Banking software provider Temenos is joining the Google Cloud, following accelerated adoption of cloud technology by the banking sector.
The global strategic partnership marks the first time a global banking software provider has run on Google Cloud’s ‘Anthos’, an app development platform.
Temenos and Google Cloud will jointly go to market, the firms said in a statement, with Temenos offering its full end-to-end software portfolio via the platform. Banks will be able to run Temenos’ applications in Google Cloud, taking advantage of the scalability and global infrastructure it offers.
The deal comes after the two companies began collaborating in 2019. They have already secured banking customers in Europe and Asia. Temenos itself has over 3,000 financial institution clients worldwide.
The announcement was made at last week’s Fintech Forum 2020 in Paris by Temenos CEO Max Chuard.
Chuard told delegates: “We see an explosive growth in cloud adoption in the banking industry. We are delighted to extend our leadership in the cloud and strengthen our strategic partnership with Google Cloud, a leader in innovation in cloud computing.
“As a strategic global banking software partner of Google Cloud, we will bring to market innovative solutions that combine our API-first, cloud-native, microservices-based banking software with Google Cloud’s scale and leading cloud capabilities. Our customers will benefit from the winning combination of Temenos’ functionally rich and technologically advanced digital banking platform on Google Cloud.”
The partnership comes off the back of Temenos launching a banking distribution service as part of its Temenos Infinity Product in 2019. This included onboarding services, a marketing catalogue, payment initiation and a funds authorization service.
Anthos – launched in April 2019 – is Google Cloud’s hybrid and multi-cloud application platform that allows organizations to migrate their existing applications, build new ones and run them anywhere, whether it’s in the cloud, on-premises or on multiple clouds.
Specifically, Anthos uses technology called ‘kubernetes’, which allows container orchestration to be managed and organizations to build cloud-based environments. It also means teams can easily move existing workloads and create new ones during app development, especially in service-oriented work. Capital One is an example of a bank already using kubernetes technology.
Google Cloud CEO Thomas Kurian said: “Temenos delivers market-leading banking software applications to thousands of the world’s leading financial services organizations, and we’re excited to expand our strategic alliance with them.
“Extending Temenos’ core capabilities to Google Cloud helps banks digitally transform their business and deliver entirely new customer experiences and offerings.”