Temenos sets sustainability benchmark for cloud-native core banking with Microsoft
This benchmark shows the advances in Temenos’ leaner and more sustainable architecture to handle the variable demands of digital transactions while supporting banks to meet their sustainability goals
DUBLIN, Ireland, May 15, 2024 (GLOBE NEWSWIRE) -- Temenos Community Forum -- Temenos (SIX: TEMN) today announced the results of a sustainability benchmark for its cloud-native banking platform running on Microsoft Azure, demonstrating the efficiency to handle the variable demands of digital transactions while also supporting banks to meet their sustainability goals.
The Microsoft benchmark simulated a client using Temenos Retail Enterprise Services with 25 million customers and 38 million accounts, processing 12 million loans on a single instance. Having previously set a record highwater benchmark for the volume of transactions per second (TPS), this latest benchmark showed the advances in Temenos’ leaner and more sustainable architecture, with up to 52 percent like-for-like efficiency improvement for the tested workloads compared to the previous release.
From a 2021 baseline and validated by GoCodeGreen, Temenos has reduced the carbon impact of its software by over 50 percent. Improving the performance with more efficient code and leaner architecture means less demand for infrastructure, less processing power needed and consequently less energy consumed and lower carbon emissions. Combined with Temenos sustainable operations and the sustainability of hyperscaler partners like Microsoft, this brings added environmental benefits for banks choosing to deploy Temenos solutions on public cloud or as SaaS. Temenos continuously invests in its cloud-native platform to ensure it leverages the latest advances and innovations from hyperscalers.
According to a recent Economist Impact study of 300 global banking executives, more than half (51 percent) of survey respondents agree that banks will no longer own any data centers because they will have moved to public cloud in the next five years.
Tony Coleman, Chief Technology and Innovation Officer, Temenos, commented: “The sustainability benchmark on Microsoft Azure shows the unmatched speed and efficiency of Temenos’ cloud-native platform helping banks to decarbonize their operations and grow their businesses sustainably. Over the years Temenos has worked hard investing considerable R&D to get the best out of the cloud with a platform and solutions that are fully cloud-native. With a leaner and greener architecture, Temenos is by far the most sustainable way to run core banking in the cloud.”
Kalliopi Chioti, Chief Marketing and ESG Officer, Temenos, added: “Compliance with climate regulation and meeting environmental targets have joined the list of reasons why banks are accelerating the shift to the cloud. Temenos is committed to helping our clients reach their own ESG targets, particularly through our cloud-native platform, enabling our clients to significantly reduce their carbon emissions. Further, with our Carbon Emissions Calculator, a free tool embedded within Temenos SaaS, we empower banks to track their direct and indirect cloud emissions from banking activities, helping measure progress towards sustainability goals and comply with growing climate regulations.”
Christian Sarafidis, Chief Executive EMEA Financial Services, Microsoft, said: “We are thrilled to see our collaboration with Temenos continue to set new standards for core banking in the cloud. Temenos and Microsoft have a strategic relationship to meet the growing demand from banks for cloud and SaaS banking services. Together, with our combined expertise we are leading the transition to a more sustainable banking industry.”
About Temenos
Temenos (SIX: TEMN) is the world’s leading platform for composable banking, serving clients in 150 countries by helping them build new banking services and state-of-the-art customer experiences. Top performing banks using Temenos software achieve cost-income ratios almost half the industry average and returns on equity 2X the industry average. Their IT spend on growth and innovation is also 2X the industry average.
For more information, please visit www.temenos.com.
