Banking Technology May 2017 issue out now
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
A note from our editor, Tanya Andreasyan:
The time for talking and speculating on what might happen is over – now is time for action. Time for real-world fintech, not a hypothetical one.
This was a key message in the Temenos Community Forum (TCF) 2017 opening speech delivered by Temenos’ CEO David Arnott.
TCF, which gathered in Lisbon over 1,200 industry professionals from banks, software and services companies, fintech start-ups, investment firms, consultancies and the media, was the vendor’s largest ever in terms of numbers.
Needless to say, as Temenos’ bread and butter is core banking software, its leadership team was keen to emphasise the importance and urgency of having a contemporary back office system.
But not in isolation. “A successful banking model for the digital age is front-to-back office collaboration,” Arnott stated.
Temenos’ flagship “collaborative” initiative – MarketPlace – got a boost with new services (open banking and PSD2) and leadership. Outspoken Duena Blomstrom joined Temenos as chief growth officer (i.e. head of sales) of MarketPlace.
Big flagship customers such as Nordea and Bank of Ireland were showcased. Arnott stated the Nordea project – the largest core banking software renovation project in post-financial crisis Europe – is firmly on-track.
The Bank of Ireland tech renovation, focused on corporate banking to begin with, will have “partial go-lives” this year.
Smaller but perhaps more imaginative T24 projects also got the love at TCF, e.g. Pepper Bank in Israel (a mobile-only bank for millennials launched by Bank Leumi) and EQ Bank in Canada (a new digital banking arm of Equitable Bank).
According to Temenos’ statistics, 178 customers went live with its software in 2016.
$145 million was spent on R&D last year and the vendor now has a $5 billion market cap. It is undoubtedly the force to be reckoned with in the core banking space.
The vendor was also keen to emphasise its commitment to auxiliary solutions to complement its core, such as business intelligence (BI) and channels delivery.
If a bank has a modern core, strong BI/analytics tools and a smart digital front-end, no fintech is a threat, stated Todd Winship, Temenos’ product director, BI.
And to finish on a lighter note, here is a joke from Canada-based Winship that made the audience laugh: Why don’t Canadians wear short-sleeved shirts? Because they don’t have rights to “bare” arms!
The May 2017 edition of Banking Technology features:
Correspondent banking faces its future.
Report: fintech life outside London
UK southwest and Wales – our tour continues.
Knowledge economy in financial services
From curator to conductor.
Interview: Luis Uguina, Macquarie
The bank’s “chief troublemaking officer”.
Fintech and role of government
Not more regulation but more collaboration.
Wake up and smell the coffee!
Food for thought
Lessons learnt from digitalisation.
And not to forget the Regulars of course:
Appointments – the movers and the shakers.
Industry events – mark your calendars!
Out of office – curiosities, frustrations and mishaps of the fintech world.
Click here to read the digital edition of Banking Technology May 2017