Temenos has joined forces with Alibaba Cloud to offer financial institutions scalability, performance, resilience and innovation.
Temenos, the banking software company, and Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, have announced that Temenos Transact, its next generation core banking product, is now certified on Alibaba Cloud.
Go deeper with GlobalData
Financial institutions will be able to run Temenos’ mission-critical core banking applications on Alibaba Cloud and benefit from elastic scalability, cost and operational efficiencies.
Banks can now easily adopt Temenos’ world-leading banking software on the powerful Alibaba Cloud infrastructure.
Covid is accelerating demand for cloud-based and SaaS models
More than 3,000 financial services institutions around the world leverage Temenos’ modern, cloud-native and API-first technology.
Banks can now run Temenos’ core banking software in Alibaba Cloud and take advantage of the speed to market and agility of the cloud, enabling them to quickly reinvent their business models and their organisation as a whole.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe growing demand for cloud-based and SaaS models is being accelerated by the coronavirus pandemic as banks require more resilient and agile technology propositions.
Cloud has become the established method of software deployment for smaller banks and neobanks that need to launch quickly with minimal IT infrastructure cost.
However, incumbent banks increasingly require cloud-native software to future-proof their business, gain greater speed to market as well as reduce IT complexity and costs.
Proof of concepts is already underway
Temenos’ core banking software will now be available on Alibaba Cloud, and the two companies will jointly help banks go to market faster, open up new business models, and achieve industry leading cost/income ratios.
The two companies are already engaged in proof of concepts with banks and have joint customers in APAC.
Temenos has been in the forefront of software innovation, consistently investing 20% of its revenues in R&D and is pioneering in cloud banking for the last 10 years.
