GENEVA, Switzerland – SEPTEMBER 7, 2022 – Temenos (SIX: TEMN) and Bahwan CyberTek (BCT), a global digital transformation company, today announced the signing of an exclusive strategic agreement to scale Temenos’ operations in India, Sri Lanka, Nepal and Bhutan. As part of the agreement, BCT will market, implement, and support all Temenos products and solutions in these countries. The agreement is exclusive for seven years and signals Temenos’ commitment to long-term growth in the region.
As an exclusive Sales and Delivery partner, BCT will enable Temenos to expand its market coverage and deepen local expertise through BCT’s network of 4,000 product engineering and digital services practitioners and consultants. Financial institutions in these geographies will benefit from Temenos’ world-class banking platform and BCT’s global professional services and regional expertise.
This agreement provides Temenos with enhanced visibility on profitability and cash flow and will help Temenos accelerate business growth and sharpen customer focus in these four countries.
With BCT’s strong regional knowledge, deep financial services industry expertise and comprehensive services capabilities, banks in India, Sri Lanka, Nepal, and Bhutan will be able to move away from the constraints of their legacy systems and migrate to Temenos’ modern, open platform for composable banking. They will benefit from accelerated modernization timelines, increased efficiency and scale in operations and greatly enhanced customer experiences.
S.Durgaprasad (DP), Co-founder, Director & Group CEO, BCT, said:
“We are pleased to forge this partnership with Temenos as it increases our visibility and reach in the banking industry. Financial institutions are facing intense pressures from customer demands, regulations and fierce competition from new players entering the industry. Our strong financial services offerings, deep regional expertise and services capability combined with the power of Temenos’ leading banking platform, places us in a strong position to drive digital transformation for banks and financial institutions.”
Erich Gerber, President and Chief Revenue Officer, Temenos, said:
“We are excited to announce this exclusive agreement with BCT, which opens up our addressable market and accelerates our growth through new business opportunities in these geographies. Banks will benefit from our significant R&D investment and innovation roadmap while BCT will bring world-class professional services and a wide range of complementary technology to drive faster innovation, broader reach into these markets, and faster adoption of our open platform for composable banking. By joining forces with BCT, we will deliver more value to our clients empowering them to build new business models, new banking services and offer superior customer experiences.”
BCT is a global organization that develops, markets, implements and supports solutions in the areas of predictive analytics, digital supply chain management, risk management and digital experience analytics enabling rapid transformation, better customer engagement and state-of-the-art risk management.
Temenos is the world’s leading open platform for composable banking serving more than 3,000 financial institutions in over 150 countries, helping them grow, scale, and build new banking services for state-of-the-art customer experiences.