Temenos Inclusive Banking

Offering digital is now essential for community banks in supporting inclusive banking. Temenos Inclusive Banking solutions provides community banks with their own digital services, keeping customer spend within their own community-banking network, will be the banks that grow and serve their communities.

Transcription

According to World Bank two billion of the world’s population are without access to basic financial services.

Community banking, including credit unions, savings banks, microfinance and other non-bank financial institutions, is the key to sustainable financial inclusion.

Community banking operates on principles of saving and thrift for provident and productive lending, essential for providing a path out of poverty.

But local community banking is under threat.

Customers are being offered an array of financial products straight from their smartphones.

Quick, east credit at rates of 600% or more.

Fuelling impulsive consumption, with the unintended result of transferring wealth from the poorest to the top 1% outside the country.

To remain relevant and competitive, community banks must digitise by providing modern digital services at reasonable rates.

Some are opting for the quick fix, partnering with one of the Fintechs.

But what happens to the community bank when that apps starts selling other financial producers direct to their customers?

They are giving up their customer base to a competitor for a ting commission.

Is there an alternative?

Yes, there is.

At Temenos we understand the need to strengthen and support community based banking.

We’re the world’s leading banking software vendor, providing the technology and infrastructure used by the world’s leading banks and Fintechs.

The biggest challenge of digitising has always been the cost of software, computer services and the expertise to run new systems.

But that isn’t the case now.

By taking a shared services approach in the cloud, sharing common software, computer infrastructure and service centres, our subscription-based software as a service can quickly implement the features community bank customers want, without the one-off investments in software, hardware of in-house technical expertise.

It isn’t expensive to run, on payments alone the first few transactions pay the entire cost of the services, future-proofing the network.

It’s a proven model, 240 Temenos inclusive banking clients have over 20 million members in 46 countries.

Over the past 18 years, Temenos client banks have dispersed upwards of 1 billion loans as the financial technology sector’s biggest investor in R&D, we’ll continue to innovate and support community banking for many years to come.

To provide the services that are key to financial inclusion creating wealth and growing local economies.

The world’s most vulnerable communities need access to affordable, trusted financial services before it’s too late.

In Kenya, more than 2.7 million people have been blacklisted and excluded for small unpaid Fintech loans, 400,000 over loans of less than $2.

The community banks that have their own digital services, keeping customers spend within their own community banking network will be the banks that grow and serve their communities.

Providing modern and profitable digital services for generations to come.

It’s time to act, tomorrow may be too late.

Temenos Inclusive Banking

Offering digital is now essential for community banks in supporting inclusive banking. Temenos Inclusive Banking solutions provides community banks with their own digital services, keeping customer spend within their own community-banking network, will be the banks that grow and serve their communities.

Temenos Inclusive Banking

Offering digital is now essential for community banks in supporting inclusive banking. Temenos Inclusive Banking solutions provides community banks with their own digital services, keeping customer spend within their own community-banking network, will be the banks that grow and serve their communities.

Guests had the opportunity to hear from Kam Chana, Head of Digital Strategy, Temenos UK. Kam shared global insights into digital banking trends and innovative digital strategies, enabling banks to deliver compelling and relevant banking experiences to customers.

Keynote speaker Simon Lyons, CEO of Goldfields Money, shared his story about the ambition and drive of Goldfields to modernise for the future. With a customer focused approach, the opportunity to transform the business presents a new era in open banking and more growth!

Transcription

Tom Bentley – Temenos Head of Sales for Australia and New Zealand:

‘My name is Tom Bentley and I’m the head of sale for Temenos Australia.

What we really wanted to do is actually celebrate customer success and some of the things we’ve been doing with the base year.

We’re very pleased to have Simon Lyons here today speaking on behalf of Goldfields Money.

So, really looking forward to his presentation.’

Simon Lyons – Goldfields Money CEO:

‘We are soon to launch at the end of this month.

We’re going to launch an open banking platform which is a little bit different from what anybody’s done in Australia before.

To Kam’s point, we want to be digital first and digital front to back and that’s what we’re building.

So we had to change course and it is the heart of the banking operation and everybody told me ‘you’re a frigging idiot’ for trying to do it.

But we’re about a month away from doing it, we’ve done it with Temenos in probably record time and we’re about to deliver something that no one’s seen in Australia before.

Again I’ve said this, there’s no way we could have done what we’ve done in the last 12 months if we hadn’t have actually made that decision to write off our old system and stump up with Temenos.

It’s been a great journey for us.’

Kam Chana – Temenos Digital Strategist:

‘What are banks trying to do, what are the troubles they’re seeing, what are their hopes and aspirations, what are their challenges and fears?

Banks are taken by surprise at the fact that consumers are now standing up and saying: we want to bank differently.

For an organisation is it being digital from the front to the back, they’re not just investing in technology, how are they actually approaching digital?

Are they investing in consumer experience, are they investing in technology, are they fundamentally changing their culture?

How are they dealing with all the trends?

Inertia can’t play a role in the way that you approach customers anymore.’

Temenos Inclusive Banking

Offering digital is now essential for community banks in supporting inclusive banking. Temenos Inclusive Banking solutions provides community banks with their own digital services, keeping customer spend within their own community-banking network, will be the banks that grow and serve their communities.

Transcription

TLC engine is a fully documented end-to-end processed training tool that covers all of your business processes, including long terminal software and manual steps all in one place.

Understanding the role each person plays in every process generates responsibility, ownership and a higher level of engagement.

In TLC engine each process steps shows which colleagues and job roles are involved. It creates a truly engaged team approach regardless of location or position.

