EXECUTIVE INSIGHT
Q . WHAT ARE THE BENEFITS OF COMPOSABLE SAAS BANKING ?
» Composable banking services allow institutions to access the specific capabilities they need , precisely when they need them . With Temenos SaaS , these services include both pre-configured and pre-assembled banking capabilities , as well as optional integrated third-party solutions from the Temenos Exchange . By leveraging this approach , banks can bring new products to market faster , meeting the evergrowing expectations of their customers . Temenos recently launched end-toend SaaS services for retail , corporate and business banking offering pre-configured products , processes and APIs that a bank can use to turn on the new features with ease and accelerate their modernisation . This is an amazing accelerator for any bank , whether a start-up or established bank looking to launch products quickly .
Q . HOW CAN CLOUD AND SAAS HELP CUT CORE BANKING SOFTWARE COSTS ?
» With SaaS , banks can focus on innovation and their customer , not managing their tech , while also keeping operational costs in check . They don ’ t need to worry about server provisioning , data centre maintenance or hardware upgrades . Temenos manages the infrastructure , reducing operational overhead . SaaS solutions can be deployed quickly , allowing banks to launch new services faster . This agility translates to cost savings by accelerating time-to-market . Temenos ensures that SaaS clients always have access to the latest software versions . This eliminates the need for manual upgrades and reduces the risk of running outdated systems .
“ Banks are accelerat the shift to the clou in order to meet environmental targ
Q . IN WHAT WAYS IS CLOUD BANKING ENVIRONMENTALLY FRIENDLY ?
» Compliance with climate regulations and meeting environmental targets have joined the growing list of reasons why banks are accelerating the shift to the cloud . It is estimated that cloud banking platforms offer users a 95 % lower carbon footprint compared to on-premise alternatives and Temenos is by far the most sustainable way to run core banking in the cloud .
Over the years we ’ ve worked hard investing considerable R & D to get the best out of the cloud with a platform and solutions that are fully cloud-native . We ’ ve also reduced the carbon impact of our software by over 50 % from a 2021 baseline . Improving the performance with more efficient code and leaner architecture means less demand for infrastructure , less processing power needed and so less energy consumed and lower carbon emissions .
Combined with the sustainability of hyper-scaler partners , this brings added environmental benefits for banks choosing to deploy our solutions on public cloud or as SaaS .
20 September 2024