Temenos Launches Cloud Strategy for the Global Microfinance Community With Windows AzureBy Microsoft Corp., PRNE
Tuesday, July 12, 2011
LOS ANGELES and GENEVA, July 13, 2011 -
Microsoft’s Financial Services Partner of the Year, Temenos brings
modern banking infrastructure to microfinance institutions at a
fraction of the cost.
Today at the Microsoft Worldwide Partner Conference in Los
Angeles, Temenos, the global provider of banking software, launched
a complementary go-to-market model using Microsoft technologies to
address affordable access to finance in emerging markets. Temenos
was also today selected the Microsoft Financial Services Partner of
the Year at the Microsoft Worldwide Partner Conference.
This latest development builds on pioneering work between
Temenos and Microsoft Corp. to offer TEMENOS T24 (T24) on the
Windows Azure platform and is marked by the successful
implementation of this software offering in a network of six
Mexican microfinance institutions (MFIs), which went live in May
2011. This represents the first live instance of core operations
being run on the Azure platform. Temenos also is now offering its
cloud computing-based solution in Africa, to be followed by South
and Southeast Asia, as well as other markets.
“Today, IT virtualization is gaining traction in the
microfinance sector as more MFIs recognize the cost efficiencies of
running their operations in this way,” said Murray Gardiner,
director, Microfinance and Community Banking, Temenos. “The
infrastructure investment around cloud technology being made by
Microsoft and Temenos takes advantage of the strength of Temenos’
global market position and focuses on achieving a common goal: the
transformation of the microfinance sector.”
“We are committed to supporting technology solutions to bring
about social change and improve the lives of the underserved
worldwide,” said Simon Witts, corporate vice president, Enterprise
& Partner Group, Microsoft. “Meeting this challenge in emerging
markets will require turning a latent demand for financial services
into an effective demand for real financial products. With the
Windows Azure cloud infrastructure, Microsoft and Temenos are
engaged in providing these services to microfinance institutions
and, together, we are helping to lead the transformation of
financial services for the 2 billion people living on less than $2
“Today’s announcement marks a major technology milestone in the
financial services industry,” said Bob Hunt, senior research
director, Retail Banking and Cards Practice, TowerGroup. According
to Hunt, “The financial services industry wants to ensure that
cloud computing can provide the security, reliability and
functionality needed for mission-critical processing. Although
TowerGroup expects that the banks and vendors will transition
critical functions to the cloud on a gradual basis, the journey has
T24 on the Windows Azure platform enables financial institutions
to move operations to a low-cost consumption-based pricing model.
Banks no longer need to expend time and budget on provisioning and
operating hardware resources - running T24 natively on Windows
Azure enables them to scale resources effectively and increase
volume according to customer demand.
WPC 2011 to view Guy Dubois, CEO, Temenos discussing the company’s
recognition as Microsoft’s Financial Services Partner of the Year.
Dubois also discusses Temenos’ launch of its cloud strategy for the
global microfinance community with Windows Azure. In an additional
WPC, Susan Hauser, vice president of Worldwide Industry and Global
Accounts at Microsoft, discusses Temenos’ Windows Azure cloud
strategy for the global microfinance community.
Founded in 1993 and listed on the Swiss Stock Exchange (SIX:
TEMN), Temenos Group AG is a global provider of banking software
systems in the Retail, Corporate & Correspondent, Universal,
Private, Islamic and Microfinance & Community banking markets.
Headquartered in Geneva with more than 60 offices worldwide,
Temenos serves over 1,200 customers in more than 120
countries. Temenos’ software products provide advanced technology
and rich functionality, incorporating best practice processes that
leverage Temenos’ experience in over 600 implementations around the
globe. Temenos’ advanced and automated implementation approach,
provided by its strong Client Services organisation, ensures
efficient and low-risk core banking platform migrations. Temenos is
top of the IBS Sales League Table 2009; winner every year since its
launch of the Best Core Banking Product in Banking Technology
magazine’s Readers’ Choice Awards and ranks 26th in the American
Banker top 100 FinTech companies. Temenos customers are proven to
be more profitable than their peers: data from The Banker - top
1000 banks shows that Temenos’ customers enjoy a 54% higher return
on assets, a 62% higher return on capital and a cost/income ratio
that is 7.2 points lower than non-Temenos customers.
Founded in 1975, Microsoft (Nasdaq: MSFT) is the worldwide
leader in software, services and solutions that help people and
businesses realize their full potential.
Max Chuard, Temenos Director, Corporate Finance & IR, Member of the Executive Board, +41(0)22-708-1157, mchuard at temenos.com, or Petra Shuttlewood, Temenos PR Manager, +44(0)207-423-3751, pshuttlewood at temenos.com, or Sarah Bowman, Associate Director, Investor Relations, +1-646-472-8069, Mob: +1-646-752-5463, sbowman at temenos.com; or Claire Barry, Hudson Sandler for Temenos, +44(0)20-7710-8940, cbarry at hudsonsandler.com, or Lucy Clark, Hudson Sandler for Temenos, +44(0)20-7710-8934, lclark at hudsonsandler.com; or Wendy Grover, Microsoft, wegrover at microsoft.com, +1-425-705-7609; or Anne Marie McCallion, Narrate PR for Microsoft, v-anmcca at microsoft.com,+353-86-834-9329; NOTE TO EDITORS: For more information, news and perspectives from Microsoft, please visit the Microsoft News Center at www.microsoft.com/news. Web links, telephone numbers and titles were correct at time of publication, but may have changed. For additional assistance, journalists and analysts may contact Microsoft’s Rapid Response Team or other appropriate contacts listed at www.microsoft.com/news/contactpr.mspx.
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