IT in Banking

DXC Technology inks agreement with Temenos

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B2B IT services company DXC Technology has expanded its worldwide relationship with banking software business Temenos to offer its global banking customers a modernisation path leveraging Temenos cloud-native, modern technology.

The two companies will provide a cloud-native core banking solution based on the BIAN (Banking Industry Architecture Network) architecture,  enabling the world’s largest banks, including 15 of the top banks in the US, to take the risk out of transformation initiatives, quicken time to market, and lower total cost of ownership

According to the companies, the partnership unites the cloud hosting, implementation and integration strengths of DXC with the power of Temenos industry-leading banking software. The two companies will jointly offer large bank customers the optimal modernisation approach to address competitive, regulatory, cost and innovation drivers.

A lot of large banks are having to deal with complex legacy technology stacks that can include multiple core capabilities, disparate systems and product silos, the companies say. 

These banks are embarking on transformation projects to compete with fintechs and neobanks, whose agility allows them to rapidly launch differentiated products and attract new customers. DXC and Temenos are hoping to help them compete with challengers by rapidly adapting their business models and offering differentiated services to their customers.

Dmitry Loschinin, EVP at DXC Luxoft Analytics & Engineering, says core IT systems play a central role in helping banks innovate and deliver next-generation banking services to their customers. As with any major IT transformation, enterprise-level change needs to be undertaken with the right partners. Temenos’ software and DXC’s professional services and banking expertise will empower banking customers to begin their IT modernisation journey and focus on their core business strengths.

“This joint go-to-market strategy with DXC is a new channel to market for Temenos, which will accelerate our penetration in the large banks segment, notably with the US market, representing approximately 60% of the total third-party market spend,” adds Max Chuard, CEO of Temenos.

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