GENEVA, Switzerland – November 21, 2019 – Temenos (SIX: TEMN), the banking software company, today announced its high water benchmark performance results for cloud-native, cloud-agnostic Temenos T24 Transact, the next generation core banking product and Temenos Infinity, the breakthrough digital front office product in a benchmark exercise with Amazon Web Services (AWS). In the benchmark test of its microservices architecture, Temenos processed 50K transactions per second (TPS), and demonstrated its ability to elastically scale up and down based on business demand, ensuring banks only pay for the resources they use and benefit from up to 10x lower infrastructure costs.
The benchmark validates that Temenos T24 Transact running on AWS Cloud, using NuoDB database technology, the in-memory distributed SQL database, enables banks to benefit from unlimited processing capacity and lower total cost of ownership (TCO) enabled by AWS. The benchmark demonstrates 100x faster response times to client requests with its microservices architecture. Temenos continually invests in R&D to leverage new technologies that deliver lower TCO and tangible business benefits to banks. The company has a strategic partnership and a minority stake in NuoDB.
Key benchmark highlights:
- Highly scalable performance: Temenos’ digital banking platform exceeded 50K TPS, enabling banks to build scalable, highly secure applications that take advantage of the agility and cost benefits of the cloud.
- Lower TCO: Auto-scaling allows banks to only pay for the active workload rather than always paying for the maximum potential workload through dynamic deployment of containers.
- Modern architecture: Achieved with Temenos’ cloud-native Temenos T24 Transact, Temenos Infinity, Data Event Streaming and microservices architecture.
- Cloud-native: Temenos architecture leverages cloud-native technologies such as AWS Lambda functions, Amazon DynamoDB and Amazon Kinesis data streams.
The banking industry is witnessing an unprecedented growth in online transactions, led by new digital channels, open banking and new technologies. Digital banking is driving global transaction volumes away from cash and increases the look-to-book ratio. According to CapGemini non-cash transactions grew globally by 12% during 2016-2017 and reached 539 billion, the highest in the past two decades. Based on these calculations, Temenos’ benchmark proves its ability to handle over half the world’s banking transaction volumes on a single instance of the software. Furthermore, consolidation in the banking industry results in the creation of mega banks with even higher demands in transaction processing.
Max Chuard, CEO, Temenos, commented:
“This benchmark highlights Temenos’ relentless innovation and investment in cloud technology. Cloud is becoming a game-changer, enabling banks to accelerate their digital transformation and optimize performance and cost. Temenos has always given the banking community greater choice of next-generation cloud technologies working with NuoDB and all major cloud providers. We have achieved Advanced Technology Partner status in the AWS Partner Network and have collaborated to meet the needs of banks of all sizes, including top tier banks. The benchmark results with AWS demonstrate that our modern, cloud-native, cloud-agnostic architecture, coupled with a distributed database, elastically scales allowing banks to benefit from operational efficiencies and significantly lower infrastructure costs. We can support the highest volumes of transactions and operational requirements of any bank in the world now and in the future.”
Bob Walmsley, President and CEO, NuoDB:
“Temenos’ commitment to innovation and research is fundamental to the advances we’ve made in this latest benchmark. Our joint development enables Temenos customers to achieve lower TCO for the solution using our distributed SQL database to dynamically scale in and out to align with the variable workloads inherent to banking application requirements.”
Temenos has been pioneering in the cloud since 2011 and the results of this benchmark are yet another first. Temenos was the first software provider to put a core banking system in the public cloud and the first to launch a payment hub, fully embedded into a core banking platform, in the cloud. Temenos has deployed more banks in the cloud than any other vendor.
Temenos Press Contacts
Jessica Wolfe & Grace Collins
Temenos Global Public Relations
Alistair Kellie & Andrew Adie
Newgate Communications for Temenos