Geneva-based banking software provider Temenos announced an extended partnership with Google Cloud on the sidelines of the Paris Fintech Forum 2020. The partnership will enable financial services companies run mission-critical software on the cloud.
“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,” said Max Chuard, CEO, Temenos.
Temenos will integrate its full suite of banking software and applications into Google Cloud. The partnership will enable banks to release faster software solutions, launch new business models and achieve tangible business benefits, said the statement.
For Temenos, the move is seen as bringing in the last of three giants in the cloud game onboard. The banking solutions company has already partnered with Amazon Web services and Microsoft Azure, for its Transact portfolio of solutions. It had signed a deal with Google Cloud last year.
With the extended partnership, Temenos will also become the first banking software provider to run on Google Cloud’s Anthos. Anthos is Google’s hybrid and multi-cloud application platform that helps modernize, secure and build applications.
The software provider has close to 3,000 financial services institutions running on its cloud-native and API backed platforms.
“Temenos has been in the forefront of software innovation, consistently investing 20% of its revenues in R&D and is pioneering in cloud banking for the last 10 years,” Thomas Kurian, CEO, Google Cloud said.
Financial institutions have been reluctant to adopt cloud solutions, given regulatory policies and risk of data breaches. Technology giant IBM recently designed the first-ever financial services-ready public cloud. It also partnered with Bank of America as an early adopter of the platform.