Huawei and Temenos Announce Technology Partnership Agreement
Huawei and Temenos, the banking software company, announced a partnership to offer Temenos’ cloud-native core banking solution on the Huawei Public Cloud. Temenos is the first core banking software certified with Huawei infrastructure and Huawei Public Cloud. The partnership covers Asia-Pacific (APAC) with a specific focus on China, and it also includes Africa, Europe, Latin America and the Middle East.
Financial institutions will be able to modernize their core banking systems on Huawei Cloud and benefit from elastic scalability, cost and operational efficiencies. Together, Temenos and Huawei will help banks of all sizes to go to market faster, open up new business models, and achieve industry-leading cost/income ratios.
The growing demand for cloud-based models has accelerated during the coronavirus pandemic, as banks require more resilient and agile technology propositions. Cloud has become the established software deployment method for digital-first banks that need to launch fast with minimum IT infrastructure cost. Larger banks increasingly shift to the cloud to incrementally modernize their systems, reduce IT complexity and cost, and gain greater speed to market.
Philip Barnett, President of Strategic Growth, and Member of Executive Committee of Temenos, said: “Together, we can help digital-first banks as well as large banks in need of core modernization accelerate their move to the cloud. Our API-first, cloud-native core banking solution based on Huawei Cloud will provide flexibility, agility, elasticity, and accelerate time to market for banks.”
“Huawei is willing to continue to strengthen cooperation with industry-leading technology solution competent partners such as Temenos. The digital ecosystem is a place where all participants create and share value together. By strengthening partnerships, we can solve problems and create value for customers together, expand the cake, and open up new growth space for the finance industry,” said Mr. Ma Yue, Executive Vice President, Huawei Enterprise Business Group (EBG); President, Huawei EBG Global Partner Development and Sales.
(This content is surmised from a press release)