GENEVA, Switzerland – April 7, 2022 – Temenos (SIX: TEMN), the cloud banking platform, today announced that Battle Financial, Inc. has selected Temenos Banking Cloud to underpin the global markets technology stack for Battle Bank. With Temenos core banking and payments solutions, Battle Bank will be able to offer its clients a diverse set of opportunities in F.D.I.C. insured foreign currency and market index deposits and the ability to acquire, store, and borrow against non-F.D.I.C. insured precious metals.
Battle Bank is expected to launch in the second half of this year, pending regulatory approval. The bank is led by two pioneers in the banking industry, Frank Trotter and Vincent Amato. Both were part of the former group of founders of everBank.com.
“We’ve created Battle Bank to fill a widening gap in the traditional banking landscape — to offer high-yield interest accounts coupled with access to the world markets. To make that vision a reality, we need technology that is fast, open, and scalable as we continue to grow our offerings. This partnership with Temenos will provide exactly that, making our clients’ experience as seamless and efficient as possible,” said Frank Trotter, President and Board Member of Battle Financial, Inc.
Temenos’ platform for composable banking will serve as the foundation for Battle Bank’s foreign currency, market-index, and precious metals products. Using Temenos’ model bank methodology and the pre-composed banking services, Battle Bank will be able to quickly roll out its world markets division offering innovative solutions with hyper-efficient cost structures.
“We are building Battle Bank to offer exceptional banking values and unique investing offerings,” said Vincent Amato, Chief Operations Officer of Battle Financial, Inc. “With Temenos, we know that it’s possible to launch fast and scale quickly. The unprecedented breadth, depth and scale of the platform’s modular banking capabilities creates opportunities for our customers to prosper through a diversification of financial holdings with us.”
Max Chuard, Chief Executive Officer, Temenos, said:
“At Temenos, we have a vision to power a world of banking that opens opportunities for people to achieve their ambitions. We are delighted that Battle Financial will use the Temenos Banking Cloud to launch fast and deliver on its mission to help its clients take control of their financial future and build their wealth. Temenos Banking Cloud is the platform of choice for challenger banks worldwide, and this signing with Battle Financial continues our strong growth and customer success in the US market. Temenos’ cloud platform will pave the way for innovation, empowering the bank to deliver new products that challenge how we think of investing and offer seamless experiences to customers.”
Temenos recently announced it has exceeded the 70-neobank customer milestone – more than any other provider – and is now launching a range of new, functionality-rich banking services to cater for this fast-growing segment.