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Rakuten Europe Bank Partners With Temenos to Take Banking to the Cloud
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Rakuten Europe Bank has partnered with Temenos to implement its Banking Cloud, enhancing its member experience and accelerating product development. This transition aims to boost growth across Europe by leveraging Temenos' scalable and secure open platform. The partnership will facilitate the rapid deployment of services like Rakuten Pay and improve data analytics capabilities. With Temenos' pre-composed banking services, Rakuten Europe Bank aims to innovate and better serve its over 1.6 billion members.
Positive
Partnership with Temenos will enhance member experience and accelerate product development.
Implementation of Temenos Banking Cloud enables improved data analytics for better service delivery.
Greater agility and scalability to innovate banking services for over 1.6 billion members.
Negative
None.
Rakuten Europe Bank adopts Temenos open platform for composable banking to enhance its member experience, speed the development of new payment products and enter new markets
GENEVA--(BUSINESS WIRE)--
Temenos (SIX: TEMN), the banking software company, today announced that Rakuten Europe Bank – part of the Rakuten group, a unique ecosystem of 70+ businesses and over 1.6 billion members worldwide – has signed with Temenos to deliver banking services including Rakuten Pay on the Temenos Banking Cloud. Powered by Temenos open platform, Rakuten Europe Bank will accelerate its growth across Europe.
The move to Temenos open platform for composable banking will allow Rakuten Europe Bank to continue to enhance the member experience, speed the development of new products, and enter new markets. It also provides massive scalability for the bank to analyze the enormous volumes of data generated every minute by member activity to improve the online experience of all members.
Temenos Banking Cloud provides a resilient, secure and fully compliant service to power Rakuten Europe Bank in Luxembourg, one of the most tightly regulated banking markets in Europe. The implementation for Rakuten Europe Bank will include pre-composed Temenos Banking Services for Payments and Accounts.
Toshihiko Otsuka, Chief Executive Officer, Rakuten Europe Bank, commented: “The move to the Temenos Banking Cloud is an important milestone for Rakuten Europe Bank in its ongoing expansion in Europe. It provides the flexibility we need to scale and extend our banking services. Ultimately, our aim is to deliver more value and innovation to enhance the experience for our members in the region.”
Max Chuard, Chief Executive Officer, Temenos, said: “We are delighted to welcome Rakuten Europe Bank to the Temenos Banking Cloud. At Temenos, we share Rakuten’s passion for innovation and are excited to support them achieve their ambitions goals. With a global ecosystem of more than 1.6 billion members, Rakuten understands the power of data to empower society. On Temenos Banking Cloud, the bank will have unmatched agility and scalability to enhance its banking capability and member experience.”
Temenos Banking Cloud delivers an open and secure cloud-native platform for composing, extending and deploying banking capabilities at scale. Composed Temenos Banking Services consist of pre-configured and pre-assembled Temenos Banking Capabilities plus optional integrated third-party solutions from the Temenos Exchange. This helps banks and non-banks to bring innovative products to market faster to meet growing customer expectations while reducing the cost of development. Temenos recently announced new Temenos Banking Services, including Buy Now, Pay Later, Retail Lending, Payment Fraud Mitigation, and KYC Customer Risk Assessment.
Media Contacts
Jessica Wolfe & Scott Rowe Temenos Global Public Relations
Tel: +1 610 232 2793 & +44 20 7423 3857
Email : press@temenos.com
Alistair Kellie & Andrew Adie Newgate Communications on behalf of Temenos
Tel: +44 20 7680 6550
Email: allnewgatetemenos@newgatecomms.com
Source: Temenos
FAQ
What is the significance of Rakuten Europe Bank's partnership with Temenos?
The partnership allows Rakuten Europe Bank to enhance its services and innovate faster through the Temenos Banking Cloud, improving member experience.
How will the Temenos Banking Cloud impact Rakuten Europe Bank's operations?
The cloud platform will provide scalability and agility, enabling faster development of new products and improved data analytics capabilities.
What services will Rakuten Europe Bank offer with the Temenos platform?
The implementation will include services like Rakuten Pay and pre-composed banking services for Payments and Accounts.
How does this partnership benefit Rakuten's global member base?
The collaboration with Temenos aims to deliver greater value and innovation, enhancing the overall experience for Rakuten's 1.6 billion members worldwide.
In which regions will Rakuten Europe Bank expand its services using Temenos?
Rakuten Europe Bank aims to accelerate growth specifically across Europe.
