Temenos has always believed in offering banks the flexibility to innovate, to take control of their own systems and to shorten the time between imagining a new product or solution and having it live. Originally this was achieved by making the systems driven by parameters, ensuring that there was a minimal need to write software to enable new processes or products. The world has moved on, with banks increasingly focussing on creating ecosystems of complementary partners to bring differentiated and potentially micro-targeted solutions to new and evolving customer segments. This means that banks need to have the ability to reach beyond their own enterprise boundaries and systems. Temenos has always embraced this, extending the flexibility of its systems to the area of integration. New times, have however, allowed new approaches to be taken. Temenos's first step into the emerging trend of pre-packaged third party solutions was to create the innovative MarketPlace community, where a collection of innovative fintech solutions continues to be curated by Temenos and offered on a pre-integrated basis for clients to use.
As an extension to this, Temenos now offers not only advanced tooling to enabling banks to create their own APIs, but is also offering a pre-packaged set of published APIs which allow Temenos clients to offer integration capabilities to third party suppliers "out of the box". These APIs can also be extended by banks using standard configuration tools, but the availability of a pre-configured and published set of APIs will help banks to further shorten the time between innovation design and implementation.
Of particular note, this will enable the ecosystem of partners and individual consultants to quickly develop new solutions which Temenos clients can immediately take advantage of. Clients can, of course, also directly engage with the over 4,000 individuals who are certified in the broader Temenos community to develop commercially relevant and innovative solutions, all built around the firm foundation of Temenos's T24 core banking solution. The nature of the APIs ensure that the core system remains fully upgradeable, and hence capable of receiving ongoing Temenos generated enhancements, but also allows for agile and focussed partner solutions to be used as required with a minimum of effort.