Members of the baking industry worldwide looking to scrap their mainframe and UNIX-based platforms and adopt new core solutions have a new offering available, resulted through a partnership between Microsoft and Temenos Group AG. Leveraging SQL Server and TEMENOS T24, the new solution is designed to drive innovation, boost operational efficiencies as well as accelerate return on investment (ROI) of mission-critical core banking operations, according to Microsoft.
Andreas Andreades, CEO, Temenos explains that the collaboration with the Redmond company is a natural evolutionary step tailored to customer preferences. “We have observed a growing interest from our customers and prospects in deploying the Microsoft platform for their core banking operations,” Andreades explained.
Temenos described the customer demand for the Microsoft platform as significant. Statistics shared by Microsoft indicate that no less than 21 banks have embraced TEMENOS Insight. The software giant described the TEMENOS Insight as a business intelligence (BI) suite which is designed to take advantage of the BI capabilities delivered by SQL Server.
“Ours is a fiercely competitive market, and the combined TEMENOS T24 and Microsoft SQL Server platform helps us attract and retain members by providing expert, proactive financial advice based on clear data,” said Fred Cook, chief information officer, NSCU.
And, in fact, it was through a collaboration with North Shore Credit Union (NSCU), a top financial institution in Canada, that Microsoft and Temenos built their new core banking solution. Banks will be able to leverage the strong data management platform offered by the two companies through marriage of TEMENOS T24 and SQL Server.
“Microsoft has a long-term commitment to supporting mission-critical operations in financial services. Our alliance with Temenos provides our largest financial services customers a cost-effective platform on which they can build future-generation processing capabilities that meet the evolving demands of their business,” added Susan Hauser, vice president, Worldwide Financial Services, Microsoft.
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