Temenos’ Post

Hello, Dear Network! The latest edition of the FSI Digital Transformation Weekly newsletter is now available, featuring the following two topics: 1. What is behind the paradox of FSIs spending large sums on software, services, and consulting vendors while complaining about their quality and ROI? A recent news cycle about Hindenburg Research & Temenos illustrates the underlying rationale of FSI executives: a) being jaded about alternatives, b) spending budget or else, c) buying from a well-known brand; d) pursuing long-term relationships, and e) having more fun than tinkering only in-house. 2. 40+% of FSIs engage in some form of non-PR innovation while consumers' preferences for what they want from financial services haven't changed much in the last quarter-century. The leading fintechs are mostly following the standard bundling playbook, just without physical outlets, while even at the most advanced FSIs innovation group is typically manifested in spinning of solutions in search of a problem. Then why spend $$$ on innovation?

Banks who transform their operating models through core modernization can realize operational efficiencies and drive additional revenue opportunities via new product introduction. But for banks, the journey to modernize and simplify core banking can be challenging and fraught with complexities. Enter EY Nexus Intelligent Core. With modular architecture and cloud-native microservices, this next-gen technology allows banks to innovate quickly and repeatably without disrupting their businesses — or the customer experience. Don’t let the complexity of core modernization hold you back. Learn how you can simplify your bank’s transformation journey, below: https://lnkd.in/e9wevimc #corebanking #bankingtechnology #modernbanking #bankinginnovation #cloudbanking #coremodernization #EYNexus

Banks — Don’t let the complexity of core modernization hold you back! Reach out to learn how you can simplify your bank’s transformation journey. #ey #banking #regionalbanks #communitybanks #transformation

State of the Art Business Models demand flexible, scalable, efficiency and growth driven technology…

"How Migration from Legacy Systems to Temenos Transact is to be handled for Core Banking and Micro-Finance is given below" 1. Strategy Preparation for Migration Assess Current State: Evaluate existing legacy systems to identify limitations and pain points. Define Objectives: Set clear goals for what the bank aims to achieve with the migration (e.g., enhanced customer experience, operational efficiency). Stakeholder Engagement: Involve key stakeholders early in the process to ensure buy-in and gather insights. Change Management Plan: Develop a strategy to manage organizational change, addressing staff training and cultural shifts. 2. Migration Mapping Process Identification: Map out current banking processes and identify those that need to be re-engineered. Gap Analysis: Compare legacy capabilities with Temenos Transact functionalities to identify gaps and opportunities for improvement. Roadmap Development: Create a detailed migration roadmap that outlines phases, timelines, and responsibilities. 3. Data Conversion as per Temenos Transact Data Quality Assessment: Evaluate existing data for accuracy, completeness, and consistency. Data Mapping: Align legacy data structures with Temenos Transact’s requirements to ensure seamless integration. Data Cleansing: Remove duplicate, obsolete, or incorrect data to enhance quality before migration. 4. Mock Migration Runs Testing Environment Setup: Establish a parallel environment for testing the migration process. Conduct Mock Runs: Execute multiple mock migration runs to identify potential issues and refine the migration process. Performance Evaluation: Analyze performance metrics to ensure that the system meets operational standards before go-live. 5. Go-Live Migration Final Preparations: Confirm that all systems, processes, and teams are ready for the live migration. Cutover Strategy: Implement a detailed cutover plan to switch from legacy to Temenos Transact with minimal disruption. Monitoring and Support: Ensure real-time monitoring and dedicated support teams are in place to address any issues that arise during go-live. 6. Reconciliation Post-Migration Validation: Conduct thorough checks to ensure that all data has been migrated correctly and completely. Performance Monitoring: Track system performance and user feedback to identify any adjustments needed. Continuous Improvement: Establish processes for ongoing evaluation and optimization of the new system to maximize benefits. At https://pssoftglobal.com we help Banks and Micro-Finance institutions to handle the core banking transformation from any legacy to Temenos Transact. #FinTech #DigitalBanking #BankingTransformation #CoreBanking #Temenos #LegacyMigration #FinTechInnovation #DataTransformation #CustomerExperience #FinancialServices #BankingTech #CloudBanking #TechForBanks #FutureOfBanking #FinTechTrends

