Temenos Enterprise Pricing Offers Banks Core-Agnostic, SaaS Solution for Rapid Launch of Personalized Products and Services
Temenos (SIX: TEMN), the banking software company, announces its next-generation Temenos Enterprise Pricing solution, which enables banks to design, manage and price innovative products, services and product bundles using their own and third-party products. Temenos Enterprise Pricing can be deployed on Temenos Transact or on any third-party core, helping larger banks burdened with complex, siloed legacy systems gain faster time to value as they start their modernization program. The powerful, enterprise-wide pricing engine supports hyper-personalization of products and services, and accelerates time to market for all products, increasing the bank’s profitability.
Larger banks are typically operating on large legacy technology stacks often with multiple core capabilities and disparate systems or product silos. These banks are struggling to compete with fintechs and neobanks, whose agility allows them to rapidly launch differentiated products and attract new customers. Developing and taking-to-market new products and pricing bundles across geographies, business lines and multiple, core banking systems requires a transformation program that banks cannot solve in-house. With Temenos Enterprise Pricing banks can address their immediate operational efficiency needs and start an incremental modernization journey.
With Temenos Enterprise Pricing banks can deliver innovative products and pricing bundles with competitive pricing based on the customers’ or entire households’ relationships with the bank and their behaviors to provide tailored rewards and promotions. Temenos enables banks to create products and pricing structures both across digital channels and within the banking core, making it the only technology provider capable of helping banks implement this approach through the entire value chain.
Temenos Enterprise Pricing also gives banks greater control over the fees they apply, centralizing product data from multiple legacy systems and disconnected applications. Banks gain better visibility of the product and pricing portfolio across the enterprise, which in turn reduces revenue leakage and optimizes profitability. This transparent pricing across products and services benefits the customer and the bank.
Christine Barry, Research Director, Aite Group, said: “In the commoditized world of banking, loyalty to a brand will be harder to create without delivering genuine advantages to customers who display loyal behaviors. Temenos Enterprise Pricing enables banks to manage products and pricing effectively delivering to their customers transparent, relationship-based pricing, innovative services and rewards schemes to delight them and create deeper relationships.”
Max Chuard, Chief Executive Officer, Temenos: “Max Chuard, Chief Executive Officer, Temenos: “With Temenos Enterprise Pricing, we give larger banks with legacy IT landscapes, burdened by multiple cores and disparate, siloed systems, the opportunity to solve their operational efficiency needs and start their modernization program, gaining faster time to value. This solution enhances our ability to meet the needs of larger banks, which represent approximately 60% of the total third-party market spend. Our next-generation SaaS solution enables banks to create new revenue streams by launching new compelling offerings and to apply dynamic pricing strategies to maximize profitability, increasing customer retention and boosting wallet share.”
Temenos Enterprise Pricing provides an enterprise-wide product repository, a ‘one-stop shop’ of all products and services. This enables banks to overcome the limitations of their legacy core banking or other, peripheral systems. It gives banks the agility to launch compelling products and services as well as product bundles by packaging their own and third-party products, crucially enabling them to price them appropriately. Banks can deliver benefits to customers through:
- value-based pricing determined by the overall customer relationship with the bank across business line silos;
- aggregation of financial products on a single platform;
- creation of new services that help people better manage their finances;
- providing insight into spending and saving habits; and
- widening access to products and services.
The microservices-based solution will be pre-integrated with Temenos Infinity Origination to originate products and pricing structures digitally through multiple channels and will provide AI-generated pricing propositions. Temenos Enterprise Pricing can also integrate with any front-office digital banking system. It is hyper-efficient, highly configurable and its open-API architecture allows for faster and simpler implementations. The solution is available as Software-as-a-Service managed by Temenos, or in the public cloud and on-premise run by the bank.
– Ends –
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.
Jessica Wolfe & Scott Rowe
Temenos Global Public Relations
Tel: +1 610 232 2793 & +44 20 7423 3857
Email : firstname.lastname@example.org
Alistair Kellie & Andrew Adie
Newgate Communications on behalf of Temenos
Tel: +44 20 7680 6550
About Business Wire
Subscribe 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
Colicity Inc. Announces Closing of $345 Million Initial Public Offering26.2.2021 23:00:00 CET | Press release
Colicity Inc. (the “Company”) announced the closing today of its initial public offering of 34,500,000 units, including the underwriters’ exercise of their full over-allotment option for 4,500,000 units, at a price of $10.00 per unit. The units are listed on the NASDAQ Stock Market (NASDAQ) and began trading under the ticker symbol “COLIU” on February 24, 2021. Each unit consists of one Class A share and one-fifth of one redeemable warrant, with each whole warrant exercisable to purchase one Class A share at a price of $11.50 per share. Only whole warrants will be exercisable. Once the securities comprising the units begin separate trading, the Class A shares and warrants are expected to be listed on the NASDAQ under the symbols “COLI” and “COLIW,” respectively. Colicity Inc. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company int
C3 AI and Baker Hughes to Provide Enterprise AI Solutions to Accelerate PETRONAS Digital Transformation Program26.2.2021 15:00:00 CET | Press release
