Banking software solution provider Temenos is making significant progress in the area of Central Bank Digital Currency (CBDC) and cloud banking solutions through strategic collaborations.
As reported by the FinTechTimes, Temenos has announced the successful integration of its banking platform with numerous Distributed Ledger Technology (DLT)-based CBDC technology stacks.
This integration demonstrates the company’s capacity to execute end-to-end retail CBDC use cases for commercial bank touchpoints such as central bank token issuance, client non-custodial wallet generation, CBDC conversion, and on-chain transactions.
Partnerships in the CBDC Space
In the CBDC space, Temenos has conducted a major project that incorporates the use of Hyperledger Besu, an open-source Ethereum client, and the Norges Bank CBDC sandbox.
By leveraging the capabilities of Hyperledger Besu and its expertise in banking software solutions, Temenos demonstrated its ability to execute CBDC use cases that are secure, efficient, and scalable.
Additionally, Temenos has also integrated its banking platform into the R3’s Corda platform, demonstrating the company’s adaptability and readiness to embrace the digital currency future.
Partnerships with Cloud Solutions
In the cloud banking space, Temenos has also announced the availability of its core banking products as software-as-a-service (SaaS) following the integration of its application on Amazon Web Services (AWS).
Markedly, Temenos clients may now access the Banking Cloud from anywhere in the world, while simultaneously benefiting from AWS’s global infrastructure’s security, compliance, and resilience.
While commenting on the update, Prema Varadhan, President of Product and COO at Temenos revealed that the company’s Banking Cloud currently serves over 700 clients across five continents.
Temenos Positions Itself for Global Recognition
Temenos’ successful integration of its banking platform with multiple CBDC technology stacks and cloud banking solutions is a significant milestone for the firm.
It also reflects the company’s dedication to providing cutting-edge banking software solutions as well as its willingness to adopt future financial sector trends.