TEMENOS AG SP/ADR - TMSNY STOCK NEWS

Temenos has announced a partnership with HBL, Pakistan's largest bank, to implement its core banking platform for HBL's over 25 million clients. This transition aims to enhance HBL's services and improve user experience through increased reliability and security. The technology will facilitate faster onboarding and transaction processing, catering to both conventional and Islamic banking clients. The platform will also assist in compliance with local banking regulations and enhance international reporting standards.

Temenos has unveiled new Banking Services tailored for challenger banks, enhancing their operational efficiency and innovation. With over 70 neobank customers, including Varo Bank and Green Dot, Temenos emphasizes rapid deployment and cost-effectiveness via its Banking Cloud. These services include Retail Banking, Financial Crime Mitigation, and AI-driven solutions, enabling neobanks to offer customized experiences. Temenos plans to invest over USD 1bn in R&D to further enhance its service offerings, strengthening its position in the banking software sector.

Temenos has launched Infinity Digital for Salesforce, integrating with Salesforce Financial Services Cloud to enhance banking operations. This solution provides a holistic view of customer interactions, improving onboarding, origination, and servicing processes. Banks can synchronize data between Salesforce and their core banking systems, resulting in a 360-degree customer view and streamlined operations. The offering aims to deliver hyper-personalized experiences, ensuring banks meet evolving customer needs in an omnichannel environment.

Temenos has launched a new Buy-Now-Pay-Later (BNPL) banking service designed for banks and fintechs to offer AI-driven installment loans at the point of purchase. This service aims to create new revenue streams and enhance consumer relationships. Utilizing Explainable AI, it promotes ethical lending by ensuring transparency in automated decisions. The BNPL service, independent of any core banking system, allows quick implementation without new IT investment. Temenos aims to cater to the rising demand for frictionless digital financial solutions, evidenced by a 45% increase in online BNPL revenue since 2019.

Temenos has launched its new Composable Banking Services, enhancing its cloud-native platform for banks and non-banks. These services aim to accelerate product time-to-market by integrating third-party solutions through the Temenos Exchange. With new offerings such as Buy Now, Pay Later and KYC Risk Assessment, Temenos supports companies in meeting customer demands while reducing development costs. The platform enables seamless deployment across clouds or on-premise with significant operational cost reductions.

Temenos expands its partnership with Microsoft to enhance banking services via the Temenos Banking Cloud on Microsoft Azure. The collaboration aims to meet the rising demand for SaaS in the banking sector, enabling operational efficiency and innovation. The partnership also focuses on Green Cloud initiatives to reduce banks' carbon footprints and support ESG goals, with research indicating businesses can achieve up to 98% lower carbon emissions using Microsoft’s infrastructure. Temenos serves over 3,000 financial institutions globally, highlighting its strong industry presence.

72% of IT executives in the banking sector believe moving to the cloud will help meet business priorities, with 47% stating it will do so significantly. Cost (43%), AI adoption (34%), and customer experience improvement (21%) are key drivers for cloud adoption. The pandemic has accelerated cloud usage, with 82% of IT executives now having a clear strategy for its implementation. Despite the benefits, firms face challenges including security and compliance issues. Temenos, a leader in banking software, supports banks in leveraging cloud technologies for operational excellence.