C3 AI (NYSE: AI) and Baker Hughes today announced an artificial intelligence (AI) collaboration with PETRONAS, a global energy and solutions company from Malaysia, to apply BakerHughesC3.ai (BHC3) technology across PETRONAS’s strategic digital transformation programs. As the custodian of Malaysia's national oil and gas resources, PETRONAS runs an extensive digital transformation program across energy operations to extract value from data. The adoption of AI as part of its overall program for improved oil and gas productivity, asset integrity, and safety supports PETRONAS’s commitment to provide clean, efficient energy solutions by harnessing the power of technology. PETRONAS will work with energy technology, data science, and AI experts at Baker Hughes and C3 AI to collaborate on projects focused on improved reliability of energy assets in critical operations. Utilizing Microsoft Azure, PETRONAS will deploy the BHC3™ Reliability application to further improve maintenance programs for g
Avania in Position for Next Stage of Growth26.2.2021 14:00:00 CET | Press release
Avania, a leading global full-service contract research organization (CRO) focused on medical technology (MedTech) development, today announced that it has successfully refinanced its existing banking facilities with Crescent Capital Group. “This new banking facility allows us to accelerate our next phase of organic and acquisitive growth over the next few years,” said Edo van Houten, CFO of Avania. “This transaction is also a reflection of the progress we have made in our brand strategy and position in the market, and it demonstrates the confidence of the financial community in our operational and strategic plan.” Avania has navigated confidently through the COVID-19 pandemic, posting a strong year of growth in 2020 despite the pandemic. The company will continue its growth trajectory as a global MedTech-focused CRO, supporting products from concept through post-market support. MedTech is all Avania does, navigating innovative medical technologies to market effectively and efficiently
Ipsen Receives Positive CHMP Opinion Recommending Cabometyx ® in Combination With Opdivo ® as First-line Treatment for Patients Living With Advanced Renal Cell Carcinoma26.2.2021 12:37:00 CET | Press release
Regulatory News: Ipsen (Euronext: IPN; ADR: IPSEY) today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has recommended approval for Cabometyx® (cabozantinib) in combination with Bristol Myers Squibb’s Opdivo® (nivolumab) for the first-line treatment of advanced renal cell carcinoma (aRCC). The European Commission, which has the authority to approve medicines for the European Union (E.U.), will now review the CHMP recommendation and a final decision on the application in the E.U. is expected in the coming months. “Advanced renal cell carcinoma is a disease that significantly impacts the lives of people around the world. We’re proud to be able to share that the CHMP has confirmed a positive recommendation for Cabometyx® in combination with Opdivo®, bringing this impactful new treatment option one step closer for patients,” said Howard Mayer, Executive Vice President and Head of Research and Development, Ipsen. “At Ipsen, w
Hiro Capital Leads $15 Million of Games VC Investment Into Snowprint Studios, Double Loop Games and Happy Volcano Games26.2.2021 09:55:00 CET | Press release
Three international video game studios are the latest investments for Hiro Capital, the entrepreneur-led Venture Capital fund focused on backing innovators in Video Games, the Metaverse, Esports and Digital Fitness. The three mobile and cross-platform studios – Snowprint in Stockholm/Berlin, Double Loop Games in San Francisco and Happy Volcano in Belgium – will use Hiro’s investment to expand their development pipelines and accelerate global growth. They join UK and US Games studios Flavourworks, Polyarc and Lightfox in the Hiro Capital portfolio, alongside pioneers in the gamification of Games Streaming and Digital Fitness LIV.tv, Edgegap,FitXR and Nurvv. Ian Livingstone, co-founding partner at Hiro Capital, said, "We are excited to begin 2021 by announcing Hiro's investment in three amazing games studios, Snowprint, Double Loop and Happy Volcano. Each studio has demonstrated innovation and expertise in developing fun to play games which resonate with today’s audiences. I’m especially
Inspur Information Releases 2020 Global Computing Index Report26.2.2021 09:07:00 CET | Press release
Inspur Information, a leading IT infrastructure solutions provider, has sponsored an International Data Corporation (IDC) white paper on the 2020 Global Computing Index (henceforth referred to as The Report). As the world’s first index report on computing, The Report unveils the relationship between computing power and economic development and serves as a reference for the outlook of the global digital economy. Global digital transformation has entered a phase marked by exponential growth in innovation, with the size of the digital economy projected to continue on an upward trend. As a key factor that underlies digital technology development, computing is now defining the productivity of the digital economy era. According to The Report, economic growth directly correlates with the development of computing—one point of growth in the computing index translates to a 3.3‰ rise in the size of the digital economy and a 1.8‰ growth in GDP. Specifically, AI computing market share is projected
Incyte Announces the Validation by the European Medicines Agency of its Marketing Authorization Application for Retifanlimab as a Treatment for Patients with Squamous Cell Anal Carcinoma (SCAC)26.2.2021 09:00:00 CET | Press release
Incyte (Nasdaq:INCY) today announced the validation of the Company’s Marketing Authorization Application (MAA) for retifanlimab, an intravenous PD-1 inhibitor, as a potential treatment for adult patients with locally advanced or metastatic squamous cell anal carcinoma (SCAC) who have progressed on, or who are intolerant of, platinum-based chemotherapy. The European Medicines Agency’s (EMA) validation of the MAA confirms that the submission is sufficiently complete to begin the formal review process. “While the incidence of SCAC is increasing in Europe, treatment options for advanced disease are limited in their effectiveness, and there are no approved options once patients have progressed on standard therapy,” said Lance Leopold, M.D., Group Vice President, Immuno-Oncology Clinical Development, Incyte. “The EMA validation of the MAA for retifanlimab – which follows the recent U.S. Food & Drug Administration acceptance of our Biologics License Application for Priority Review – brings us
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