GENEVA, Switzerland – January 29, 2024 – Temenos (SIX: TEMN) today announced that Nagarro, a global digital engineering leader, has signed an agreement to license and further develop Temenos Country Model Banks for financial institutions in Romania and Poland. The agreement opens new opportunities for growth for Temenos with enhanced local functionality and service capability provided by Nagarro in these markets.
Country Model Banks are a key differentiator for Temenos and through such licensing agreements, Temenos is able to scale this competitive advantage with partners further developing and also building new model banks compatible with the banking solutions on Temenos’ composable platform and SaaS offerings on Temenos Banking Cloud.
As part of this new agreement, Nagarro is committed to invest in and develop regulatory and business-specific localized functionality to enhance the Temenos Model Banks for financial institutions in Romania and Poland.
Nagarro, which has over 19,000 experts in 36 countries, has been operating in Romania since 1998 and in Poland since 2014 across 7 delivery centers. The Country Model Bank agreement enables Temenos customers in these markets to benefit from Nagarro’s already well-established presence and regional expertise.
With over 25 years of experience in the industry, Nagarro supports the end-to-end banking, financial services and insurance (BFSI) spectrum, including core banking, payments, lending and leasing, mobility and cognitive services, and financial services (investment banking, asset and wealth management).
This agreement builds on the strong existing relationship between the two companies, which has seen Nagarro complete more than 43 successful projects involving Temenos Transact implementation and transformation, along with 20 Temenos upgrades, and engage in 350 projects across diverse Temenos solutions. Nagarro was also awarded the ‘APAC Temenos Delivery Partner of the Year’ award in 2023.
Ross Mallace, EVP and Global Head of SaaS & Partner Ecosystem, Temenos, said:
“We are excited to announce this agreement with Nagarro, which opens new opportunities for Temenos with financial institutions in Romania and Poland. Nagarro will become a trusted partner for the development and maintenance of Country Model Banks for these two countries and help customers in their progressive technology renovation. Such agreements bring additional value to our platform, which benefits our clients and ultimately delivers incremental growth for Temenos.”
Vishwanath Rajashekarappa, a co-founder, Nagarro, commented:
“We are delighted to be granted this license by Temenos to develop Country Model Banks to drive growth and customer success. This agreement is a testament to our capabilities as a long-standing partner of Temenos and our knowledge of local market practices and regulations. We look forward to helping clients in Romania and Poland scale and optimize their businesses on the Temenos banking platform.”