For quite some time 70% of banks cannot cover their estimated cost of capital
Temenos, the banking software company, has introduced the Temenos Banking Cloud.
That allows banks to have the power to self-provision always-on banking services and scale instantly and securely while reducing the cost of operations to 10% of legacy systems.
According to the press release, the Temenos Banking Cloud is suitable for both digital-first banks that want to launch in weeks as well as large or complex banks that want to acquire distinct capabilities, launch products fast, and migrate customer bases that are serviced by legacy systems.
The Temenos Banking Cloud is powered by an Explainable AI engine allowing banks to test, report and measure product performance, and gain insight to support business decisions and product design.
Through the self-service portal, IT users and developers can spin up fully provisioned environments, benefit from real-time dashboards on usage and billing, configure permissions and manage security credentials.
We’ve reported that Canadian credit union goes live with Temenos.