SUNNYVALE, Calif.–(BUSINESS WIRE)–May 19, 2022–
Yugabyte, the leader in open source distributed SQL databases, announced a technology partnership with global banking software market leader Temenos.
Temenos, whose systems serve 1.2 billion people, or one-third of the world’s banked population, chose YugabyteDB as the strategic database to power the core banking capabilities of the Temenos open platform for composable banking.
The open Temenos platform enables banks of all sizes to compose, extend and deploy pre-built banking services and the widest range of banking capabilities at scale.
Under this new partnership, YugabyteDB will be available to banking customers who choose to run the open Temenos platform on their own infrastructure, whether on their own public cloud instances, on-premises or in their private clouds or hybrids.
Temenos has been deploying its popular core banking capabilities to customers on the cloud since 2011. Using cloud-native architecture and tools, Temenos has enabled its impressive roster of 41 of the world’s top 50 banks to adopt flexible solutions and scalable that align costs with changing business volumes and ensure high resilience to failure as standard.
The adoption of Yugabyte technology takes this capability to the next level by providing comparable flexibility and availability in the data layer.
Tony Coleman, Chief Technology Officer of Temenos, said, “Yugabyte brings exceptional technology performance, scalability and resiliency to this partnership. Along with its unparalleled global database expertise and service capabilities, YugabyteDB was a natural fit with our vision for the future of our cloud-based technology proposition.
Tenemos’ decision to choose Yugabyte included:
- Yugabyte’s cloud-native data layer, which offers unlimited horizontal scaling with bank-grade resiliency and security.
- Yugabyte’s fully managed service, which gives Temenos peace of mind.
- Yugabyte’s proven open source commitment and independence from cloud providers.
- The full compatibility of YugabyteDB code with the open source database query language PostgreSQL, considered an excellent basis for the full interoperability of Temenos software.
Yugabyte CEO Bill Cook added, “Temenos has long recognized the critical value of cloud native to its demanding market. Indeed, as a true market leader and core banking platform innovator, it knows that only a truly agile and modular deployment backed by cloud vendor independence will help it meet the needs of thousands of users. of its banks, at all levels and market niches. ”
He continued, “A horizontally scalable native cloud database was the required element to support Temenos’ ambitious plans, so we are honored to help integrate Yugabyte into its highly sophisticated architecture and thus enable future mutual success.
Temenos’ decision to award this partnership to Yugabyte was made after an intensive evaluation process, and highlighted how YugabyteDB meets the demanding performance criteria of one of the world’s most data-intensive industries. . The first phase of the partnership will see Temenos and Yugabyte engineers work together to simplify and evolve Temenos offerings and make them more cost effective.
Both teams look forward to achieving rigorous standards of high performance and low latency for cloud and on-premise financial services customer deployments, as well as avoiding CSP deadlocks or dependencies for any Temenos service or customer. .
The photograph of the brand or the spokesperson is available on request.
Temenos AG (SIX: TEMN) is the world leader in banking software. More than 3,000 banks worldwide, including 41 of the top 50 banks, trust Temenos to handle both day-to-day transactions and customer interactions for more than 1.2 billion banking customers. Temenos offers cloud-native, cloud-independent and AI-powered front office, core banking, payment and fund administration software, enabling banks to deliver seamless omnichannel customer experiences and reach operational excellence. Temenos software has been proven to enable its top performing customers to achieve cost-to-income ratios of 26.8%, half the industry average, and returns on equity of 29%, three times the industry average. These customers also invest 51% of their IT budget in growth and innovation versus maintenance, twice the industry average, proving that banks’ IT investment adds tangible value to their business. For more information, visit:Temenos.
Yugabyte is the company behind YugabyteDB, the high-performance open source distributed SQL database for building global transactional applications. YugabyteDB serves business-critical applications with SQL query flexibility, high performance, and cloud-native agility, allowing businesses to focus on business growth rather than complex infrastructure management of data. Companies in cybersecurity, financial markets, IoT, retail, e-commerce and other verticals trust it. Founded in 2016 by former Facebook and Oracle engineers, Yugabyte is backed by Lightspeed Venture Partners, Dell Technologies Capital, Sapphire Ventures and others. For more information, visit:Yugabyte.
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PUBLISHED: 05/19/2022 04:00 AM/DISC: 05/19/2022 04:02 AM