GENEVA, Switzerland – September 28, 2020 – Temenos (SIX: TEMN), the banking software company, is delighted to announce the winners of the ‘Best in Banking’ Awards for North America. These awards celebrate the people, processes and technology that spark growth in the North American financial services industry. This year, Temenos clients used front office, core banking, and cloud technology to meet the challenges of COVID-19 head on, promote innovation, and continue to strive for growth.
These awards took place during Synergy Online, Temenos’ flagship North America digital event that brought together over 3,000 attendees on September 23. With 40+ interactive sessions on cloud, digital banking, AI and more, presented by 45+ industry speakers, Synergy Online brought the brightest minds in the industry ‘Together for Growth’.
For over a decade, Temenos has given this annual pioneer award to one customer who has demonstrated a continued contribution to the advancement of new technology together with Temenos. Commerce Bank has been more than a client, it has been a close partner in the United States. Commerce and Temenos are working side by side on the bank’s core transformation initiative, and the team has pushed Temenos to continuously innovate and enhance its software.
“On behalf of our entire Commerce Bank team, we are honored to receive the Pioneer Award,” said Dave Roller, Commerce Bank’s Chief Information Officer. “Temenos has been a key partner in helping us recognize and meet our customers’ banking needs. We are glad we can share our knowledge of the U.S. banking environment in collaboration with the talented Temenos team to build platforms to meet and exceed those customer needs.”
Digital Innovation Award
Comerica has partnered with Temenos on its front office progressive renovation project, rolling out new technology one business line at a time. As part of its technology strategic plan, the bank will leverage cloud technology to digitally transform across deposits, lending, wealth management and corporate banking. The initial phase of the project was completed in early 2020, just as COVID-19 closed branches and prevented face-to-face onboarding. Thanks to the fortuitous timing, Comerica was able to seamlessly continue to serve its customers digitally. As part of the project, the bank has embraced agile management practices on the cloud to enable a fast and flexible transformation roadmap, releasing one new product a month. Hear more about the project here.
Core Innovation Award
This year, Varo made history as the first fintech to be granted a national bank charter in the US. Varo Bank is a mobile-only bank with the vision is to provide innovative digital services to over 180 million Americans, which are currently underserved by the traditional system. Varo is testament of what can be achieved using advanced, cloud-native and cloud-agnostic technology as a differentiator. Varo has used API-first Temenos Transact to create business growth, customer growth and most importantly a direct impact on the financial health of society. Hear more about Varo’s journey here.
Technology Changemaker Award
As the first bank to move from the private to the public cloud in Canada, EQ Bank embodies what it means to be a changemaker. The decision has allowed EQ to offer enhanced and safer services to its customers, while increasing agility and reducing costs in order to continue offering high-value and intuitive products. Leveraging cloud technology also positions EQ to leave behind traditional banking approaches and benefit from the next banking innovations. In the words of Andrew Moor, President and CEO, “Innovation is in EQ Bank’s DNA, and our recent move to the cloud means we’re not only ready for the future of banking in Canada, we’re driving it.” Hear more about how EQ successfully transitioned banking services to the cloud here.
Community Relief Award
When the US Small Business Administration rolled out the Paycheck Protection Program (PPP), it gave financial institutions less than a week to respond. Atlantic Union Bank leveraged Temenos Infinity SaaS to build a brand new digital loan portal specifically for the PPP in less than a week, enabling its business clients to receive funding and support in their time of need. In the first two weeks after the lending program was rolled out, Atlantic Union Bank secured $1.4 billion for 6,500 business clients. Hear how Atlantic Union Bank continues to build on this momentum and how it’s impacted the organization here.
Visionary Leadership Award
This award recognizes ORNL Federal Credit Union (ORNL FCU) for its growth mindset and member-centric view of digital transformation. The ORNL FCU leadership team asks the hard questions – are we providing the easiest member experience? Are we present where our members are? How do we take the member experience to the next level? The credit union has been able to achieve growth in a scalable, sustainable, and member-focused way with innovative omni-channel technology. As a community-focused organization, it has prioritized using digital technology to engage with its members in order to deliver value and meet their needs in an increasingly digital world. Hear how ORNL FCU is achieving member-centric growth, leveraging technology, here.
Alexa Guenoun, President, Americas and Global Head of Partners, Temenos, said:
“Throughout this year, we’ve had the privilege of hearing, following and being a part of our customers’ success. Despite the global pandemic, our clients continue to inspire us with their ability to take the industry to new heights, which inspired this year’s event theme: Together for Growth. In the spirit of the event, we wanted to celebrate some of those financial institutions that are not just surviving, but thriving and making a difference for the economy and society as a whole. Congratulations to everyone being recognized for their fantastic achievements, and to all of our clients leveraging technology to make the world a better place.”
Max Chuard, CEO, Temenos, said:
“Financial institutions are facing a crucial moment in history. By coming together as one community we can make banking better. Digital technology is a once in a generation opportunity for growth. At Temenos, we invest massively in our products and innovation, and I’m very proud of how our digital technology has helped clients with their incredible response to the Coronavirus crisis. We have a fantastic, diverse and strong Temenos community in North America, with 1,300 clients ranging from credit unions to national banks, digital banks and fund administrators. When we bring everyone together, we create synergy and produce truly amazing results. I’m delighted to award these customers for their exceptional agility and innovation.”