Fintech
Temenos reaches sustainability milestone with cloud-native banking
Christian Sarafidis, managing director of EMEA Financial Services, Microsoft, says: “We are excited to see our collaboration with Temenos continue to set new standards for core banking in the cloud.
“Temenos and Microsoft have a strategic relationship to meet banks’ growing demand for cloud and SaaS banking services. Together, thanks to our combined expertise, we are leading the transition towards a more sustainable banking sector.”
Tony Coleman, Chief Technology and Innovation Officer at Temenos, adds: “The sustainability benchmark on Microsoft Azure shows the unmatched speed and efficiency of Temenos’ cloud-native platform that helps banks decarbonize their operations and grow their assets. their activities in a sustainable way.
“Over the years, Temenos has worked hard investing considerable resources in research and development to get the best out of the cloud with a completely cloud-native platform and solutions. With a leaner and greener architecture, Temenos is by far the most sustainable way to manage core banking in the cloud.”
Banks: the end of proprietary data centers and the era of the cloud
The sustainable benefits of cloud-based core banking platforms are, perhaps, one of the main reasons why 51% of global banking executives (according to Economist Impact) agree that banks will no longer own any data centers in the next five years , as data storage moves to the public cloud.
Earlier this year, Mambu echoed this sentiment in a report published in collaboration with Google Cloud, revealing that the move to the cloud represents a a multi-billion dollar opportunity for banks.
Kalliopi Chioti, Chief Marketing and ESG Officer at Temenos, concludes: “Complying with climate regulations and achieving environmental goals have been added to the list of reasons why banks are accelerating the move to the cloud.
“Temenos is committed to helping our clients achieve their ESG goals, particularly through our cloud-native platform, enabling our clients to significantly reduce their carbon emissions.
“Additionally, with our carbon emission calculator, a free tool integrated into Temenos SaaS, we enable banks to monitor direct and indirect cloud emissions from banking activities, helping to measure progress towards sustainability goals and meet growing climate regulations”.