Banking technology provider Temenos has extended its alliance with Amazon Web Services (AWS) to run its solutions on the cloud platform. 

The technology partnership is aimed at allowing existing and upcoming banks to offer digital onboarding and origination solutions.

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These solutions are expected to increase banks’ agility and efficiency while reducing cost and time to market.

The multi-year partnership will see the technology vendor offer a full suite of Temenos banking solutions on AWS as-a-service for retail, business, corporate, private and wealth clients. 

Temenos CEO Max Chuard said: “We are seeing an acceleration in our subscription-based business, and with this multi-year agreement we are offering our clients more choice in embracing the cloud for digital banking services and new business models such as banking-as-service with more certainty, predictability and at a lower cost.”

Amazon Web Services head of financial services market development John Kain said: “Temenos delivers cloud-native digital banking solutions to thousands of the world’s leading financial services organizations, and we are excited to expand our relationship with them. 

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“Combining the reliability, high performance, and security of AWS with Temenos digital banking solutions, we can offer banks the business agility they need to transition to the cloud with confidence and innovate faster than ever before.”

Separately, Canadian Tire Corporation’s financial services arm Canadian Tire Bank (CTB) has selected Temenos open platform for composable banking.

Last month, US challenger Battle Financial selected Temenos Banking Cloud for Battle Bank.