.”

Under the collaboration, the T24 solution will be integrated with Judos’ existing systems through the zero trust network and identity management system.

Besides fulfilling local requirements, the integration will enable association with new third-parties and develop an open banking environment.

The process will enable Judo Capital to offer complete range of banking services as soon as it procures the banking licence.

Temenos APAC managing director Martin Frick said: “Temenos technology will enable Judo Capital to benefit from a modern, end-to-end digital banking system, giving them the ability to offer their clients a fully digital and personalised experience that will scale.

“This win demonstrates the momentum in the Australian market where Temenos has a strong presence and local expertise.”