Banking software provider Temenos has launched a program to help banks modernize.
The Temenos LEAP program is designed to facilitate a seamless transition to the latest Temenos platform and accelerate the journey to the cloud and software-as-a-service (SaaS), the company said in a Wednesday (Jan. 17) press release.
Temenos LEAP combines the banking platform of Temenos with transformation tooling, processes, experienced services teams and a group of specialized partners, according to the release.
This approach provides banks with a fast and low-risk route to a modern cloud-native architecture, unlocking a range of benefits, the release said.
One of the advantages of Temenos LEAP is its ability to enable core banking clients using older solutions to modernize quickly and seamlessly, per the release. By adopting a new, application programming interface (API)-driven, cloud-native architecture, banks gain access to capabilities with which they can launch personalized products and expand into new sectors and markets.
The banking capabilities offered by Temenos LEAP support the creation of innovative products, with a particular focus on product design, launch, servicing and retirement, according to the release.
Additionally, the platform’s Temenos Payments Hub provides the opportunity to add new payment rails and adopt a 24/7/365 straight-through processing approach, the release said.
The cloud-native platform delivers enhanced connectivity, extensibility, elastic scalability, embedded security, and inbuilt testing and development security and operations (DevSecOps) capabilities, per the release.
Compared to traditional upgrade projects, Temenos LEAP enables banks to modernize in just months, thanks to artificial intelligence (AI) and ready-to-use service packages, according to the press release.
Training facilitated by the Temenos Learning Community further supports the transition to the new architecture, the release said.
In addition, Temenos’ ongoing investment in the platform ensures that banks can easily keep their technology up to date, resulting in a lower total cost of ownership and higher agility, per the release.
In another recent move by the company, Temenos said in September that its payments hub became the first dedicated payments solution to become part of IBM’s Cloud for Financial Services. With this collaboration, banks can “combine IBM’s expertise in providing secured, cloud infrastructure with Temenos’ innovative payment solutions,” the company said at the time.
During that same month, Temenos introduced a secure solution that uses generative artificial intelligence to deliver personalized banking services by automatically classifying customers’ banking transactions.