Banking software company Temenos has reached an agreement with Huawei to offer its cloud-native solutions on the Huawei Public Cloud.
The agreement, which was announced at Huawei’s intelligent finance summit in Shanghai, brings together the cloud hosting, implementation, and integration capabilities of Huawei with Temenos’ banking software. It covers Asia-Pacific (APAC) with a specific focus on China, and also includes Africa, Europe, Latin America and the Middle East. The scope of the partnership includes sales and marketing, implementation and training.
Financial institutions will be able to modernize their core banking systems on Huawei Cloud and benefit from elastic scalability, cost and operational efficiencies. Temenos and Huawei aim to help banks of all sizes to go to market faster, open up new business models, and achieve more attractive cost/income ratios.
The announcement follows growing demand for cloud-based models has accelerated during the coronavirus pandemic, as banks have required more resilient and agile technology propositions. Cloud software has become the established deployment method for digital-first banks that need to launch quickly with minimum IT infrastructure cost. Larger banks are also increasingly shifting to the cloud to revamp systems, reduce IT complexity and cost, and gain greater speed to market.
Philip Barnett, president of strategic growth at Temenos, said: “We are delighted to extend our leadership in the cloud and be the first to certify with Huawei. This joint go-to-market strategy with Huawei will massively accelerate our market penetration in China which represents approximately a $6 billion addressable market, and we are extending to the Middle East, Africa, Europe and Latin America. Together, we can help digital-first banks as well as large banks in need of core modernization accelerate their move to the cloud.”
Mr. Ma Yue, executive vice-president, Huawei Enterprise Business Group (EBG) added: "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.”