Temenos and InCountry partner to offer data residency for Temenos Banking Cloud
The financial services industry has struggled with digital transformation due to increasing data residency and cross-border data transfer restrictions. It isn’t practical or possible to operate a complete SaaS stack in every country where the existing and emerging data protections include the need to locate customers’ Personally Identifiable Information (PII) or Personal Financial Information (PFI) in the country. For regional and global financial institutions, it can be a regulatory impossibility to host all of their customers’ PII and PFI in a single SaaS region, leading to fragmentation of core banking systems.
Temenos and InCountry have partnered so Temenos Banking Cloud can offer a compliant solution to bringing a modern SaaS stack that solves for data residency and cross-border data transfer challenges. InCountry provides a complete data residency solution so that Temenos Cloud Banking hosted in one country can fully isolate PII and PFI within another country.
InCountry’s data residency solution offers deep edge services for large files, processing, analytics, threaded email, and more. InCountry operates in countries worldwide with two points-of-presence in each country with active-active failover. In addition, InCountry offers fully sovereign operations in China with Alibaba Cloud and UAE with Core G42, and will soon be launching a Sovereign Cloud in Saudi Arabia with Saudi Cloud Computing Corporation. InCountry also offers on-premises deployments as well as single tenant deployments in government preferred clouds for accelerated regulatory approval.
InCountry offers detailed support for regulatory approval in complex jurisdictions including the Saudi Arabia Monetary Authority and the Cyberspace Administration of China. InCountry implements bank-grade secure software development life cycle and 24/7 technical operations with active threat monitoring. Access to individual records and fields is fully controlled by Temenos Banking Cloud’s authentication and fine-grained authorization. A key feature of InCountry is the Data Firewall which offers Data Loss Prevention using IP addresses, VPN detection, and detects PII leakage with country-specific AI models.
The exciting combination of Temenos Banking Cloud and InCountry Data Residency-as-a-Service enables SaaS core banking in countries without hyperscalers or Temenos regions available, as well as core banking across several countries. Banks can digitally transform while keeping PII and PFI fully isolated in each country.
To learn more about InCountry and request a demo, Click here.