TEMENOS
Temenos (SIX: TEMN), the banking software company, today announced that its cloud-native technology platform has gone live with Varo Bank, N.A. (“Varo”). Varo, the first consumer fintech granted a national bank charter in the US, is using Temenos Transact as its core banking technology. Temenos Transact makes it possible to rapidly innovate and offer a full range of digital banking products, from deposit and saving accounts to credit and loans, at a lower cost - supporting Varo’s mission to advance the financial wellbeing of millions of Americans underserved by traditional banks.
Colin Walsh, Founder and CEO of Varo Bank, commented: “Varo was founded with a clear vision to deploy a more efficient business model and cutting-edge technology in order to create a new kind of bank - one that is wholly designed around the financial health and wellbeing of the everyday American consumer. From the start, we knew this vision needed to be supported by having a national bank charter and an innovative technology partner like Temenos. After a three and a half year journey, I’m thrilled that Varo has made history as the first US consumer fintech to receive a national bank charter. Varo Bank is now live using our new industry-leading technology stack, developed in partnership with Temenos. Varo now has a historic opportunity to deliver the tech-driven banking products and services that will help millions of Americans make progress in their financial lives.
Varo’s trailblazing, all-digital banking services are supported by Temenos Transact core banking technology hosted in the cloud. Temenos’ advanced cloud-native platform enables Varo to continuously deploy new features and products and rapidly innovate. Temenos’ platform also allows the bank to automate its back office, reduce costs and benefit from lower cost/income ratio. This supports Varo’s ability to rapidly scale based on customer demand and offer an expanded portfolio of services at a lower cost such as checking and saving accounts with no monthly fees. Temenos US model bank approach also helped Varo meet the specific business and regulatory needs of the market in an efficient and cost-effective way. Varo is currently implementing Temenos Infinity Origination, a solution tailored to support loan and account origination in North America for banks and credit unions.
The national bank charter allows Varo to expand its offering of comprehensive, FDIC-insured banking services and accelerate the pace of product innovation, supported by Temenos’ APIs Temenos technology will help Varo to bring its next generation of new banking products and features to market faster and at a lower cost.
Max Chuard, Chief Executive Officer, Temenos, said: “Congratulations to Varo for achieving this unprecedented banking charter milestone. This marks a new beginning for digital banking in the US and Temenos is proud to have supported Varo on this exciting journey. Temenos cloud technology will help Varo accelerate its impressive track record of growth, innovation and social impact. We are pleased to see strong traction in the US market across all our products as we continue to support banks to deliver value to their customers. We’re delighted to have accomplished this revolutionary milestone with Varo and look forward to supporting their continued growth in this next exciting phase.”
Join Temenos’ leading digital event – Synergy Online on 23 September to listen to Colin Walsh’s keynote “The Future of Digital Banking” on how Varo, became the first consumer fintech, to receive a national bank charter in US history and is able to launch new products at an unprecedented pace through the speed of the cloud.
– Ends –
About Temenos
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 500 million 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 .
View source version on businesswire.com: https://www.businesswire.com/news/home/20200901005025/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
First Cessna SkyCourier Delivered into Mexico, Expanding Air Freight Capabilities for FlexCoah22.12.2025 18:13:00 CET | Press release
The first Cessna SkyCourier in Mexico was recently delivered to cargo transportation provider FlexCoah for use by the company’s aviation subsidiary, Altair. The aircraft — a freighter variant — will expand the company’s air freight capabilities throughout the country. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251222890759/en/ First Cessna SkyCourier delivered into Mexico, expanding air freight capabilities for FlexCoah (Photo Credit: Textron Aviation) The Cessna SkyCourier is designed and manufactured by Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company. “The Cessna SkyCourier’s combination of reliability, payload capacity and mission flexibility makes it a powerful asset for operators looking to scale their operations while maintaining cost-efficiency,” said Lannie O’Bannion, senior vice president, Sales & Marketing. “The delivery of the Cessna SkyCourier to FlexCoah reflects the aircraft’s growing role in tran
Proudly Produced in Donegal: ProAmpac Invests in the Future of Food Board Manufacturing22.12.2025 17:34:00 CET | Press release
ProAmpac, a global leader in flexible packaging and material science, is strengthening its operational footprint with the expansion of Food Board manufacturing capabilities at its Donegal, Ireland campus. The addition of a new, purpose-built Food Board production area within the existing site reinforces ProAmpac’s commitment to innovation, efficiency, and customer service across the food packaging sector. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251222149380/en/ Carr & Sons Smoked Salmon - ProAmpac As an extension of the existing Donegal operations, which support the pet food, food-to-go, and CPG markets, the expanded production area increases capacity and precision. A state-of-the-art guillotine system delivers cleaner cuts and consistent board quality, ensuring every sheet meets ProAmpac’s performance standards. The expanded facility area introduces several key improvements for customers: Dedicated Customer Service T
Coherent Solutions closes strategic investment led by IceLake22.12.2025 16:07:00 CET | Press release
Coherent Solutions, a global digital engineering firm, has announced the closing of the strategic investment from IceLake, a leading private equity investor specializing in partnering with high-growth business services organizations. The transaction, previously announced in September 2025, has now received all necessary regulatory approvals. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251222791182/en/ Coherent Solutions and IceLake close strategic investment Coherent Solutions employs ~2,000 digital engineering, product, and design professionals across Europe and Latin America. The company builds and modernizes digital products and platforms for growing scale-ups and established global brands. “In a market saturated with AI claims, we’re seeing clients prioritize partners who can convert technology into measurable business outcomes,” said Igor Epshteyn, CEO of Coherent Solutions. “Staying grounded in digital value creatio
China Industry Leaders Convene in Jianshui to Chart the Blueberry Sector’s Growth Path22.12.2025 14:32:00 CET | Press release
The Third Yunnan Blueberry Conference and the release ceremony of the “Xinhua–Yunnan Honghe Blueberry Industry Development Index Report” opened on December 19 in Jianshui County, Honghe Hani and Yi Autonomous Prefecture, in southwest China’s Yunnan Province. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251222516223/en/ The opening ceremony of the conference on 19th Dec in Jianshui. The conference has attracted scholars, experts, business representatives, and purchasers from across China, who have gathered here to explore pathways for promoting the high-quality development of the blueberry industry. During the three-day conference, organizers convened two major signing ceremonies: a cooperation agreement to jointly establish the Yunnan Blueberry Research Institute, and a strategic agreement to enhance financial support for the full industrial chain of Honghe blueberries. Outstanding organizations and individuals contributin
Modon Holding Forms Joint Venture With Related Companies and Panepinto Properties to Deliver Harborside 4, a Luxury Residential Tower Along the Waterfront in the Heart of Downtown Jersey City22.12.2025 14:17:00 CET | Press release
Modon acquires a majority equity stake in Harborside 4, a prime 54-story development scheme in downtown Jersey City which will deliver 800 luxury rental apartments and condos in Q1 2029Joint venture with Related and Panepinto supports Modon’s ongoing strategy to diversify its global portfolio through high quality investments and strong international partnerships Modon Holding PSC (“Modon”) today announced a new joint venture to deliver Harborside 4, a 54-story residential tower on one of the last prime waterfront sites in downtown Jersey City, New Jersey, USA. Modon will hold a majority equity stake alongside leading US developer Related Companies and long-established Jersey City firm Panepinto Properties (the “Joint Venture”), marking a further milestone in the Group’s strategy to scale its diversified global portfolio. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251222455854/en/ Harborside 4 render (Photo: AETOSWire) Ha
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom