Temenos, the banking software company and Google Cloud has announced its global and strategic partnership to help financial service organisations to run mission-critical banking software and applications on Google Cloud. This will help them to create profitable business models and improve and differentiate their customer experiences.
The two companies began collaborating in 2019 to integrate Temenos cloud-native, cloud-agnostic software into Google Cloud and have demonstrated success with joint banking customers in Europe and Asia. Under this expanded partnership, Temenos’ full suite of banking software and applications will now be available on Google Cloud, and the partnership will help banks go to market faster, open up new business models, and achieve tangible business benefits.
More than 3,000 financial service institutions around the world have leveraged Temenos’ modern, cloud-native and API-first technology. As a part of this strategic partnership, banks can run Temenos’ applications in Google Cloud, taking advantage of its scalability, resilience, and global infrastructure. The expanded partnership was announced at the Paris Fintech Forum 2020, where Max Chuard, Temenos CEO, spoke about ‘Banking in the Cloud’.
Besides, building upon its open approach to cloud, Temenos will be the first global banking software provider to run on Google Cloud’s Anthos, enabling customers to deliver mission-critical workloads across on-premises and cloud environments, or even across multiple clouds.
Anthos is Google Cloud’s hybrid and multi-cloud application platform that enables organisations to migrate and modernise their existing applications, build new ones and run them anywhere, whether it’s in the cloud, on-premises or on multiple clouds. Built on open-source technology pioneered by Google, such as Kubernetes, Istio and containers, it helps banks empower their developers, security professionals, platform teams and operations engineers — enhancing employee and customer experiences, saving bottom-line costs and increasing top-line revenue.
According to Chuard, Chief Executive Officer, at Temenos, “We see explosive growth in cloud adoption in the banking industry. We are delighted to extend our leadership in the cloud and strengthen our strategic partnership with Google Cloud.”
He further added, “As a strategic global banking software partner of Google Cloud, we will bring to innovative market solutions that combine our API-first, cloud-native, and microservices-based banking software with Google Cloud’s scale and its leading cloud capabilities. Our customers will benefit from the winning combination of Temenos’ functionally rich and technologically advanced digital banking platform on Google Cloud. Together, we will enable banks to reduce their time to market and operational complexity, as well as elastically scale and deliver outstanding digital customer experiences. With Google Cloud’s Anthos, we give banks the freedom to innovate and reap the true benefits of multi-cloud.”
Thomas Kurian, Chief Executive Officer, at Google Cloud, also said, “Temenos delivers market-leading banking software applications to thousands of the world’s leading financial services organisations, and we’re excited to expand our strategic alliance with them. Extending Temenos’ core capabilities to Google Cloud will help banks digitally transform their business and deliver entirely new customer experiences and offerings.”
Temenos has been at the forefront of software innovation, consistently investing 20% of its revenues in R&D and is pioneering in cloud banking for the last ten years. Temenos will enable banks to significantly reduce their total cost of ownership through elastic cloud scalability, distributed database technology and multi-cloud resilience, all underpinned by the benefits of vendor and platform independence. Temenos accelerates banks digital transformation helping them to become more agile and innovate faster.