Temenos Banking Cloud Scales Record High Transaction Volumes and achieves world-class efficiency

Temenos(SIX TEMN) today released its benchmark high-water performance results for Temenos Banking Cloud Amazon Web Services (AWS). The benchmark of 100 million customers and 200 million deposit accounts with 100,000 transactions per second and up to 61 transactions per second per core on AWS underscores Temenos’ leaner and greener architecture. This benchmark breaks all scale records, allowing banks to scale efficiently and reduce carbon emissions.

Temenos Banking Cloud has more than doubled its performance in comparison to the 2019 benchmark, proving the scalable performance of Temenos open platform with the capacity to process the entire world’s banking transaction volumes on a single cloud environment. 

This increase in TPS per core also indicates that the Temenos platform on cloud is up to 41% more efficient than ever before. This allows banks and other financial institutions to lower their carbon footprints. TPS per core is now 61, which matches performance and scale of mainframe-based system but uses public cloud at a fraction on the cost. Temenos can also lower the mainframe cost to commodity hardware, offering its bank clients the best of both worlds. 

According to the most recent Capgemini 2021 World Payments Report non-cash transactions are projected to grow at 18.6% CAGR in 2020-2025, driven by next-generation payment options like BNPL and invisible or biometric propositions. Banks and embedded finance providers will require IT architectures that are scalable at a fraction the cost in order to thrive in this new era, with volumes predicted to exceed 1.8 trillion by 2025.

At its flagship event, Temenos will present its open platform for composable and scalable banking. Temenos Community Forum (TCF 2022)London, May 17-19.

Temenos cloud architecture automatically scales. It allows banks to process more transactions at 10x the cost of traditional on-premise deployments. Temenos Banking Cloud, which runs on AWS can help banks reduce their carbon footprint. A variety of research across different regions has shown that moving workloads from on-premise to AWS can reduce the workload’s carbon footprint by almost 80%, and as high as 96% if AWS is powered by 100% renewable energy by 2025.

John Kain, Head, Financial Services Market Development at Amazon Web Services said: “Banks are increasingly realizing the benefits of cloud to remain agile and meet the demands of a constantly evolving industry. Leveraging AWS’s reliable, flexible, and scalable global infrastructure, Temenos can get the best performance and most value out of its banking cloud services, enabling thousands of the world’s leading financial services organizations to transact at a faster rate than previously possible.”

Bola Rotibi is the Research Director at CCS Insight. “Global non-cash transaction volumes are skyrocketing in response to fast-emerging trends like Banking-as-a-service (BaaS) and Buy Now Pay Later (BNPL). Automated flexibility allows for the flexible control needed to support these growing demands. The benchmark demonstrates that Temenos Banking Cloud can elastically scale up and down based on business demand, providing composable capabilities on-demand at a low cost supported by automatic scaling while reducing the overall environmental impact.”

Tony Coleman, Chief Technology Officer, Temenos, said: “The benchmark results on AWS prove the scalability, efficiency resilience and best in class latency of our open platform for composable banking, which can successfully support emerging banking business models such as Banking-as-a-Service as well as traditional banks with even hundreds of millions of accounts. We not only can scale to the large global banks’ volume demands, but also offer a cleaner and more sustainable infrastructure, which helps them reach their environmental goals. Together with AWS, our cloud-native composable architecture can support the highest volumes of transactions and operational requirements of any bank in the world.”

This benchmark shows that Temenos Banking Cloud runs on AWS using database technology from MongoDB, Yugabyte, and enables banks to harness cloud power and reap the benefits of speed, scalability and innovation. The benchmark evaluated Temenos composable banking capabilities, including demand deposit accounts and loans. Temenos Banking Services include BNPL, Challenger Bank, Retail lending, Payment Fraud Mitigation KYC Customer Risk Assessment Digital Mortgages and Demand deposit accounts

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