- Powered by Temenos, LTI's Banking-as-a-Service platform modernizes legacy core banking systems, rapidly and efficiently
MUMBAI, India, Dec. 1, 2020 /PRNewswire/ -- Larsen & Toubro Infotech (LTI), a global technology consulting and digital solutions company, has partnered with Temenos, the banking software company, to launch Digital Banking Platform, powered by Temenos technology. The platform will modernize legacy core banking systems in the Nordic region, enabling financial institutions to be more agile and scalable while reducing operating costs. Banks will also be able to leverage the platform to launch new products and services faster.
With its comprehensive capabilities, the Digital Banking Platform provides end-to-end integration with Temenos Transact, Temenos Infinity, Temenos Payments, and Temenos Financial Crime Mitigation as well as Fintech solutions like regulatory reporting, authentication, KYC solutions, card services, and payment solutions available on Temenos Marketplace. LTI and its fully-owned subsidiary, Syncordis Consulting, a leading Temenos expert in the European region for more than 15 years, will provide implementation and managed services.
The partnership heralds a new era for Nordic banks as it brings together LTI's expertise in the domain and its deep understanding of Temenos functionality and advanced cloud-native, cloud-agnostic, AI and API-first technology solutions, enjoyed by over 3,000 banks in over 150 countries.
Sanjay Jalona, CEO & Managing Director, LTI, said, "This partnership of Temenos and LTI brings unmatched experience, expertise, and passion for innovation to the banks and financial institutions in the Nordic region. The new powerful banking platform based on Temenos' cloud-native technology, will enable banks to scale, modernize, and reduce IT cost significantly. Through our exclusive Temenos Accelerator Toolkit, we amplify outcomes with a faster time-to-market and continue to provide outstanding banking modernization services that empower banks to take a quantum leap in their digital transformation journey."
Max Chuard, Chief Executive Officer, Temenos, said, "This is a strategically important signing for Temenos in the Nordics. We are delighted to expand our partnership with LTI and Syncordis to offer to the market the next generation digital banking platform. Together with our partners, we are offering banks access to LTI's global banking expertise across the full Temenos' solutions applied to the specific needs of the Nordic region. Our advanced cloud and AI technology combined with our rich banking country model bank functionality is becoming the de facto choice for the Nordic banks and financial institutions. We enable banks to modernize their legacy systems, future-proof their banking platform while offering innovative services to their customers."
LTI is one of the leading IT Service Providers in the Nordic region. The IT Sourcing Study 2020 by Whitelane Research ranks LTI at #2 in terms of customer satisfaction across Europe. The company counts leading banks and financial institutions among its clients in the region.
LTI (NSE: LTI) is a global technology consulting and digital solutions Company helping more than 400 clients succeed in a converging world. With operations in 32 countries, we go the extra mile for our clients and accelerate their digital transformation with LTI's Mosaic platform enabling their mobile, social, analytics, IoT and cloud journeys. Founded in 1997 as a subsidiary of Larsen & Toubro Limited, our unique heritage gives us unrivalled real-world expertise to solve the most complex challenges of enterprises across all industries. Each day, our team of more than 32,000 LTItes enable our clients to improve the effectiveness of their business and technology operations and deliver value to their customers, employees and shareholders. For more information please visit www.lntinfotech.com or follow us at @LTI_Global
Temenos AG (SIX: TEMN) is the world's leader in banking software. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 1.2 billion banking customers. Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence.
Temenos software is proven to enable its top-performing clients to achieve cost-income ratios of 26.8% half the industry average and returns on equity of 29%, three times the industry average. These clients also invest 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks' IT investment is adding tangible value to their business.
For more information, please visit www.temenos.com
As LTI's Temenos practice, Syncordis delivers high-quality end-to-end implementation and system integration projects. In addition, Syncordis offers complementary services such as regulated SaaS (PSF certified) and production support covering all Temenos products and surrounding third party systems.
An extensive expert pool of local and offshore professionals provides both business and technical expertise, and tailors each project to the client's individual requirements and needs. It is Syncordis' mission to drive digital excellence in the banking sector and help all clients realize the power of digital transformation while also providing a great place to work for all employees. www.syncordisconsulting.com