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Core banking is offered as a service on the cloud.

The collaboration wants to create a comprehensive offering to support banks with improved agility, increased performance, and security. With this, Temenos aims to provide its clients with more choices as it looks to have the Temenos Banking Cloud become among the most extensive Saas solutions covering a wide range of regional and governance requirements, data standards, and certifications. What does core banking mean for Temenos? According to the information in the press release, running Temenos Banking Cloud composable banking services on Amazon Web Services is believed to enable retail, commercial, and private banks to gain better agility, higher performance, and security. The goal of the collaboration is to increase the availability of banking services that are both trusted and reliable across the globe. high availability throughout varied regions and address data sovereignty requirements free of expensive (on-site) redundant infrastructure is provided by Temenos. Prema Varadhan, President of Product and Chief Operating Officer, said that the company is looking forward to expanding its activity in the cloud and strengthening its strategic collaboration with Amazon Web Services. The partnership enables the company to provide customers with increased choice and cement its commitment to its multi-cloud strategy, as more than 700 clients are live on Temenos Banking Cloud across five continents. According to Yves Dupuy, Leader Financial Services Industry Solutions, banks are moving to the cloud to be more efficient and to drive business growth. According to their statement, Temenos can provide high performance and increased value via its composable, cloud banking services, assisting FIs in their transformation journey to offer improved customer experience and become more sustainable. The collaboration journey of Amazon Web Services and Temenos. Banking customers ranging from tier-one banks to digital banks were the first to benefit from the integration of the former’s open platform onto Amazon Web Services. In order to assist banks with delivering products in an expedited manner, Temenos launched its digital banking solutions on Amazon Web Services. The announcement states that the collaboration between the two companies helped enable continuous innovation with partners of the likes of Yugabyte and MongoDB, assisting banks to scale in an efficient manner. It is possible for a bank to reduce their carbon footprint and support them in achieving their environmental-, social-, and governance-related (ESG) goals.