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Following their vision—“Everything starts with core”— Temenos’ core banking platform is a feature-rich upgradable application, offering real-time embedded analytics, integration, scalability, and sophisticated product builder to address the impediments in replacing ageing traditional core systems. As rapid adoption of technology is disrupting the banking frontiers, Temenos Core Banking solution’s open architecture delivers cutting-edge technology and meets the evolving customer needs in the banking industry.
In a nutshell, Temenos Core Banking solution assists financial institutions in delivering real-time and complete information to their customers and offers quick time to market for new products. The system’s capabilities, products and services are also personalized and tailored to meet the industry-specific needs of clients. The highly scalable Temenos solution is available at a TCO where clients spend 44.3 percent of their IT budgets in comparison to the 78.8 percent spent by their peers on maintenance.
Core banking replacement remains absolutely fundamental to a successful digitization strategy
The company disburses more than 20 percent of its revenue annually on R&D to keep abreast of the latest trends and changing customer requirements to develop apt software solutions. Temenos Core Banking solution has been a preferred choice for many banks to optimize their core banking systems. The company partnered with Al Khaliji, a fast-growing next-generation bank in Qatar, where the Temenos platform assisted the client to replace its fragmented traditional core environment with a single fully-integrated system, covering all aspects of their business. In a time span of 15 months, the core system was replaced bringing down the cost of maintenance substantially.
The risks and the cost of failure associated with replacing a core banking system have restrained banks and financial institutions to replace their legacy systems. However, right from the outset, Temenos has been dedicated to take the leap beyond the industry standards and has challenged the status quo with its innovative solutions.