GENEVA, Switzerland – June 11, 2021 – Temenos (SIX: TEMN), the banking software company, announces the winners of the 2021 Temenos Changemaker Awards for customers, presented at the annual flagship event, the Temenos Community Forum (TCF). The event brought together 50 industry speakers and 10,000 business leaders and technologists from around the world to reinvent and shape the future of banking. These awards, announced every year during TCF, recognize Temenos clients like Changemaker of the Year PayPal, for their contribution to their communities, innovation, and commitment to make banking better, together with Temenos.
Max Chuard, Chief Executive Officer, Temenos, said:
“Temenos serves over 3,000 financial institutions around the world – financial institutions who share our passion for making banking better for the 1.2 billion people that rely on our software for their daily banking needs. Our customers are changemakers – leaders, disruptors, pioneers, and risk-takers who believe in changing the landscape of banking by leveraging the power of technology. I am delighted to recognize PayPal, CWB, Varo Bank, Itaú, Bank Albilad and Virgin Money Australia, for their work with Temenos to make banking better, together.”
Changemaker Award for Banking Experience
SMEs make up 95% of businesses in many countries, and yet they are consistently underserved by banks around the world. CWB has pioneered with Temenos to break the boundaries of SME banking with Temenos Virtual COO. Combining Temenos’ innovation and CWB’s in-depth understanding of the needs of business owners, the two have collaborated to bring the first Explainable AI-driven solution for SMEs to market, putting business owners in control of their financial destiny. For collaborating with Temenos to unlock the value for both SMEs and the financial institutions that serve them, and cementing its position as the trusted advisor for business owners in Canada, Temenos recognizes CWB with the Changemaker Award for banking experience.
Changemaker Award for Innovation
In 2020, Varo became the first consumer fintech in the US to be granted a national bank charter. Leveraging Temenos SaaS, the neobank provides innovative digital banking services aimed at 180 million Americans who are underserved by the traditional financial system. For challenging the status quo, for leveraging digital technology to lower its cost to serve to 25% of a traditional bank running legacy technology and passing that efficiency dividend through to its customers, and for making banking better for millions, Varo receives the Changemaker Award for Innovation.
Changemaker Award for Cloud Pioneer
Itaú Unibanco is a global tier 1 bank leveraging Temenos to power its banking operations on a single wealth management platform. In 2020, the bank announced that it will deploy Temenos front-to-back technology on the cloud to deliver state-of-the-art omnichannel mobile and digital banking applications to international private banking clients. The move allows Itaú to reduce time to market, generate efficiency and make its business better prepared for the exponential evolution of technological cycles. For leveraging The Temenos Banking Cloud to launch a new, truly universal digital wealth platform, Itaú receives the Changemaker Award for Cloud Pioneer.
Changemaker Award for Customer Engagement
This award goes to Bank Albilad for achieving spectacular growth and becoming a leading bank in Saudi Arabia. Driven by their relentless focus on customer engagement, and the rapid launch of new products using Temenos Transact, the bank doubled its capital. Innovation is key to the success of Bank Albilad, leveraging channels, networks and expertise to deliver sustainable growth. Bank Albilad continues to focus on developing streamlined services, value-added offerings, personalized customer journeys and expert advice to make banking better.
Every year Temenos recognizes one person for their contribution to their banking industry and the Temenos community. This year the Visionary Leadership Award goes to Chris Sozou at Virgin Money Australia for his work on the market launch of the challenger bank.
Visionary Leadership Award
Virgin Money Australia was designed with a clear ambition to simplify banking and help customers achieve their financial goals. Chris Sozou GM Platforms, Partnerships & Analytics is an inspirational leader, and has partnered with Temenos in his work across implementation and go-live to ensure a smooth market launch. Chris brings a wealth of financial services experience that has been instrumental in the successful implementation of Virgin Money Australia’s digital bank. For his role as a true leader, Temenos recognizes Chris Sozou with the Visionary Leadership Award.