TEMENOS
Jean-Paul Mergeai of the banking software company , Temenos explains how its open cloud banking platform is levelling the playing field and creating room for the disruptor upstarts as well as the incumbent banks to digitally transform and innovate .
Jean-Paul Mergeai and his team at the banking software business , Temenos are on a mission to re-invent the industry for the digital age . He says change is not only inevitable - it is vital .
According to JP - as he ’ s known at Temenos and across the industry - banking is reaching a crunch point . “ I think the banking industry - all the banks - have this once in a generation opportunity to digitally transform ,’ he says … and they squander it at their peril .”
JP ’ s official title is President of International Sales at Temenos with a brief to look after growth across most of the planet including Europe , the Middle East , Africa , and the Asia Pacific region .
He says the more well-established banks are in no place to be complacent . Why ? Because they are riddled with legacy systems , chunks of aged software all ‘ glued ’ together and in danger of coming apart at the seams .
He likens - as do many at Temenos - the old ways of banking and the challenges they bring with them to a busy but somewhat disorganised and steamy restaurant kitchen . ‘ Banks ’ legacy systems are like layers of spaghetti on top of lasagne . This complexity is actually holding them back , they cannot continue like that . Imagine that most of these banking systems were built in the sixties and are very expensive to maintain .
204 November 2021