Temenos, a leading banking software provider, has launched a new program called Temenos LEAP, designed to help banks transition smoothly to cloud-native technology and leverage the latest banking capabilities. The holistic modernization program combines Temenos’ banking platform with AI-powered tools and processes, along with the expertise of its services teams and select partners.
Through Temenos LEAP, banks using older solutions can modernize their operations by seamlessly and quickly adopting a new cloud-native architecture driven by APIs. This move allows banks to access cutting-edge banking capabilities and launch personalized products more efficiently, enhancing customer engagement. In fact, Temenos’ modern platform has shown to contribute to 24% higher growth and innovation share for its core banking clients.
The LEAP program also introduces new banking capabilities, focusing on product design, launch, servicing, and retirement. It includes the Temenos Payments Hub for facilitating the adoption of new payment channels and a 24/7 straight-through processing (STP) approach. With its cloud-native architecture, Temenos provides enhanced connectivity, extensibility, built-in security, and testing and development capabilities, allowing banks to stay ahead of competitors and expand into new sectors and markets.
Compared to traditional upgrade projects, Temenos LEAP enables banks to modernize within months using AI-powered migration and testing processes and ready-to-use service packages. This approach delivers faster time-to-value, increased product agility, and reduced operational costs by eliminating outdated solutions and optimizing platform efficiency. Additionally, banks can easily maintain their technology through ongoing updates from Temenos, resulting in lower total cost of ownership and higher agility.
Once banks have migrated to the new architecture, they have the flexibility to move to cloud or Software-as-a-Service (SaaS) deployment models as needed. This allows banks to benefit from business agility and faster time-to-value, whether they choose public cloud, private cloud, or a hybrid approach.
Temenos LEAP has already been successfully implemented by clients like Lesha Bank in Qatar, which streamlined its processes and introduced innovative products. Another tier one bank has also committed to modernizing its corporate banking business by adopting the latest Temenos Banking Platform in the private cloud.
According to Bola Rotibi, Chief Analyst at CCS Insight, banking organizations require effective solutions and strategies to modernize legacy systems and keep up with market trends. Programs like Temenos LEAP, with their AI-enabled standardized approach, facilitate the move to a modern cloud-native platform, enabling banks to operate more efficiently and embrace innovation successfully.
Andreas Andreades, CEO of Temenos, highlighted that LEAP empowers banks to future-proof their business by adopting the advanced cloud-native technology of the latest Temenos Banking Platform. With AI-driven automation, banks can optimize operational efficiency, making software deployment faster, easier, and cost-effective.
Temenos, recognized as the global market leader in banking software, offers an open platform for composable banking, serving over 1.2 billion people and helping 3,000 banks worldwide build new banking services and customer experiences. Their top-performing clients achieve exceptional returns on equity and cost-to-income ratios through the Temenos open platform.
In summary, Temenos LEAP provides a comprehensive modernization program for banks, enabling them to seamlessly transition to the latest cloud-native technology and leverage cutting-edge banking capabilities. The program offers faster time-to-value, increased product agility, and reduced operational costs, empowering banks to future-proof their business and stay at the forefront of technological changes.
