To help the underserved small- and medium-sized enterprise (SMEs) sector in the UK, AlbaCo aims to launch a challenger bank in 2020 that will provide personalized lending and savings products. To realize its plans, the bank will utilize Temenos SaaS, which provides access to Temenos Transact and Temenos Infinity solutions running on the Microsoft public cloud platform, with Temenos delivering full operations and application management services. Working with Temenos and systems integrator Syncordis, AlbaCo will achieve a rapid go-live, and bring much-needed financial services to a vital part of the UK economy. Pre-configured UK Model Bank functionality will help AlbaCo to meet its regulatory compliance goals, while the cloud deployment using Temenos SaaS will keep costs low and contribute to a fast return on investment.
”It is important for us that Alba is ‘born in the cloud’, with market requirements already built in enabling us to set up our bank quickly. Serving both incumbent and challenger banks, Temenos has the knowledge and the ability to deliver a timely, cutting-edge and future-proof digital banking platform.”Rod Ashley, CEO