Following this announcement, Temenos and Deloitte Consulting LLP are expected to improve the manner in which financial institutions deliver modern digital experiences faster and with lower costs. At the same time, they will be enabled to take advantage of new business models and market opportunities, including Instant Payments and Banking-as-a-Service (BaaS).
The partnership builds on the close international cooperation between the two companies, aiming to allow a joint go-to-market strategy in the region of the US. In addition, it will also focus on opening a new channel for Temenos to accelerate market penetration in a secure and efficient way, in the large banks segment, as well as large-scale payment players of the industry.
Temenos and Deloitte are set to offer large bank clients a market-leading modernisation approach in order to address the competitive, regulatory, cost, and innovation drivers of the industry. Deloitte will work closely with Temenos, focusing on implementing their suite of services and expertise by using standardised, safe, and process-driven practices for a faster, low-risk deployment.
Throughout this agreement, customers and members will be given the possibility to access the industry experience, as well as the consulting strength of the Deloitte US firm and Temenos’s deep set of composable banking offerings, Software-as-a-Service (SaaS) tools, and its cloud-native banking platform.
A banking software company, Temenos will also prioritise the process of attracting US financial institutions of all sizes to its platform (such as large, medium, or small banks), which was developed in order to provide them with the opportunity of deployment on-premise, on any public cloud, or through the Temenos Banking on-premise deployment. Its open platform will also enable clients to achieve an optimised return on equity and cost-to-income ratios.
Both companies will also provide their services in order to modernise and optimise the core banking and payment capabilities of their bank partners and customers. At the same time, they will focus on financial institutions’ payment development across multiple payment schemes, evolving needs, preferences, and demands of users and clients, as well as evolving regulations. Furthermore, banks will be enabled to improve the experience of their customers, gain operational resiliency, and a secure position for ecosystem plays.
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