Banking in the Cloud
Until now, technology has typically been a costly hurdle for financial institutions, particularly those in emerging markets where developing customized solutions or investing in advanced banking platforms has either been unfeasible or the result has been too many failures, too many resources used and too much time wasted.
Cloud computing, which in the most basic of terms offers unlimited computing resource as a service on a pay-per-use basis, is proven to directly translate to less upfront, capital expense and reduced IT overheads, offering a cost-effective, simple alternative to accessing enterprise-level IT without the associated costs.
Recognizing the value of cloud computing, Temenos has made a significant investment in its products to ensure they run natively on the Microsoft Windows Azure platform, Microsoft’s cloud computing environment.
This development not only makes Temenos the first technology provider in the world to take a complete banking system to a public cloud environment but puts into practice the real value cloud computing can bring to the financial world.