New US clients for Temenos’ Akcelerant subsidiary
Banking technology vendor Temenos says 16 financial institutions in the US have signed for its account and loan origination, collection and recovery software in the last six months.
The suite of products originates from a local specialist vendor, Akcelerant, which Temenos acquired in early 2015; and 600+ credit union clients with it. Jay Mossman, formerly CEO of Akcelerant, is now CEO and president of Temenos North America.
Among the new takers is Alaska-based Credit Union 1, a $1 billion entity, which is implementing the Akcelerant’s Lifecycle Management Suite.
“For the first time”, Credit Union 1 has been able to customise the experience it offers to its 86,000 members across all digital channels as well as in a branch, Temenos says.
Terri Colson, senior project manager, Credit Union 1, comments: “By consolidating platforms we have been able to break down the silos between our departments, foster collaboration across divisions, and streamline our processes.”
She adds that Temenos “was able to demonstrate several major areas where the Lifecycle Management Suite could increase our efficiency, and we really connected with their philosophy”.
At the back office, Akcelerant’s solution will interface to Credit Union 1’s core processing system, Fiserv’s DNA.
Elsewhere, Pennsylvania State Employees Credit Union (PSECU) has recently gone live with Lifecycle Management Suite’s account origination module.
Temenos has stated its bold claims to conquer the US market at its recent annual conference, Temenos Community Forum (TCF). “Over the mid-term, Temenos’ total licensing revenue can be doubled through the US,” stated David Arnott, the vendor’s CEO.
Commerce Bank is believed to be heading Temenos’ way for core banking software renovation.
Also, the vendor has gone public on a go-live of its T24 platform at a tier 1 US bank. Banking Technology understands this is Ally Financial.