~BCT to develop further and market Temenos Country Model Banks,
providing enhanced local functionality and service capability for financial
institutions in India, Sri Lanka, Nepal, Bangladesh, Cambodia, Philippines,
Taiwan~
India : Temenos (SIX: TEMN) announced that it has signed a Multi-Country
Model Bank development agreement with Bahwan CyberTek (BCT),
a global digital transformation company. Temenos Country Model Banks offer
financial institutions a faster go-live experience with
Temenos solutions, while simultaneously reducing costs and
risks through pre-configured banking functionality and
country-specific localization.
The agreement will see BCT develop further and market Temenos Country
Model Banks, using the latest cloud-native technology and extensibility
framework, for financial institutions in India, Sri Lanka, Nepal,
Bangladesh, Cambodia, Philippines and Taiwan. Additionally, BCT becomes the
Temenos preferred upgrade partner for banks in these markets.
Country Model Banks are a key differentiator for Temenos and through
such agreements, Temenos can scale this competitive advantage, with partners
further developing and building new model banks compatible with Temenos’
composable banking solutions and SaaS offerings.
With a network of 4,500 product engineering and digital
services practitioners and consultants, BCT will support Temenos clients'
modernization programs. BCT has committed to invest in developing localized
functionality to further enhance the Temenos Model Banks for financial
institutions in the seven countries.
This new agreement extends the close collaboration between the two
companies with BCT signing a strategic
agreement with Temenos in 2022 to market, implement, and
support all Temenos products and solutions in India, Sri Lanka, Nepal, and
Bhutan.
William Moroney, Chief Revenue Officer, Temenos, commented: “We are delighted
to extend our strategic relationship with BCT to provide enhanced local
functionality and service capability to customers in India, Sri Lanka, Nepal,
Bangladesh, Cambodia, Philippines and Taiwan. By leveraging the expertise and
resources of both companies, this collaboration will enable financial
institutions in these markets to deliver innovative and customer-centric
banking experiences with greater agility and speed to market while also
reducing cost and risk.”
S. Durgaprasad, Co-founder, Director & Group CEO, Bahwan CyberTek, said: "We are excited
to collaborate with Temenos in developing and marketing Country Model Banks,
enabling financial institutions in these countries to leverage the latest
banking capabilities and technology from Temenos to achieve operational
excellence and their digital transformation goals. This latest agreement
between our companies signifies a significant step forward in empowering
financial institutions across these target markets in Asia with innovative
banking solutions, ultimately driving growth and enhancing customer experiences.”
About Temenos
Temenos (SIX: TEMN) is the world’s leading platform for composable
banking, serving clients in 150 countries by helping them build new banking
services and state-of-the-art customer experiences. Top performing banks using
Temenos software achieve cost-income ratios almost half the industry average
and returns on equity 2X the industry average. Their IT spend on growth and
innovation is also 2X the industry average.
For more information, please visit www.temenos.com.
About Bahwan CyberTek
Bahwan CyberTek is a global provider of digital transformation
solutions. A trusted partner for over 1000+ customers, including Fortune 500
companies, we drive innovation through our products, service offerings &
strategic partnerships. Established in 1999, Bahwan CyberTek has over 4500+
associates with technical and domain expertise across the Banking &
Financial Services, Oil & Gas, Telecom, Power, Government, Banking, Retail
and SCM / Logistics verticals. BCT has delivered solutions in 50+ countries
across North America, Europe, Middle East, Africa and Asia-Pacific.
For more information, please visit www.bahwancybertek.com
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