Core Banking Software
Everything starts with core
The Temenos core banking platform has been the best-selling solution on the market for 15 years, used by over 600 financial institutions.
It combines rich functionality with cutting-edge technology in an easily upgradable application. Its customers benefit from real-time embedded analytics, a sophisticated product builder and technology that allows for easy integration and infinite scalability, in turn enabling them to significantly outperform their peers.
What are the Core Banking System Issues
In around 80% of cases, financial institutions run core banking systems they built themselves; pre-internet era systems designed for 9 to 5 branch banking and patched up over time to meet changing technology and customer needs. This has left them with major issues:
- Risk and complexity - A typical universal bank runs more than 180 badly-documented applications, restricting flexibility but also creating thousands of points of failure
- Scalability - Banking systems can't keep up with the exponential growth in volumes brought about by the digitization of banking, and soon the Internet of Things
- High expenditure and opportunity cost - According to Celent, the cost of maintaining ageing legacy banking systems eats up more than 75% of banks' IT budgets, leaving little for value-enhancing expenditure
- An expectations gap - Customers want financial institutions to perform the role of infomediaries, helping them to make better financial and commercial decisions. To achieve this, banks need real-time, integrated systems
How our core banking solution helps
The Temenos Core Banking solution is an open, integrated and real-time platform providing:
- Real-time, complete customer information – enabling financial institutions to offer their customers the right products at the right time
- Product builder – allows for extremely quick time to market for new products, as well as the ability to personalize products and services to individual customers; a market of one
- Infinite scalability – the solutions run on any software stack and is engineered to be linearly scalable, allowing customers to generate significant economies of scale
- Extremely low TCO – against the industry average of 78.8% of IT budgets being spent on maintenance, Temenos customers spend 44.3%
- Zero risk of obsolescence – Temenos spends more than 20% of sales annually on R&D, continually developing financial and banking software based on customer requirements and innovation from our labs. We make this available to customers through regular releases, ensuring once they've caught up, they never fall behind again
How our core banking software is delivered
There is a growing realisation of the need to replace ageing core banking systems, but where to start and how to mitigate risk?
- Temenos boasts an extremely broad range of system integration and consulting partners, bringing you choice and a deep pool of experience to help with your system migration
- Our core banking system can be deployed on premise, on a range of hardware platforms, or on shared infrastructure, allowing you to keep your existing infrastructure, move to a lower cost stack or not have to worry about infrastructure at all
- The Temenos core bankning system is modular, allowing for progressive renovation and build and migrate strategies, which dramatically reduce risk and speed up time to value