Banking PlatformTemenos Wins Major Awards at FinTech Innovation Awards

Temenos projects with Varo Bank, EQ Bank and Flowe recognized for excellence in implementations and innovative use of cloud-native, open API technology in banking
BusinessWire BusinessWireDecember 23, 20205 min

Temenos (SIX: TEMN), the banking software company, today announced that it won three awards at the IBS Intelligence Global FinTech Innovation Awards, 2020. The prestigious awards recognize technology players and banks for their excellence in driving impact through banking technology implementations and innovations using emerging technologies, such as cloud, open APIs, artificial intelligence and machine learning.

IBS Intelligence is a leading global fintech news, research and analyst firm and the innovation awards are a truly global celebration of the best in banking and fintech with 220 submissions across 52 countries with 122 banks participating for the 30 categories this year.

Temenos won in ‘Best Banking Technology Implementation’ categories, recognizing excellence in implementations and in ‘Best FinTech Innovation’ categories, recognizing innovative use of cloud and open API technology, including:

‘Most Impactful Project – Core Banking’ with Varo Bank. Varo is the first consumer fintech granted a national bank charter in the US. With Temenos, Varo estimates the cost to service a customer is going to be 25% of what it will cost a traditional bank.

‘Most Innovative Project – Innovative Cloud Deployment’ with EQ Bank. EQ Bank was the first bank in Canada hosted in the cloud. With Temenos, the bank reached its five-year growth target in half the anticipated time.

‘Best Original & Adoptable Concept – Innovative API / Open Banking’ with Flowe. Italian challenger bank Flowe went live in record time in just 5 months. Temenos’ API-first technology allows Flowe to cut down deployment time and costs as well as easily connect to third parties.

Max Chuard, Chief Executive Officer, Temenos, said: “We are immensely proud to receive these esteemed awards with some of our most visionary clients we call Changemakers. These award-winning projects are great examples of how in partnership with our clients we can reinvent and shape the future of banking. Huge congratulations to Varo Bank, EQ Bank and Flowe for their fantastic achievements and for making banking better, together with Temenos.”

Temenos Changemakers are leaders, disruptors, pioneers and risk-takers who believe in changing the landscape of banking by leveraging the power of technology. They unleash the full power of the Temenos technology platform to imagine, create and deliver outstanding banking experiences to 1.2 billion people all around the world, relying on Temenos today for their banking needs

Robin Amlot, Managing Editor, IBS Intelligence, commented: “We congratulate Temenos and its clients on its standout achievement. This year has brought to the fore the absolute need for digitalization in financial services. The multitude of challenges exacerbated by the global pandemic has forced financial services firms to innovate at a speed never seen before. Winning these awards is recognition that Temenos’ has risen to the occasion and dramatically transformed the industry.”

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