How Building Societies Can Transform Their Electronic Payment Strategies With Temenos’ Cloud
As financial institutions deal with the transformations needed to their payments infrastructures, they need a partner with experience of helping complex financial organisations modernise their practices and equipment.
The expectations of financial institution customers are increasing on many fronts. They need a partner with the experience of Temenos. We have experience in solving most of the problems financial institution face, such as the implementation of Open Banking and achieving the goals of faster, real-time, and more flexible payments. These and many other customer demands are placing ever-increasing strains on building societies’ legacy systems. Temenos has helped over 3,000 banks and building societies, in 150 countries, drive digital transformation.
Soon, financial institutions will be providing products and services that don’t yet exist and that customers don’t even know they want yet. This is not surprising. As research outfit Ovum points out in its recent report: Making the Business Case for Payment Transformation: “Our customers live in a world where smartphone apps are routinely upgraded in weekly development cycles.” Seeing this pace of change on their mobile devices, customers do not understand why their banks cannot innovate at the same speed.
We know that most financial institutions have a crucial goal of digitising all of their systems and moving to a single digital, cloud-based platform. This is a formidable task, but one which Temenos has carried out for many financial institutions. We know that no two installations are the same. We also know that the journey you need to embark on is one for which you need a partner with the breadth and depth of knowledge to provide flexible, scalable and reliable cloud-based banking and payments solutions.
The real value of a partnership is in shared values, for without shared values, shared goals are hard to achieve.
We are passionate about excellent customer service, building thriving communities and nurturing environments where rapidly transformation provides real customer value.
Temenos is the payments transformation partner of choice for institutions looking to move from legacy architecture onto a single digital cloud-based platform. Payments platform modernisation is a strategic undertaking and success will not be achieved overnight, so more than just a supplier is needed. Temenos is the partner with whom to collaborate over the lifetime of such a project. Temenos brings the breadth and depth of knowledge from being the first banking and payments software provider in the cloud, massive investment in research and development, and continuous improvement in technology and functionality. The Temenos Payments Hub, cloud-native, API first open architecture enables payment system resilience and future proofing so that our customers can quickly and easily adapt to the increasingly demanding and changing needs of their customers.
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