Haventree Bank’s Post

This move not only reflects BNF Bank's commitment to innovation but also its readiness for future industry shifts. #DigitalBanking #Innovation #StrategicAlliance #CustomerExperience #FutureReady #BNFBank #AspireSystems #Temenos

#US-based Varo Bank has extended its #partnership with Temenos to meet business needs and regulatory requirements. Find out more by reading The Paypers: https://bit.ly/48fYSiY #thepaypers #bankingnews #fintechnews #mobilebanking #onlinebanking #regulatorycompliance #businessrequirements

Haventree Bank have chosen Temenos to to support its digital transformation and business growth 🇨🇦 🏦 📈 Serving the alternative mortgage market for the underserved across Canada through a broker network, Haventree will leverage core banking as SaaS to unlock GREATER scalability, enhanced security and MUCH MORE! 🏡 💡 This means that Haventree can focus its resources on clients and partners, and on transformation and innovation while ensuring an adaptable, MODERN IT environment 👨💻 Philip Barnett, President – Americas, Temenos, said: “By selecting Temenos, Haventree Bank has chosen a strategic technology partner that offers scalability, operational efficiency, and the ability to grow alongside their business. With a commitment to the Canadian market, Temenos is dedicated to supporting Haventree Bank in its vision for the future of banking – built on trust and innovation. We offer a proven, scalable SaaS model with localization and we continue to invest, making our offering the most compelling in the market. Temenos has a proven platform, with extensive delivery and migration experience in the Canadian market, with clients ranging from established to digital banks.” Read more on the link below! 👇 Fern Glowinsky #canada #temenos #fintech #corebanking #haventreebank #digitaltransformation #digitalbank #fintechnews #financialinclusion #banking #digitalbanking #fintechnews

As the banking landscape evolves, ANZ takes a strategic pivot by withdrawing cash services in select Sydney branches. Customers' concerns and industry trends ignite discourse. https://lnkd.in/gShCqgN3 #fsonews #ANZ #bankingtrends

As the banking landscape evolves, ANZ takes a strategic pivot by withdrawing cash services in select Sydney branches. Customers' concerns and industry trends ignite discourse. https://lnkd.in/gJw6b5YS #fsonews #ANZ #bankingtrends

🚀🌟 Exploring Core Banking Transformation - Part 2 🌟🚀 Exploring Challenges in Core Banking Transformations Core Banking Transformation is undoubtedly a crucial step for banks navigating the digital age. However, this journey is not without its challenges, particularly when dealing with outdated legacy systems. Let's delve into some of the common hurdles encountered during this process: 1. Outdated Technology: Legacy core banking systems often suffer from outdated technology, leading to inefficient processes and manual overheads in day-to-day operations. This can result in delays in payments, settlements, and processing of various transactions, such as loans or foreign exchange trades. 2. Data Inconsistencies: The presence of disparate data sources in legacy systems often leads to inconsistencies, especially concerning international trades and foreign exchange transactions. These discrepancies can result in settlement issues, further exacerbating operational inefficiencies. 3. Inability to Scale: Legacy systems struggle to keep up with the evolving market demands and the expanding consumer base. This inability to scale can lead to downtime during trading hours, posing significant financial and reputational risks for banks. 4. Customer Retention Concerns: In today's disruptive landscape, customer retention is paramount for banks. However, legacy systems often fail to meet the expectations of modern consumers, driving them towards banks offering next-generation core banking platforms. To address these challenges, banks are increasingly turning towards next-gen Core Banking Platforms such as Fusion Midas, Avaloq, Temenos, TCS BaNCS, and our current market disruptor WAGDSi powered by #RewireFintech. These platforms offer advanced capabilities tailored to meet the digital banking needs of today's customers, enabling banks to stay competitive in a rapidly evolving industry. In conclusion for this second insert, while Core Banking Transformation presents immense opportunities for banks to enhance their operations and customer experiences, it also comes with its fair share of challenges. By addressing these challenges head-on and leveraging innovative solutions, banks can navigate the transformation journey with confidence and emerge stronger in the digital era. Stay tuned for more insights into the realm of Core Banking Transformation.... #FintechEvolution #BankingInnovation #WAGDSi Follow 👉 Gregory Weir & Repost 🔂 with your network 😊 Push 🔔 for notification

Deployed as Temenos SaaS, Commerce can dynamically expand capacity to accommodate future needs on a platform that handles multiple payment types

Fintech CEOs, if you think you’re better than the core banking providers at any particular aspect of the core banking suite, ask yourself if you are 10X better. The real reason why core banking is so resilient is that they’re incredibly good at selling “best in suite” bundles. That means a series of products that work together to deliver a service. When core banking providers sell solutions to banks, they figure out a banks budget before their proposal, then build a package that throws in all this stuff into an annual service offering. Once a product, for example Bill Pay, is included in a bank’s purchased bundle, it’s incredibly hard to unbundle. It was built that way to give the CFO of any bank a very hard approval decision on adding any new service to the suite. Where I see a lot of Fintech CEOs go wrong is that it’s easy to claim your point solution is better than any one product in the bundle. But is it exponentially better to the point that it’s worth the pain for the bank to say yes?

Excellent piece by Dharmesh Mistry . I think you missed #Amdocs Product and Pricing Catalog but you are spot on: "The product core approach involves using a third-party solution to manage the product lifecycle from product definition to onboarding. Executing the product requires some integration with the core, so the original core essentially manages the “ledger” and the third-party solution manages the product behaviours (e.g. managing charges, rewards, or other features). This kind of approach has massive advantages for the bank and can greatly reduce pressure to replace a legacy core system. Banks can not only have a single product catalogue for all their products sitting above multiple core systems, but they can also then use the same platform to define and onboard customers using one system rather than different ones based on their old core. This not only improves time to market and reduces costs, but also enables the bank to innovate on their products, which they have typically struggled to do previously due to various constraints." Leda Glyptis PhD Yuval Mazori Ziv Gafni Diana Tofan Shay Dan Amalia Avramov Oded Shoshany Dror Kaplan Ian Zeifman

Commerce Bank Adopts Temenos Loan Origination Solution to 'Keep Ahead of the Competition': ... banking platform, which is tailored for the needs of US banks – from large regional incumbents, and global disruptors to challenger banks.