BforBank chooses Temenos on Google Cloud to support its future expansion

Temenos Open Platform for Composable Banking Will Open New Opportunities for Pioneering Digital Banking

GENEVA, May 17, 2022–(BUSINESS WIRE)–Temenos (SIX: TEMN) today announced that BforBank, Crédit Agricole Group’s all-digital bank, has chosen Temenos’ open platform for composable banking to support its future expansion. The bank is moving from an on-premises implementation to using Temenos’ core banking solutions on Google Cloud to exploit new growth opportunities and improve efficiency at scale.

A pioneer in digital banking, BforBank was launched in 2009, offering a new approach to online savings, life insurance, mutual funds and brokerage to the French affluent market. Online banking has since grown to offer a full range of retail banking services, with accounts, payments and loan products, including mortgages. Offering a simple and highly personalized experience “allowing customers to become their own private banker” has allowed BforBank to differentiate itself in an increasingly competitive market.

Since its inception, Temenos core banking software has underpinned the bank’s back office operations. As banking becomes increasingly collaborative, moving to cloud-native and API-first on Google Cloud will give banking agility, flexibility and scalability at massive scale to launch new services more quickly and at lower cost.

Pascal Luigi, Deputy Managing Director, BforBank, commented: “The world of banking is changing rapidly. After 12 years of successful operations and in anticipation of new strategic initiatives, we wanted to question our initial choices. We started a complex process and tested several software vendors with a proof of concept on Google Cloud. Temenos was simply the obvious choice, having invested relentlessly over the past few years to offer the most open and secure cloud banking platform for composing and deploying banking services at scale. »

Max Chuard, CEO of Temenos, said: “We have built a partnership of trust with BforBank and its parent company Crédit Agricole for many years. As BforBank looks to the future, we are excited to continue this relationship to support its growth ambitions. Being at the forefront of the new banking world requires an open, cloud-native approach, enabled by AI, open APIs, and modern DevOps practices, and that’s what Temenos delivers. Being chosen as the cloud banking platform for BforBank shows the bank’s confidence in Temenos to drive innovation and create new opportunities. »

Zac Maufe, Head of Financial Services at Google Cloud, added: “In banking, there is growing evidence that cloud technology is not only a driver of efficiency, but also an enabler of change. Through our partnership with Temenos, we look forward to fueling BforBank’s digital transformation that will enhance its banking services with highly connected and personalized interactions for customers at scale. »

– End –

About Temenos

Temenos AG (SIX: TEMN) is the world leader in banking software. More than 3,000 banks around the world, including 41 of the top 50 global banks, trust Temenos for the day-to-day processing of their transactions and the interactions of more than 1.2 billion banking customers. Temenos offers cloud-native, AI-agnostic, and front-office, cloud-native and AI-powered banking software that enables banks to deliver a seamless omnichannel customer experience and achieve operational excellence.

Temenos software has proven to enable its top performing customers to achieve cost-income ratios of 26.8%, half the industry average, and a return on equity of 29%, or three times the industry average. These customers also invest 51% of their IT budget in growth and innovation versus maintenance, twice the industry average, proving that banks’ IT investments add tangible value to their business.

For more information, please visit www.temenos.com.

The text of the press release resulting from a translation should in no way be considered official. The only authentic version of the press release is that of the press release in its original language. The translation will always have to be compared with the source text, which will set a precedent.

View the source version on businesswire.com: https://www.businesswire.com/news/home/20220516005830/en/

contacts

Media
Jessica Wolfe & Scott Rowe
Temenos Global Public Relations
Tel: +1 610 232 2793 & +44 20 7423 3857
Email: [email protected]

Alistair Kellie & Andrew Adie
Newgate Communications on behalf of Temenos
Tel: +44 20 7680 6550
Email: [email protected]

Leave a Comment