Temenos Reaches Sustainability Milestone with Cloud-Native Banking
Christian Sarafidis, Chief Executive of EMEA Financial Services, Microsoft, says: “We are thrilled 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 the growing demand from banks for cloud and SaaS banking services. Together, with our combined expertise we are leading the transition to a more sustainable banking industry.”
Tony Coleman, Chief Technology and Innovation Officer, Temenos, adds: “The sustainability benchmark on Microsoft Azure shows the unmatched speed and efficiency of Temenos’ cloud-native platform helping banks to decarbonise their operations and grow their businesses sustainably.
“Over the years Temenos has worked hard investing considerable R&D to get the best out of the cloud with a platform and solutions that are fully cloud-native. With a leaner and greener architecture, Temenos is by far the most sustainable way to run core banking in the cloud.”
Banks: The end of proprietary data centres and the age of the cloud
The sustainable benefits of cloud-based core banking platforms are, perhaps, a core reason why 51% of global banking executives (per Economist Impact) agree that banks will no longer own any data centres in the next five years, with data storage moving to the public cloud.
Earlier this year, Mambu echoed this sentiment in a report published in collaboration with Google Cloud, revealing that switching to the cloud represents a multi-trillion-dollar opportunity for banks.
Kalliopi Chioti, Chief Marketing and ESG Officer at Temenos, concludes: “Compliance with climate regulation and meeting environmental targets have joined the list of reasons why banks are accelerating the shift to the cloud.
“Temenos is committed to helping our clients reach their own ESG targets, particularly through our cloud-native platform, enabling our clients to significantly reduce their carbon emissions.
“Further, with our Carbon Emissions Calculator, a free tool embedded within Temenos SaaS, we empower banks to track their direct and indirect cloud emissions from banking activities, helping measure progress towards sustainability goals and comply with growing climate regulations.”
