DUBLIN, Ireland, May 14, 2024 (GLOBE NEWSWIRE) -- Temenos Community Forum --
Temenos (SIX: TEMN) today introduced Temenos Positions, a financial processing
solution designed to transform banking operations for institutions with complex,
multi-core systems across multiple lines of business in both Retail and
Corporate banking.
Temenos Positions serves as a real-time source for maintaining and sharing
balances, instruments, and financial movements across an entire bank's system
landscape, regardless of underlying technology stack. This allows banks to
reduce operational risk, increase financial efficiency, and develop and quickly
take to market complex financial products and services, thus increasing
profitability and customer experience.
Many banks today run on legacy technology stacks with multiple core systems
operating in silos and face massive challenges in core transformation because of
the complexity of replacing the entire IT landscape. This results in a lack of a
360-degree view of real-time financial positions, high costs of integration and
reconciliation and manual processing. With Temenos Financial Positions, banks
can address their immediate operational efficiency needs and can also embark on
a progressive modernization journey without having to transform their entire
core banking platform.
Composed of Temenos banking capabilities, Temenos Positions leverages decades of
investment in the Temenos core banking platform. This investment ensures that it
can meet the complex use cases for back value processing and multiple balance
types. The solution is designed for serverless deployment - a new leaner and
faster way for Temenos to build and release solutions. This new deployment
technology builds and deploys capabilities as discrete libraries offering up to
30% faster deployment and supporting cloud-native deployments on a single
database. Additionally, the solution is extensible to other related areas such
as party and pricing, further enhancing its versatility.
Jost Hoppermann, Hoppermann Advisory, said: "Most banks are burdened by a legacy
debt of multiple core systems from different generations, and many need to
manage the co-existence of legacy and modern cores. With Temenos Positions,
Temenos is offering a lean solution that will help isolate different
architectural elements, move off older back-end capabilities, and add new front-
end capabilities in a smoother way. A real-time data source of truth is
essential for evolutionary transformation
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banks to deliver an improved customer experience, with real-time updates on
account balances, enhancing transparency and trust."
Tony Coleman, Chief Technology and Innovation Officer, Temenos, commented: "The
inconvenient truth for many banks is that they have no real-time positions or
funds authorization across the enterprise. Temenos Positions solves this problem
by providing a real-time source for all balances and funds authorization.
Engineered to handle a vast number of instruments and high-volume processing,
Temenos Positions can process high volumes of instruments efficiently and at
scale. It does this without Close of Business processing, just a simple date
flip, making it ideal for banks with large transaction volumes."
About Temenos
Temenos (SIX: TEMN) is the world's leading platform for composable banking,
serving clients in 150 countries by helping them build new banking services and
state-of-the-art customer experiences. Top performing banks using Temenos
software achieve cost-income ratios almost half the industry average and returns
on equity 2X the industry average. Their IT spend on growth and innovation is
also 2X the industry average.
For more information, please visit www.temenos.com (http://www.temenos.com).
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