Whether you're catching up on updates, moving to the latest Temenos release, or transitioning to the cloud—it’s time for a new approach! Our Vantage Accelerator is your all-in-one solution for testing, migration, and reconciliation, designed to simplify and accelerate Temenos upgrades for faster go-lives! With AI-powered, scalable, and upgradeable technology, Vantage delivers projects up to 20x faster than traditional or open-source tools. Perfect for everything from single upgrades to multi-country rollouts. ☑ Exploratory Business Testing, Like-for-like automated testing, financial reconciliation, performance testing, environments management and comparison. ☑ Migrations: FT to TPH , LDs etc to AA ☑ End-to-end testing of all Temenos releases (Transact, Infinity, Wealth/Triple A, TPH, etc ) and local customizations (all L1, L2, and L3), both cloud and on premise. ☑ A unique risk-based first approach for maximum coverage: Testing more with less! All bundled into a unified platform with pre-built, composable accelerators. We are here to help you: ✔ Rid the world of bugs, ✔ Reduce the cost of data migration, data and financial reconciliation, and automated testing by up to 50% ✔ and Become 40x more productive with increased quality at speed. Ready to upgrade with confidence? We’ve got you covered! Download our ebook to learn more > https://lnkd.in/dDgU2YgQ #CloudMigration #DigitalTransformation #AI #TestAutomation #Banking #TemenosUpgrade #DataMigration #RiskManagement #Fintech #FinancialReconciliation

Axway in Exclusive Talks to Acquire Majority of Sopra Banking Software Operations. Axway has recently announced exclusive conversations for the #acquisition of the majority of Sopra Banking Software's (SBS) activities. The acquisition presents a unique opportunity for Axway to expand its #product portfolio and capitalize on recent performance. This move aligns perfectly with Axway's strategic #roadmap, aiming to create a strong enterprise powerhouse by lowering #payment friction and offering #personalized services for customers to meet their growing demands in #banking operations. Axway is an enterprise data #integration leader in the industry that improves heritage #IT infrastructures to unlock new business opportunities and provides a range of #digitaltransformation solutions to modernize operations and improve #customerexperience. Sopra Banking Software (SBS) is a global technology company that provides solutions to banks and financial service industries to re-imagine and accelerate their digital transformation processes. SBS stands to benefit from the global scale and experience of Axway, which has successfully transitioned to a subscription-based business model which provides customers with continuous access to #data, updates and improvements. This #strategic acquisition will enable Axway to extend its geographical footprint to Europe, the Middle East, and African regions along with opening its gateway to more #revenuestreams. It will also help SBS to efficiently streamline its banking #operations with better integration and API Management by leveraging Axway’s technological capabilities thereby reducing the faster time-to-market and enhancing the overall customer journey experience. The move reflects a forward-looking approach, combining technological prowess, financial acumen, and a commitment to shared values. As the FinTech industry evolves, this strategic move positions Axway as a key player, ready to navigate the challenges and opportunities ahead. #acquisition #apimanagement #bankingindustry #fintech #quadrantknowledgesolutions

Composable, easy to configure, lean and extensible #corebanking architecture is at the center stage, driving #digitaltransformation of banks. Ensuring risk mitigated and predictable core modernization programs is key for banks to accelerate their transformation journeys. At Temenos Americas Fall Forum, Sanjay Bhanot from Cognizant, shares how composable, easy-to-configure core banking architectures efficiently drive #digitaltransformation and enhance customer experience. Keep up with live updates here: https://lnkd.in/gSWxZVWE

What are some of the benefits of operating on a modern #corebanking platform? Aside from the increased flexibility of innovative #technology, there are also business benefits. Experts from Temenos and Cognizant sat down recently to discuss the advantages of new IT, from greater agility to the benefits of #OpEx vs. CapEx, and from innovating with partners to accelerating times to market. Learn more here: https://lnkd.in/exXt-e7s

What are some of the benefits of operating on a modern #corebanking platform? Aside from the increased flexibility of innovative #technology, there are also business benefits. Experts from Temenos and Cognizant sat down recently to discuss the advantages of new IT, from greater agility to the benefits of #OpEx vs. CapEx, and from innovating with partners to accelerating times to market. Learn more here: https://lnkd.in/gYrrcfNJ