Cloud computing is the future of banking technology
It’s just a matter of time before all financial institutions move their technology to the cloud.
As banks adapt to market changes and new technology landscapes, cloud computing is playing a major role, providing alternative ways to access to core banking technology.
The spiralling costs of deploying and maintaining complex in-house legacy systems, along with the need to keep up with consumer expectations, are leading banks to increasingly demand innovative, flexible and cost-effective deployment models for their banking solutions.
With Temenos, you have the option to access our banking solutions via the cloud rather than installing in house. Cloud offers a scalable, manageable technology model that reduces IT hardware, maintenance and development costs.
This in turn gives you the agility and flexibility to embrace new markets, new services and new channels, in line with consumer needs.
To find out more about the industry shift to cloud banking read our white papers below.
Cloud delivery model
Temenos banking solutions are also available via a cloud-based delivery model. Cloud offers a scalable, manageable technology model that reduces IT hardware, maintenance and development costs, which makes it the ideal deployment choice for a Model Bank.
New entrant banks are not generally burdened by complicated IT systems, and do not wish to be. By deploying core banking in the cloud, start-up banks are able to remain customer and market focused, while entrusting technology partners with IT service delivery.
The ability to outsource the delivery of banking technology as a cloud-based service means new entrant banks have access to a highly secure, always-on, industry-leading core banking technology, without the need for significant internal IT resources and expensive infrastructure of their own.
- Established banks looking for innovative ways to increase return on equity and renew their focus on the customer proposition
- New entrant banks and banks in emerging markets that wish to move fast without the burden of complicated IT systems
- Microfinance institutions looking for cost-effective solutions that help them speed up the real economic benefit they deliver
- Credit unions looking for the same standard of technology as banks, but without the complexity, enabling them to focus on their members and service.