ABN Amro Selects Temenos to Accelerate Continuous Innovation – ‘Coding in the Morning, Deploying in the Afternoon’
Temenos (SIX: TEMN), the banking software company, today announced that ABN Amro has selected Temenos Continuous Deployment, which utilizes DevOps principles and extends the Temenos DevOps operations into the banks environments, to accelerate the bank’s speed of software delivery and rapidly launch new competitive innovations to the market. With 22 innovation teams within the Investment and Corporate Banking division of ABN Amro using Temenos Continuous Deployment to support their agile development methodologies, the bank will be able to bring business change more rapidly and securely to market. Using Temenos Continuous Deployment, this repeatable process will be dramatically faster and more flexible and is expected to increase efficiency in early stage testing and deployment by more than 30%. Temenos Continuous Deployment is provided by Temenos as a Service (SaaS) while reducing cost of deployment.
Friso Westra, Head of IT Development Core Banking International at ABN Amro will be joining Max Chuard, CEO of Temenos on the opening plenary session at TCF to talk about using Continuous Deployment to accelerate innovation.
The banking group, one of the largest in the Netherlands and a longstanding customer of Temenos, is now taking advantage of the Temenos Continuous Deployment offering to enable developer teams to quickly and independently develop, test and deploy change including configuration and extension code in a safe, secure and reliable automated environment. ABN Amro will be able to provision a new environment to build and test its innovations in just hours. The number of deploy and test pipelines per day is expected to increase from 1 to 15 per day. The bank also envisages being able to increase test cycles by 100x, the increase in testing will result in higher quality, more frequent automated releases.
By enabling a “code in the morning, deploy in the afternoon” approach, the time required to develop, test and release software changes is reduced from weeks to days or hours, enabling the bank to rapidly deploy change in a safe and controlled manner. Temenos Continuous Deployment offers a self-service environment where the project team can simply and quickly request on-demand the creation and provisioning of production-like environments based on the bank’s configuration. It allows automated testing and deployment of software changes from both the bank, and from Temenos, in a regular and predictable way.
ABN Amro first implemented the Temenos T24 core banking platform – the forerunner to Temenos T24 Transact – for its corporate banking activities in 2009, Temenos Payments Hub in 2012 and Temenos WealthSuite for its international private banking business in 2015.
Friso Westra, Head of IT Development Core Banking International of ABN Amro said: “Thanks to Temenos’ innovative continuous-deployment product, we can gain greater product agility and improved time-to-value, accelerating the speed of innovation and making business changes rapidly. Temenos Continuous Deployment is to provide high levels of automation to support our agile development approach. Continuous Deployment will allow our developers to focus more time on the value of their deliverables spending less time coordinating testing and deployment with other teams.”
Max Chuard, Chief Executive Officer, Temenos, said: “I’m delighted that ABN Amro, a long standing customer, has now selected our Temenos Continuous Deployment SaaS product, as the bank is leading with DevOps tools and methodologies to accelerate its speed of software delivery and business innovation. We are entering a new era of banking where cloud-native, cloud-agnostic and advanced open API technologies are enabling the bank to dramatically reduce deployment time and as result massively cut down costs.”
Temenos is also launching a dedicated Deployment Centre of Excellence drawing on best practices from over 1000 go-lives and utilizing new tools, agile processes and methodologies to dramatically reduce the cost of deployment. This Centre of Excellence will help banks to industrialize the banking software deployments, with lower costs and faster time to market. Temenos has also launched a new implementation approach, Build and Renovate, that enables the larger banks to quickly build a new, fully digital stack, and to begin continuously migrating products and customers across from their legacy stack.
Temenos recently marked a major milestone with the launch of Temenos Infinity – a breakthrough digital front office product – and Temenos T24 Transact, the next generation in core banking. These new products further demonstrate a commitment to constant innovation, leveraging 25 years of functionality from 3,000 banks in more than 150 countries with the most advanced cloud-native, cloud-agnostic, API-first technology and design-led thinking.
– Ends –
About ABN Amro
ABN AMRO is a Dutch bank for retail, corporate and private banking clients. We are a relationship-driven, knowledgeable and digitally savvy bank, active in Northwest Europe and with expertise in selected sectors globally. Our purpose is Banking for better, for generations to come. Headquartered in Amsterdam, ABN AMRO employs around 19,000 people worldwide.
Please visit us at www.abnamro.com
Temenos AG (SIX: TEMN), headquartered in Geneva, is the world’s leader in banking software, partnering with banks and other financial institutions to transform their businesses and stay ahead of a changing marketplace. Over 3,000 firms 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 500 million banking customers. Temenos offers cloud-native, cloud-agnostic front office and core banking, payments, fund management and wealth management software products enabling banks to deliver both consistent, frictionless customer journeys and gain operational excellence. Temenos customers are proven to be more profitable than their peers: over a seven-year period, they enjoyed on average a 31% higher return on assets, a 36% higher return on equity and an 8.6 percentage point lower cost/income ratio than banks running legacy applications. For more information please visit www.temenos.com .
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