How Fintech Giant Temenos Became an ESG Leader
It’s safe to say Temenos—the fintech powerhouse on a mission to revolutionise banking—has become an environmental, social and governance (ESG) leader over the course of its 30-year history.
The banking software provider continues to be a leading light when it comes to running a more sustainable operation, promoting inclusivity and supporting important community initiatives.
Look no further than some of the most reputable ESG ratings in the world. Temenos achieved the top score in the software industry for the second year running in last year’s Dow Jones Sustainability Indices (DJSI), and was the only company in the industry awarded top 1% distinction in the S&P Global Sustainability Yearbook for 2024.
The company was also classified as low risk in Sustainalytics ESG Risk Rating Report and retained its platinum medal from EcoVadis for its sustainability performance.
Focused on emission reduction
Temenos’ commitment to sustainability is spearheaded by its bid to lead the transition to SaaS. More than 700 clients are using the Temenos Banking Cloud, helping financial institutions reduce their carbon emissions by up to 95% compared to using on-premise IT infrastructure.
Banking is already an IT-intensive sector, and that dependence is increasing with pressure to deliver new digital offerings, process growing transaction volumes, leverage new technologies such as AI and maintain vast data repositories.
By migrating their operations to the cloud and SaaS, banks can significantly reduce their environmental impact and operate in a far more sustainable manner.
What’s more, Temenos’ new end-to-end SaaS Enterprise Services is enabling banks to quickly deploy software solutions and take advantage of a leaner, agile, more efficient banking system—a further step towards decarbonising the industry.
Also announced recently was Leap, an AI-powered offering that helps banks modernise faster and seamlessly move to the latest cloud-native Temenos technology.
“Temenos is leading the transition to SaaS and a more sustainable banking industry,” outlines Kalliopi Chioti, Chief Marketing and ESG Officer at Temenos.
“To be recognised once again as a leader in the most prestigious ESG ratings worldwide demonstrates our commitment to sustainability and the positive impact we have supporting our clients in their transition to a low-carbon economy and achieving their ESG goals on Temenos Banking Cloud.”
Temenos’ ESG mission
Temenos’ mission from an ESG perspective is headlined by three primary aims:
- Help clients and partners transform into smart, inclusive and sustainable organisations
- Manage operations ethically and sustainably
- Contribute to global social and environmental initiatives
In terms of sustainability, Temenos is focused on the 1.5C climate threshold and aims to achieve net zero greenhouse gas (GHG) emissions by 2050.
The business continues to source renewable energy to power its operations and has embarked upon projects to grow and restore trees with carbon removal in mind.
Meanwhile, Temenos is committed to working for the benefit of the communities in which it operates, as proven by the fact one in six employees volunteer in their local area.
It’s also worth reinforcing that Temenos’ very existence is focused on building a more inclusive, equitable society, making banking possible for more than 1.2 billion people.
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