BforBank Chooses Temenos on Google Cloud to Power Future Expansion
Temenos (SIX: TEMN) today announced that BforBank, the fully digital bank of the Crédit Agricole Group, has selected Temenos open platform for composable banking to support future expansion. The bank is moving from an on-premise implementation to using Temenos core banking solutions on Google Cloud to tap new growth opportunities and drive efficiencies at scale.
A pioneer in digital banking, BforBank launched in 2009, offering a new approach to savings, life insurance, mutual funds and e-brokerage to the French mass affluent market. The online bank has since expanded to provide a full suite of retail banking services, with accounts, payments and lending products, including mortgages. Providing a simple and highly personalized experience “empowering customers to become their own private banker” has enabled BforBank to differentiate in an increasingly competitive market.
Since its inception, Temenos core banking software has underpinned the bank’s back-office operations. As banking becomes more collaborative, moving to a fully cloud-native, API-first stack on Google Cloud will give the bank hyperscale agility, flexibility, and scalability to launch new services faster at a lower cost.
Pascal Luigi, Deputy CEO, BforBank, commented: “The banking world is changing fast. After 12 years of successful operations and ahead of new strategic initiatives, we wanted to challenge our initial choices. We initiated a complex process and tested several software vendors with proof of concept on Google Cloud. Temenos was just the obvious choice, having invested relentlessly during the past years to deliver the most open and secure cloud banking platform for composing and deploying banking services at scale.”
Max Chuard, CEO, Temenos, said: “We have built a trusted partnership with BforBank and its parent Credit Agricole over many years. As BforBank looks to the future, we are delighted to build on this relationship to support its growth ambitions. To lead in the new banking world requires an open, cloud-native approach, enabled by AI, Open APIs, and modern DevOps practices, and this is what Temenos delivers. Being selected as BforBank’s cloud banking platform shows the bank’s confidence in Temenos to drive innovation and create new opportunities.”
Zac Maufe, Head of Financial Services, Google Cloud, added: “The banking industry is increasingly seeing that cloud technology is not just a driver of efficiency, but an enabler of change. Through our partnership with Temenos, we look forward to powering BforBank’s digital transformation which will enhance its banking services with highly connected and personalized interactions for customers at scale.”
– Ends –
About Temenos
Temenos AG (SIX: TEMN) is the world’s leader in banking software. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 1.2 billion banking customers. Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence.
Temenos software is proven to enable its top-performing clients to achieve cost-income ratios of 26.8% half the industry average and returns on equity of 29%, three times the industry average. These clients also invest 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks’ IT investment is adding tangible value to their business.
For more information, please visit www.temenos.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220516005833/en/
Contact information
Media
Jessica Wolfe & Scott Rowe
Temenos Global Public Relations
Tel: +1 610 232 2793 & +44 20 7423 3857
Email: press@temenos.com
Alistair Kellie & Andrew Adie
Newgate Communications on behalf of Temenos
Tel: +44 20 7680 6550
Email: allnewgatetemenos@newgatecomms.com
About Business Wire
Business WireSubscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
B2Broker Increases Leverage on Major FX Pairs to 1:20018.4.2024 18:06:00 CEST | Press release
Leading Prime of Prime liquidity provider B2Broker is committed to quality, always listening to their clients' needs to provide them with the best possible tools to bring in more end users and gain a competitive edge in the industry. In this regard, B2Broker announces the rise of the leverage to 1:200 for major FX pairs, thereby reducing the margin requirements from 1% to 0.5%. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240418556608/en/ B2Broker increases leverage on major FOREX pairs to 1:200 and to 1:50 for BTC/USD and ETH/USD pairs, enhancing the market position of their clients. (Graphic: Business Wire) Additionally, with the cryptocurrency market thriving and traders’ demands for higher leverage growing, the company has increased leverage up to 1:50 for BTCUSD and ETHUSD, reducing margin requirements from 10% to 2% and significantly enhancing the clients' market position. Additional Information about B2Broker Liquid
Proemion Holding GmbH Agrees to Acquire TrendMiner NV to Expand Industrial Asset-Monitoring and Analytics Platform18.4.2024 17:32:00 CEST | Press release
Proemion Holding GmbH, a global provider of advanced data and analytics technology for mobile industrial assets, announced an agreement to acquire TrendMiner NV, an industrial analytics company, from Software AG. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240417486875/en/ The spinout and acquisition of TrendMiner, based in Belgium, will significantly expand Proemion’s existing analytics capabilities for critical industrial equipment, which help equipment manufacturers and operators gather machine data remotely and continuously to maximize uptime and performance. TrendMiner produces a complementary, web-based, self-service analytics platform for monitoring critical equipment inside complex industrial environments. The technology allows teams to collaborate, learn and improve the overall performance of all production. TrendMiner’s technology is used across industries including chemicals, oil and gas, pharmaceuticals, power
Kinsted Wealth Selects Objectway for Enhanced and Fully Integrated Client and Investment Management Platform to Drive Growth18.4.2024 15:28:00 CEST | Press release
Objectway, global Top 100 FinTech provider of as-a-service software and services to banks, wealth and asset managers, has partnered with Kinsted Wealth, a Calgary (CAN) based independent wealth manager serving private individuals and institutional investors. Objectway will help Kinsted Wealth manage their business in a fully integrated and centralised manner, ultimately accelerating the growth of its discretionary business and external advisor network. This new client partnership follows the recent addition of leading digital wealth solutions provider Nest Wealth to Objectway, building on the momentum of the Group’s active expansion and operational capability in Canada. Objectway's digital front-end will deliver improved client experience for Kinsted Wealth by providing investors with omnichannel interaction, client engagement and front-office productivity, supported by an online portal and mobile apps for investors. This solution will enable Kinsted Wealth to improve client experience
Rimini Street Honored with Two Prestigious Stevie® 2024 Awards in the Category of Customer Service18.4.2024 15:00:00 CEST | Press release
Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software, and a Salesforce and AWS partner, has been named a multiple award-winning honoree in the 18th annual Stevie Awards for Sales & Customer Service. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240418492652/en/ Rimini Street Honored with Two Prestigious Stevie® 2024 Awards in the Category of Customer Service (Photo: Business Wire) A standout amongst the 2,300 nominations received from across the world, Rimini Street received two awards in two different customer service categories: Silver Stevie for Front-Line Customer Service Team of the Year in the Technology Industries category, awarded to the Global Technology Service Delivery team. This esteemed recognition highlights the team's unwavering commitment to excellence in customer service an
Denis Johnson Joins Kindeva Drug Delivery as Chief Operating Officer to Lead Global Operations18.4.2024 15:00:00 CEST | Press release
Kindeva Drug Delivery (Kindeva), a global leader in drug-device combination products, today announced that Denis Johnson has joined the company as its new Chief Operating Officer (COO). Denis joins Kindeva to lead global operations for all Kindeva’s state-of-the-art manufacturing, research, and development facilities located across the U.S. and U.K. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240418293964/en/ Denis Johnson joins Kindeva Drug Delivery as Chief Operating Officer, leading Kindeva’s state-of-the-art manufacturing, research, and development facilities located across the U.S. and U.K. (Photo: Business Wire) As COO, he will be dedicated to global operations, but notably facilitating the expansion and opening of Kindeva’s new aseptic injectable fill-finish site in Bridgeton, Missouri, opening this year, as well as the company’s focus on bringing green propellants to commercial combination product manufacturing fo
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom