Temenos, a leading company that offers a cloud-based platform to provide the banking sector with fund, wealth, and lifecycle management solutions, launched a front-to-back banking SaaS specifically crafted for the US market standards. This unique offering by the banking software firm has pre-integrated U.S. banking products and services that are bound to enhance the customer experience. Built on the modern cloud-native, cloud-agnostic and API-first technology of Temenos, the product will enable new digital banks in the US to launch within 90 days!
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A recent Economist Intelligence Unit Study revealed that challenger banks are making their presence felt in the North American region and nearly a third of North American bankers feel pressurized owing to the changing competitive environment; the global average is 28%. 40% of the bankers believe new technologies will have the maximum impact on the banking sector in the days to come.
The tailor-made SaaS product is a perfect fit for US neo and digital banks looking out to reduce their operational costs and complexity, in addition to reducing their time to market. Banks can now configure and launch innovative products and services with the help of Temenos’ offering. It is well-known that differentiated user experience is critical to the success of any organization, and customizing the customer-facing apps from Temenos to provide customers with that experience is a plus point for the digital banks in the US. They can also choose to build their own applications with the help of open APIs that Temenos offers. In addition, banks will also have access to pre-integrated and packaged FinTechs on Temenos MarketPlace that will include live chat, PFM (Personal Financial Management), e-signature, ID verification, among various others.
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With our new U.S. front-to-back SaaS product for digital banks, we will revolutionize the software banking landscape in the U.S., which is a highly strategic market for us. We are pioneers in cloud software and have global banking expertise in delivering high-profile and hugely successful SaaS-based retail digital banks and neobanks in regulated environments, from Varo Money and Grasshopper in the U.S., to Volt Bank and Judo Bank in Australia, and Leumi’s Pepper in Israel. These are exciting times as we continue to offer banks the most advanced SaaS digital banking product based on modern, cloud-native technology, giving them the freedom to dramatically reduce their time to market, cost, operational complexity and deliver outstanding digital customer experiences.
– Max Chuard, Chief Executive Officer, Temenos.
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