Temenos and Microsoft Azure Power More Efficient, Greener Banking Platform – Fintech Singapore

Banking software company Temenos has announced a new sustainability benchmark for its cloud-native banking platform on Microsoft Azure, highlighting its efficiency in managing digital transaction demands while aiding banks in achieving sustainability goals.

The benchmark, which used Temenos Retail Enterprise Services, simulated a client base of 25 million customers and 38 million accounts, processing 12 million loans on a single instance.

This latest assessment revealed up to a 52 percent efficiency improvement in workload handling compared to the previous version, showcasing advances in Temenos’ architecture towards greater sustainability and efficiency.

From a 2021 baseline, and validated by GoCodeGreen, Temenos has reduced the carbon impact of its software by over 50 percent.

These improvements mean less infrastructure demand, lower processing power, reduced energy consumption, and consequently, lower carbon emissions.

Coupled with the sustainability efforts of partners like Microsoft, this offers significant environmental benefits for banks deploying Temenos solutions on public cloud or as SaaS.

A recent Economist Impact study of 300 global banking executives revealed that over half expect banks to move entirely to public cloud data centers within the next five years.

Kalliopi Chioti

Kalliopi Chioti, Chief Marketing and ESG Officer, Temenos said,

“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

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.”

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• Source: https://fintechnews.sg/95821/cloud/temenos-and-microsoft-azure-power-more-efficient-greener-banking-platform/