GENEVA, Switzerland – MAY 17, 2022 – Temenos (SIX: TEMN) today announced that BforBank, the fully digital bank of the Crédit Agricole Group, has selected Temenos open platform for composable banking to support future expansion. The bank is moving from an on-premise implementation to using Temenos core banking solutions on Google Cloud to tap new growth opportunities and drive efficiencies at scale.
A pioneer in digital banking, BforBank launched in 2009, offering a new approach to savings, life insurance, mutual funds and e-brokerage to the French mass affluent market. The online bank has since expanded to provide a full suite of retail banking services, with accounts, payments and lending products, including mortgages. Providing a simple and highly personalized experience “empowering customers to become their own private banker” has enabled BforBank to differentiate in an increasingly competitive market.
Since its inception, Temenos core banking software has underpinned the bank’s back-office operations. As banking becomes more collaborative, moving to a fully cloud-native, API-first stack on Google Cloud will give the bank hyperscale agility, flexibility, and scalability to launch new services faster at a lower cost.
Pascal Luigi, Deputy CEO, BforBank, commented:
“The banking world is changing fast. After 12 years of successful operations and ahead of new strategic initiatives, we wanted to challenge our initial choices. We initiated a complex process and tested several software vendors with proof of concept on Google Cloud. Temenos was just the obvious choice, having invested relentlessly during the past years to deliver the most open and secure cloud banking platform for composing and deploying banking services at scale.”
Max Chuard, CEO, Temenos, said:
“We have built a trusted partnership with BforBank and its parent Credit Agricole over many years. As BforBank looks to the future, we are delighted to build on this relationship to support its growth ambitions. To lead in the new banking world requires an open, cloud-native approach, enabled by AI, Open APIs, and modern DevOps practices, and this is what Temenos delivers. Being selected as BforBank’s cloud banking platform shows the bank’s confidence in Temenos to drive innovation and create new opportunities.”
Zac Maufe, Head of Financial Services, Google Cloud, added:
“The banking industry is increasingly seeing that cloud technology is not just a driver of efficiency, but an enabler of change. Through our partnership with Temenos, we look forward to powering Bforbank’s digital transformation which will enhance its banking services with highly connected and personalized interactions for customers at scale.”