MALVERN, Pennsylvania – August 29, 2017 – Temenos (SIX: TEMN), the software specialist for banking and finance, today announces that Baxter Credit Union (BCU) has successfully implemented the Lifecycle Management Suite in Microsoft Azure. The implementation, which included the Collection, Service, and Loan Origination modules, incorporated an upgrade spanning four major releases, as well as the inaugural launch of the Lifecycle Management Suite in the Cloud.
Jeff Johnson, CIO, BCU, commented:
“We have a strategic initiative in place to move all of our technology into the Cloud. Since BCU uses the Lifecycle Management Suite frequently as part of our day-to-day activities, we felt it was necessary to explore hosting our technology on Microsoft Azure. We are already well embedded with Azure, so they were a natural choice. We are looking forward to benefitting from the ability to scale more efficiently, reduce system response time, enhance disaster recovery abilities and run on optimally-sized hardware.”
The project spanned nine months, with significant testing from all parties in order to confirm both the functionality of the technology in previously untested waters, and the security of the system in a new environment. The decision to move the Lifecycle Management Suite to Azure has also allowed BCU to reduce IT overhead. Moving forward, the credit union will be able to focus their time and effort on optimizing and providing the best products and services.
Emily Steele, COO of North America, Temenos, stated:
“We are thrilled to announce the successful completion of this project. The teams at BCU, Temenos and Microsoft invested a lot of time and energy to ensure that all of the security and functional features of the system went live without any unplanned interruption to BCU’s service. The successful completion of this project is not only a testament to the longevity of the technology, but also to our strong relationship with BCU. We look forward to continuing to push the boundaries of possibility with both BCU and Microsoft, and continuing to propel the Lifecycle Management Suite to the forefront of financial technology.”
David Koscheski, Director, US Financial Services Industry for Microsoft Corp., added:
“Microsoft and Temenos work together with financial institutions around the world, and BCU is taking advantage of the scale and efficiencies gained by combining Temenos technology powered by Microsoft Azure. We are thrilled to see the results of our work with Temenos come to fruition and we look forward to collaborating on more projects in the future.”
US-based BCU wanted to decrease costs, while increasing scalability and speed-to market. In 2017, they became the first Temenos customer to take the Lifecycle Management Suite into the Cloud