Open up your banking platform to accelerate the pace of innovation around your services.
Temenos' Interaction offering accelerates the pace of innovation around banks' services, by enabling them to easily expose their services to innovation partners and to any user-interface (UI). It also lets the bank create innovative combined services and efficiently manage UIs across multiple channels/devices/roles/languages.
Issues faced in Interaction
Our Interaction offering addresses the lack of competitiveness, flexibility and cost-efficiency faced by banks that still try to develop all of their user-interfaces (UIs) themselves, and that rigidly bind their UIs to their underlying business systems. Your bank will benefit from our Interaction offering if it:
- Struggles to collaborate with external innovation partners to develop outstanding UIs, with the aim of better serving specific customer segments and untapped customer bases
- Struggles to boost the breadth of distribution of its services by making them readily available to third-party UIs (e.g. mortgage rates to a real-estate agency app)
- Feels increasingly vulnerable to disruptive competition because it does not have the foundations to offer an outstanding digital experience without incurring unsustainably high costs
- Bears excessively high costs from evolving its user-interfaces (UIs) at the required pace, due to the rigid links between its business systems and UIs
- Bears excessively high costs from having to develop and maintain its UIs as many times as there are channels, devices, roles and languages
- Is not ready to implement regulations on customer access to/control over personal banking data
How the Interaction offering helps
Our Interaction offering makes your bank much more competitive, flexible and cost-efficient. Most importantly, it enables you to easily build and maintain an outstanding digital customer experience, that can evolve fast and cost-efficiently. Our Interaction products and framework are for you if you are seeking enhanced:
- Innovation - the ability to make your banking services readily available in a standard way to innovation partners and to any third-party user-interface (UI) of your choosing, which will accelerate the pace of innovation around your services
- Competitiveness - the ability to cost-efficiently distribute innovative services, including combined (banking and/or non-banking) services, via outstanding UIs and multiple channels/devices
- Flexibility - make it much easier to evolve UIs at a faster pace than underlying business systems without incurring substantial costs (from "ripping out" and "rewiring")
- Cost-efficiency - reduce your dependence on vendor-specialized experts and on lengthy coding cycles to make your services readily available and to build your own UIs, and, also enhance the re-usability of APIs and UIs that you create, and pre-empt data openness regulatory requirements
"The User-Experience Platform generates 60% savings on user-interface (UI) development costs on first project, rising to 95% on subsequent projects, and reduces the time-to-market for UIs by up to 4x."
How it works
Our Interaction offering consists of products and also proposes an optimal way (framework) in which to deploy them in the bank.
- Design Studio for APIs provides an intuitive graphical environment that commodity specialists in the bank can use to easily configure what data and functionality Core Banking system should be made readily available in a standard way (APIs) to selected third-parties. It provides the foundations for an open banking platform.
- The User-Experience Platform enables commodity specialists to develop and change a UI/app, including hybrid mobile applications, just once and have that change automatically reflected across multiple channels, devices, browsers, user roles, brands and languages.
- Design Studio for Webservices provides an intuitive graphical environment that commodity specialists can use to easily build and deploy web services. It maintains a clear separation of the service definition within the bank's Core Banking system and the technical tooling used to publish services to the enterprise.
- The Interaction Framework lets the bank exploit some of the above products in combination with standard third-party middleware and industry-standard protocols and formats, in order to build a highly flexible, internet-like network of business systems and UIs. This framework is part of Temenos' approach to implementing enterprise architecture in the bank in order to reduce its cost-per-transaction.