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
Deetken Impact Expands Climate Finance Leadership as Canada Joins Inclusive Climate Action Fund27.11.2025 10:07:00 CET | Press release
Deetken Impact, a Canadian impact investment firm, is proud to partner with the Government of Canada and announce their CAD$106 million commitment in the new Inclusive Climate Action Fund (ICAF), a USD$300 million blended finance vehicle that will mobilize capital for climate finance initiatives across Latin America and the Caribbean (LAC). Announced at the 30th United Nations Climate Change Conference (COP30) in Belém, Brazil by the Honourable Julie Dabrusin, Canada’s Minister of Environment and Climate Change, ICAF will meaningfully contribute to sustainable and climate-resilient economies in LAC through the strategic provision of capital and technical assistance to companies and projects that drive climate mitigation and adaptation in key sectors such as clean energy, sustainable agriculture and agroforestry, and green finance. ICAF aims to achieve ambitious impacts including reducing, avoiding, or sequestering more than 5 million tCO2 and expanding access to climate solutions for 1
Infobip Unveils 2026 Trends Poised to Transform Customer Engagement and Digital Ecosystems27.11.2025 10:00:00 CET | Press release
AI automation, Rich Messaging and platform integration set to reshape industries Global cloud communications platform Infobip today announces its predictions for 2026, spotlighting transformative trends set to redefine how businesses engage customers and operate across sectors. Central to these shifts are the mainstream adoption of AI-powered agents, the expansion of super apps as integrated ecosystems, and the rise of privacy-first AI models enabling scalable, compliant automation. “2026 will be a breakthrough year as generative AI and omnichannel communication converge to redefine customer engagement and digital ecosystems,”said Silvio Kutić, CEO at Infobip. “Retail and eCommerce sectors are already leading the way with hyper-personalized experiences, while healthcare and finance are rapidly adopting AI-driven solutions to enhance patient care and security. Crucially, the future of customer service lies in a human-in-the-loop approach—where AI-powered automation works hand-in-hand wi
Lenovo Leads the Circular IT Shift with a New Chapter to Extend Lifecycles for Aging Tech27.11.2025 09:27:00 CET | Press release
Lenovo Certified Refurbishment Services, now live across 14 European markets, help businesses reduce e-waste and stretch IT investments further Lenovo today introduced Lenovo Certified Refurbishment Services, a new addition to its IT sustainability and lifecycle solutions portfolio, available in EMEA. The service gives organizations the ability to refurbish their existing Lenovo devices, restoring useful life and enabling redeployment to deliver cost savings, maximize IT budgets and reduce e-waste. Most businesses still follow a binary model for their device lifecycle and refresh strategies: extend the warranty or buy new. However, Lenovo’s Certified Refurbishment Services introduce a powerful third option, refurbishing existing Lenovo devices to be reused or repurposed internally, to avoid premature retirements, balance IT refresh programs and help maximize investment. With IT budgets under pressure and sustainability goals rising to the top of corporate agendas, businesses across Eur
Hytera Introduces Smart PoC Radios P50E and P60 at PMRExpo 202527.11.2025 09:00:00 CET | Press release
Hytera, a leading global provider of critical communications technologies and solutions, has officially launched its latest smart Push-to-Talk over Cellular (PoC) radios – the P50E and the P60 – at PMRExpo 2025. This launch marks a significant expansion of Hytera’s PoC portfolio, delivering the company’s most robust and comprehensive range of devices to date, offering a wide spectrum of options to meet the growing demand for PoC solutions across all sectors throughout Europe. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251126296378/en/ Hytera unveiled new PoC radios P50E & P60 at PMRExpo 2025. Stay Smart and Safe with the P50E Featuring a compact 0.96-inch screen and a keyboard-free design, the P50E embodies the design philosophy of the P5 Series – Where Reliability Meets Simplicity. With the addition of the P50E, the P5 Series – which also includes the P50 and the P50 Pro – now provides users greater flexibility to align
Stefanini Group Announces Major 2026 Investment and Expansion in France During Brazil-France Forum27.11.2025 09:00:00 CET | Press release
Global tech consulting company’s founder, Marco Stefanini to attend Brazil-France Forum as special guest, culminating in high-profile meeting with President Emmanuel Macron Stefanini Group, a global tech consulting company with expertise in digital transformation and artificial intelligence solutions, today announces a significant, multi-faceted commitment to the French market. The company plans a major investment and strategic expansion throughout 2026. The announcement is timed to the participation of Marco Stefanini, Founder and Global CEO of Stefanini Group, in the technology panel at the LIDE Brazil–France Forum, scheduled in Paris for November 26–27, 2025. “France is a crucial hub for the next wave of global digital transformation. Our increased investment here reinforces our AI-First methodology for French enterprises, leveraging cutting-edge technology to accelerate their digital journey and drive a new era of efficiency and innovation,” said Marco Stefanini. The company is aim
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