By investing in cloud, new business models like BaaS and AI technologies today, banks can weather the perfect storm in financial services.
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Latest news from Temenos
Temenos Accelerates Banking Innovation for SMEs with the launch of Temenos Virtual COO at TCF Online 2021
Based on input from 300 SME business owners to understand their challenges and needs, Temenos launches Temenos Virtual COO
Temenos Transforms Banking With the Temenos Banking Cloud to Accelerate SaaS and AI Adoption With Instant Access to Sandbox, Banking Services, and Marketplace
The Temenos Banking Cloud brings the unmatched breadth of Temenos front-to-back Banking Services, an innovation Sandbox, and the most complete fintech Marketplace, powered by an Explainable AI-enabled engine all through an easy-to-access, self-service portal
The Temenos Value Benchmark – Maximizing Business Value From Your Investment in Information Technology
We all know that disruptive technologies like Cloud/SaaS, Microservices, APIs and AI are having a profound impact on the way banking services are delivered and consumed today. This is leading to the twin trends of digital and open banking, and hence changing the very structure of the banking value chain. Meanwhile, non-traditional entrants like the technology giants, neo-banks and fintechs, are leveraging these technologies to compete in banking, and that too with a cost base 30-60% lower than incumbent banks.
We must do more to co-ordinate and accelerate smart data says Kam Chana.
The latest Economist Intelligence Unit (EIU) report: ‘Overseeing AI: Governing artificial intelligence in banking’ sponsored by Temenos, takes a deep dive into the complex world of Artificial Intelligence (AI). Like many new technologies before it, AI is still at the stage where it has to prove itself to be useful to bank customers. There is still healthy scepticism in the minds of customers around the use of AI by banks, and it will take time for that to be broken down.
Temenos Transact Data Hub offers unmatched capability to power faster and more contextual experiences for customers and rapid innovation with AI-driven digital banking applications
The report says that the guidance that regulators have offered so far can be described as “light touch”, taking the form of information and recommendations rather than rules or standards. This is a potential minefield for banks which think AI is a type of wonder-solution. The report postulates that this 'light-touch' approach is to avoid drying up innovation. Another reason how AI will evolve. AI is still in its early years and not many vendors really understand its potential or likely direction. As the report points out, there is no single expert who can answer every query about how AI works.
Temenos Transact - Cloud-native, cloud-agnostic, API first and AI-Enabled
New Competitive Threats Pressure Banks in North America to Respond to Changing Customer Demands, Reveals Study by the Economist Intelligence Unit Released by Temenos
North American bankers sense danger more than most from new entrants to their market, according to a global retail banking survey released by Temenos (SIX: TEMN), the banking software company. The Economist Intelligence Unit (EIU) report, A Whole New World: How technology is driving the evolution of intelligent banking in North America, conducted on behalf of Temenos, reveals changing customer behavior and demands as one of the biggest trends that will impact retail banking in North America.