Temenos and IBM Help Banks Accelerate Their Core Banking Modernization with Hybrid Cloud
The partnership aims to help accelerate banks’ digital transformation programs by providing enhanced security, operational efficiency, innovation and enabling regulatory alignment.
Temenos open platform, running on Red Hat OpenShift, is now available on IBM Power, LinuxONE and IBM Cloud for Financial Services® to enable banks to realize the benefits of hybrid cloud. The partnership aims to help accelerate banks’ digital transformation programs by providing enhanced security, operational efficiency, innovation and enabling regulatory alignment. It is also designed to enable modernization of technology stacks and coexistence with hybrid cloud platforms.
A hybrid approach — distributing workloads across on-premises, public, and private clouds, enables banks to progressively renovate and take advantage of the cloud benefits as a way to accelerate and scale digital transformation. Temenos provides a clear modernization path for banks with complex IT systems that look to extend and adopt a hybrid cloud strategy for their core banking systems and take advantage of new technologies such as Explainable AI.
Temenos has now certified its core banking solution with Red Hat OpenShift for IBM Power and IBM LinuxONE and Temenos is validated on the IBM Cloud for Financial Services.
IBM is a platinum sponsor at Temenos Community Forum, 9 – 11 May and will be discussing these new updates during the keynote: “IBM & Temenos: Enabling a modern, sustainable hybrid cloud.”
Temenos is collaborating with IBM to deliver solutions on Red Hat OpenShift designed to elastically scale in response to the needs of banking clients, as well as identify early adopter banks for these offerings. To accelerate and derisk banks’ digital transformation, IBM’s open hybrid cloud approach helps to drive scalability, operational efficiency, and innovation, by leveraging Temenos, IBM Technology and IBM Consulting assets and expertise.
Ross Mallace, Executive Vice President, Global Head of SaaS and Partner Ecosystem Temenos, said:
“With Temenos modern technology we are putting banks in control of their business models, giving them the speed to build great customer products and sustainable businesses. Our collaboration with IBM helps banks accelerate their journey to hybrid cloud and start receiving the benefits of a modern cloud-native banking platform. With Temenos’ AI-powered technology, banks can innovate faster, create new business models and future-proof their business in the cloud era.”
Fabio Cesaretti, VP, Senior Partner Financial Services IBM Consulting, said:
“Financial institutions use hybrid cloud to gain the needed flexibility to innovate their business, while improving efficiency and resilience in operations. Answering to the need of a progressive cloud transformation, IBM partners with Temenos to help banks modernize with hybrid cloud. We have been teaming up with Temenos successfully for decades to help financial institutions around the world deploy next-generation banking technology, reduce costs, and exploit new pockets of profitability.”
IBM Power servers are designed to enable clients to modernize mission-critical applications on an established cloud-native platform, leveraging flexible capacity on-demand to make better informed decisions, faster. Leveraging hybrid cloud on Power enables clients to grow as needed with an affordable base configuration and then scale private cloud capacity on-demand.
Temenos’ platform can easily integrate into any complex tier-one landscape, while IBM LinuxONE is engineered for sustainability with the highest quality of security, reliability, scalability, and data-driven customer engagements. This combination is designed for banks to easily optimize their technology without disruption to their mission-critical workloads.
IBM Cloud for Financial Services® is designed to help financial institutions reduce the complexity of managing ISV and SaaS workloads while helping institutions demonstrate regulatory compliance more efficiently. The Security and Compliance Center and compliance framework of IBM Cloud for Financial Services is helping clients and partners to accelerate deployment of cloud solutions adhering to the compliance and regulatory requirements of the highly regulated financial services industry. With its validation on the framework, deployment of Temenos cloud services will accelerate.