Temenos and Deloitte: Accelerating Financial Modernisation

Temenos and Deloitte are each powerhouses in their fields, leading the charge when it comes to banking solutions and professional services respectively.

Now, the pair are joining forces with the aim of providing technology solutions to help US financial institutions accelerate core banking and payments modernisation in the cloud. 

Through this agreement, Temenos and Deloitte Consulting will help these organisations to deliver modern digital experiences faster and at a lower cost, while taking advantage of new business models and market opportunities such as instant payments and banking-as-a-service (BaaS).

Building on close ties

This enhanced partnership builds on close international collaboration between the two firms and enables a joint go-to-market strategy in the US, opening a new channel for Temenos to accelerate market penetration in the large banks segment, as well as large scale payment players.

“Globally, Temenos and Deloitte have a long history of working together to help banks transform and modernise their core banking and payment capabilities,” comments Philip Barnett, President – Americas at Temenos.

“We are excited to formally expand our relationship in the US market with Deloitte as the transition to cloud banking accelerates for financial services firms. With our joint go-to-market strategy with Deloitte we will accelerate our penetration in the US market, specifically in the large banks segment. 

“Together, we can support financial institutions with their payments’ transformation across multiple payment schemes and evolving regulations, and help them to progressively modernise their core banking capabilities and accelerate time to value.”

Temenos attracting financial giants

With a broad and deep set of banking capabilities and an open platform that enables banks to pursue any business model, Temenos is attracting some of the largest US financial institutions.

Its platform can be deployed on premise, on any public cloud or through Temenos Banking Cloud, as a SaaS offering.

Temenos’ core banking customers in the US include Commerce Bank, a top 30 institution, as well as fast-growing digital challengers such as Varo Bank and Convera, the global payments leader.

By merging their capabilities, Temenos and Deloitte will offer large bank customers a market-leading modernisation approach to address competitive, regulatory, cost and innovation drivers. 

Deloitte is expected to work closely with Temenos to implement their solutions using standardised, process-driven best practices for faster, low-risk deployment. 

And, with this new agreement, clients will be able to access the industry experience and consulting strength of the Deloitte US firm, not to mention Temenos’ wide array of composable banking capabilities and SaaS solutions on its cloud-native banking platform.

“As the banking market moves to the cloud, Temenos offers a compelling proposition to US banks,” adds Steve Hillas, Managing Director at Deloitte Consulting.

“With our know-how and deep experience with Temenos implementations, Deloitte can serve as an accelerator for banks to pursue a technology modernisation strategy, helping them to evolve their clients’ experiences, gain operational resiliency and position for ecosystem plays.”

******

Check out the latest edition of FinTech Magazine and sign up to our global conference series – FinTech LIVE 2024. 

******

FinTech Magazine is a BizClik brand.