Global banking software company Temenos is expanding its strategic relationship with Microsoft to meet the growing demand for its SaaS and banking services.
The company is looking to grow its SaaS and open banking solutions under the Temenos Banking Cloud, Temenos said in a statement.
Temenos will also be partnering with Microsoft over Green Cloud initiatives to support banks in reducing their carbon footprint and achieving Environmental, Social, & Governance (ESG) goals.
The Temenos Banking Cloud allows banks to self-provision front-to-back banking services with localised functionality from over 150 countries. It is hosted on Microsoft Azure.
Microsoft’s own research suggests that businesses using their cloud infrastructure are up to 93% more energy-efficient and can lower carbon emissions by up to 98%, as compared to using their own datacenter.
Max Chuard, CEO of Temenos, noted that cloud technology can help banks bring down their time to market and operational complexity, while scaling digital customer experiences. He added that it can also provide them with business agility in the space of open banking and banking-as-a-service.
“We see an acceleration in our SaaS business, and this landmark agreement will assist our clients in embracing the cloud for mission-critical banking services and taking advantage of emerging new business models with more certainty, predictability and at a lower cost,”
Chuard added.
Featured image credit: edited from pexels