As your teams learn and understand new business processes, TLC engine connects all associated regulatory documents attachments and simulation videos.

We’ll help you to customize and configure your TLC engine. Allowing you to quickly amend existing or create new business processes in line with the changing service demands your teams may face.

Documented end-to-end processes, manual and system steps, customized, client specific processes. TLC engine.

Temenos Inclusive Banking

Offering digital is now essential for community banks in supporting inclusive banking. Temenos Inclusive Banking solutions provides community banks with their own digital services, keeping customer spend within their own community-banking network, will be the banks that grow and serve their communities.

Transcription

IT change programs have clear challenges. Keeping colleagues focused and positive about the transition they are going through.

TLC Engine is a stand-alone training and business process creation tool. As your teams learn and understand new business processes, TLC Engine connects all associated regulatory documents, attachments and simulation videos.

This accessible, digital learning platform drives colleague engagement and positive user adoption, and once your colleagues are live with their new Temenos system, TLC Engine becomes a complete training repository.

An up-to-date solution for future on boarding. Employee engagement, Lower attrition levels, Training repository. TLC Engine.

Temenos Inclusive Banking

Offering digital is now essential for community banks in supporting inclusive banking. Temenos Inclusive Banking solutions provides community banks with their own digital services, keeping customer spend within their own community-banking network, will be the banks that grow and serve their communities.

Transcription

Change programs fail to achieve their goals. Where there’s employee resistance and lack of management support. Use TLC Engine to engage everyone, across your whole organization in the change process.

Help your teams and brace and understand the transition they’re going through. The more engaged your team the lower the attrition rate. A stronger acceptance of changes helps to generate a positive return on your investment.

TLC Engine is a single, comprehensive training solution able to cover complete end-to-end processes, including manual steps and other systems or software. Greater return on investment, Change Management.

A single solution. TLC Engine.

Temenos Inclusive Banking

Offering digital is now essential for community banks in supporting inclusive banking. Temenos Inclusive Banking solutions provides community banks with their own digital services, keeping customer spend within their own community-banking network, will be the banks that grow and serve their communities.

Transcription

TLC Engine documents your complete end-to-end business processes, including all system and manual steps.

As your teams learn and understand new business processes, TLC engine connects all associated regulatory documents, attachments and simulation videos.

You can amend documentation across different processes instantly, handy in a challenging marketplace with changing regulation.

Every process has an owner and every user has to acknowledge a change.

Creating a complete audit trail. Risk Management, Regulatory Compliance, Documented AuditTrail. TLC engine.

Temenos Inclusive Banking

Offering digital is now essential for community banks in supporting inclusive banking. Temenos Inclusive Banking solutions provides community banks with their own digital services, keeping customer spend within their own community-banking network, will be the banks that grow and serve their communities.

Transcription

As you recruit for your IT transformation project, TLC Engine becomes an invaluable digital learning tool.

TLC Engine comes preloaded with standard operating procedures for the modulus you have licensed.

Those responsible for the delivery of your transformation project can rapidly get up to speed, regardless of their previous experience with our Temenos projects and modules, critical for the opening stages of your implementation.

And all our standard Temenos project training collateral is available in TLC Engine to support the digital learning process. To check your teams are on the right track you can use TLC Engine to test their understanding with a certification tool.

With these valuable tools the team can understand the system functionality before they get involved in build or customisation discussions.

And beyond the opening stages of the project, TLC Engine becomes a comprehensive training repository, excellent for managing attrition levels and an up-to-date solution for future on-boarding.

Rapid up-skill, documented competence, on-boarding solution.

Temenos Inclusive Banking

Offering digital is now essential for community banks in supporting inclusive banking. Temenos Inclusive Banking solutions provides community banks with their own digital services, keeping customer spend within their own community-banking network, will be the banks that grow and serve their communities.

Transcription

Get TLC Engine and you get everything. Get your whole team up to speed on the standard operating procedures for your chosen Temenos products, and get access to our standard Temenos product training collateral, to support the digital learning process.

To make sure your teams are on the right track, use TLC Engine to test their understanding with a certification tool.

See, Learn and understand complete end-to-end processes, including manual steps and other systems or software. All in one location with TLC Engine.

Functional product knowledge, Certification tools. A single solution. TLC engine.

Temenos Inclusive Banking

Offering digital is now essential for community banks in supporting inclusive banking. Temenos Inclusive Banking solutions provides community banks with their own digital services, keeping customer spend within their own community-banking network, will be the banks that grow and serve their communities.

Extract from ‘Digital Banking: the opportunity for wealth managers’. As featured in Business reporter and The Telegraph Online.

Transcription

Let’s look at those customer expectations you talked about. How do they differ across the industry, because obviously you have high net worth individuals on one hand, you’ve got retail investors and of course you mentioned the younger generation as well.

Yes, so it’s clearly the needs are different. The top-end client has much more complex needs. The emphasis being very much on the personal relationship and the quality and the breadth of service.

But that said, there is common ground and I think that people across the board today are familiar with today’s digital mega trends, the immediacy of service, the personalization, the convenience of anywhere anytime access that is the new standard in today’s world.

Top end clients are no different. So I think that wealth managers they need to be aware of this.

They need to look at new ways of segmenting their customers beyond simply assets under management, and to have the right offers in place to deal with the different degrees of digital readiness of their customers.

One example is a success that we find with some robo-advisor solutions now coming to the market and offering investment management services to the masses for the first time.

Coming along with digital solutions that really respond to some of these new customer expectations.

The future of banking starts here

Discover how our platform helps financial institutions navigate change, embrace new opportunities, and deliver smarter, faster banking. Together, we embrace the future of finance – Leading Banking Forward.

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