The newly forged partnership will see the two companies work shoulder- to-shoulder, including the undertaking of joint marketing and knowledge exchange activities.
Key to this alliance is the application of Strands technology to enhance Temenos’ online and mobile banking platforms: Temenos Connect Internet Banking (TCIB) and Temenos Mobile Internet Banking (TMIB). Strands will provide our award- winning Personal Financial Management (PFM) solution and focus on creating a next-generation user experience. This will boost the integration capacity of Strands technology with T24, Temenos' current core banking system.
"Strands technology will add significant value to Temenos' offerings in many ways," noted Pau Velando, General Manager at Strands. "First, we will bring UX within their online and mobile channels to an entirely new level by adding a modern and intuitive user interface with a gorgeous look and feel. What's more, our solutions will be fully embedded within Temenos’ existing platforms and systems - that means seamless integration not only from an aesthetic standpoint, but technically as well. Finally, we are excited to share our machine learning expertise and exchange knowledge with Temenos, an undisputed market leader from whom we can learn a lot."
Dharmesh Mistry, Product Director for User Experience at Temenos added, "This is an important agreement for Temenos. Our strategy is to develop a platform that allows financial institutions to offer the right product and services, personalized to individual customer preferences, at the right time and place and across the right channels - what we are calling experience-driven banking. PFM is an integral part of that plan and that vision and so we are delighted to working together with Strands to make it a reality."
The announcement follows TCF2015, the sixteenth annual gathering of Temenos customers, partners and other community members. This year's event was held in Istanbul, with Strands CEO Erik Brieva present. “The highlight of the event for us was seeing Strands PFM demoed to a crowd of over 1,000 with a real user case,” said Erik. “What a perfect way to begin this valuable partnership with Temenos.” TCF2016 is set to take place here in Barcelona, where Strands is headquartered. “As its newest Complementary Solution Provider, we look forward to supporting Temenos to make the next event as successful as possible,” Erik added.
Temenos Group AG (SIX: TEMN), headquartered in Geneva, is a market leading software provider, partnering with banks and other financial institutions to transform their businesses and stay ahead of a changing marketplace. Over 2,000 firms across the globe, including 38 of the top 50 banks, rely on Temenos to process the daily transactions of more than 500 million banking customers as well as over USD 5 trillion in assets. Temenos customers are proven to be more profitable than their peers: in the period 2008-2012, they enjoyed on average a 32% higher return on assets, a 42% higher return on equity and an 8.1 percentage point lower cost/income ratio than banks running legacy applications. For more information, please visit www.temenos.com
Strands develops innovative software solutions that enable banks & retailers to offer personalized digital banking and e-commerce experiences. The Strands Finance Suite includes white-label software solutions such as Personal Financial Management (PFM), Business Financial Management (BFM), Card-Linked Offers (CLO), and Recommender (REC). In 2008, Strands revolutionized online banking by deploying the first PFM in Europe. From our Barcelona HQ and offices in San Francisco, Miami, Singapore & Buenos Aires, we serve market leaders like Barclays, Deutsche Bank, BBVA, BNP Paribas, Bank of Montreal (BMO), Carrefour and Panasonic. For more information, visit finance.strands.com