Across the globe, traditional banks have average cost-income ratios of 55-60%, whereas the new digital-only challenger banks aspire to get below 30%.
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Digital transformation is still a relatively grey area for banking compliance, with no one-size-fits-all approach to how it should be regulated.
The Temenos Value Benchmark (TVB) indicates that maintaining an efficient compliance function contributes positively to a bank's financial performance.
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
Today, a nexus of disruptive technologies is becoming omnipresent in banking. In a survey we commissioned with the Economist Intelligence Unit (EIU) with 305 global banking executives relating to the digitization of banking, 66% said that new technologies will continue to drive global banking in the next five years, over regulation and changing customer behaviour.
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.
As Financial Crime Is Amplified by the Pandemic and Beyond; Do You Know Your Sourdough Loaf From Your Processed White?
Covid-19 has provoked a surge in criminal activity. By pursuing a risk-based approach to prevention and mitigation, banks can tightly focus their efforts and better protect their customers from all financial crime.
Norway’s State Housing Bank Selects Temenos to Rapidly Offer Billions in Loans, Grants and Housing Support to Residents and Municipalities
Husbanken chooses cloud-native, cloud-agnostic Temenos Transact to accelerate loan processing and drive efficiencies to achieve operational cost savings.
Cybercrime is relentless and unlikely to stop. Highly sophisticated hackers using the most advanced technology are adapting to cloud computing and artificial intelligence (AI) to commit extremely rewarding crimes with relatively low chances of being caught.
Temenos helps banks, ranging from global Tier 1s to regionals and neobanks, with its AI-powered fraud management SaaS solution that can operate seamlessly while banks’ workforce is remote.