Supporting banks to succeed through the digital revolution
Temenos’ Community Forum 2014 – the largest to date – commences today
GENEVA, Switzerland – 20 May 2014 – Temenos (SIX: TEMN), the market-leading provider of mission-critical solutions to the financial services industry, today announces the opening of the 16th Temenos Community Forum (TCF), a two-day conference held in Rome this year, at which over 900 delegates from across the financial services industry will meet to discuss major industry and technology trends.
Delegates at TCF 2014 will discuss the massive technology changes that are driving digitization of the banking industry, including cloud, big data, mobility and social media. The event will look at how this digital revolution is reshaping the industry, fundamentally resetting profitability, allowing non-traditional competitors to enter the market, changing customer behaviour and threatening disintermediation of traditional players. It will build on our recently published paper Restoring profitability in the digital age to explore the ways that the banking industry can restore profitability and create competitive advantage through updating their legacy systems and adopting a digital strategy.
Temenos is very fortunate to be joined by some of the key disruptors of the market, including Jim McKelvey, co-founder of Square, who will make a keynote presentation, and senior representatives from M-Shwari, nD bancgroup and eToro, who will be speaking on a panel hosted by IDC. They will be joined by other high-profile speakers from our network of partners including Accenture, Deloitte, IBM and many others.
During the conference, Temenos will be showcasing many new product solutions for the digital age. These include the launch of Temenos Connect Mobile Banking (TCMB) – the world’s first mobile banking solution to be underpinned by a user experience platform that drives multi-device banking solutions. TCMB is a next generation ‘smart hybrid’ solution that combines the benefits of both native and web-based approaches, allowing you to provide rich user experiences with optimised performance but with increased levels of agility to respond to market requirements and significantly reduce distribution overheads. Temenos will also launch four new apps built with Microsoft on Windows 8. In addition, the team will demo the Temenos Payment Suite and major enhancements across existing products, including T24 for corporate banking, where we launch forfaiting and factoring as the foundation for full supply chain finance, wealth management and solutions for digital channels.
In addition, in line with our enterprise strategy and in support of the digital revolution we will be presenting the Temenos Data Framework which separates the transactional database from the reporting database, enabling 1000x more queries as needed for mobile channels and the ‘internet-of-things’. The Design Framework now improves productivity in channels through Design Studio for Temenos Connect, in the front office through Design Studio for Triple’ A Plus, and in the back office through Design Studio for T24.
For existing T24 customers currently running on premise, Temenos is launching its “Upgrade to SaaS” offering which enables these customers to migrate their T24 solution into the Cloud. This will allow banks to benefit from the significant advantages of running T24 in the cloud, reducing cost, improving reliability, security and enabling banks to focus on banking while Temenos focuses on software.
David Arnott, CEO, Temenos, said:
“I am very pleased to be hosting the largest TCF ever. Digitization gives more power to consumers by making information more transparent, by giving them more choice, and by enabling them to bank through new channels. There is no doubt that traditional banks can be successful. But to do so, they need to leverage existing sources of competitive advantage, such as their data and their client relationships, as well as develop new points of differentiation, such as around efficiency. Temenos has the products to help our customers to develop and execute winning strategies that will see them succeed through the digital revolution.
“TCF has always received very positive feedback from our attendees, and with more attendees, product launches, breakouts, innovation forums, partner and company updates than before, we are confident that this year’s event will be our best yet.”