TEMENOS
4.3.2021 14:02:14 CET | Business Wire | Press release
Temenos (SIX: TEMN), the banking software company, today announced that it is partnering with Canadian Western Bank (CWB) on a pioneering innovation to support small- and medium-sized enterprises (SMEs) with financial decision-making and growing their businesses. The new solution, Temenos Virtual COO, is built on Temenos Infinity, the leading omnichannel digital banking product, and leverages Temenos Analytics and Explainable AI (XAI), API-first, cloud-native technology.
Temenos Virtual COO will offer relevant insights to accelerate the growth of small businesses and put business owners in control of their companies’ financial destiny. SME owners will be able to simulate different business scenarios with XAI-driven modeling enabling them to identify the best course of action for their business. The new solution will aggregate financial banking and business data to provide a consolidated real-time view of an SME’s financial health, and lighten the administrative burden so that business owners can spend more time on their business. Temenos Virtual COO will enable banks around the world to deliver tailored experiences that help SMEs navigate a complex and constantly changing landscape, and provide an open banking ecosystem for a centralized, next-generation experience. With this innovation, CWB will cement its position as the trusted advisor for SMEs in Canada, and a pioneer in financial services.
Temenos Virtual COO emerged from Temenos SME Think Space, an open innovation event of changemakers from across the industry. Temenos brought together SME owners, banks and technology partners in a two-day design sprint and hackathon to generate new ideas on how to solve the biggest challenges for SMEs. During that event, the delegates identified needs that aren’t currently being fulfilled by financial institutions – a heavy administrative burden and a lack of meaningful insight to support growth. This feedback became the driving force behind the collaboration between Temenos and CWB on Temenos Virtual COO.
Following the Temenos SME Think Space event, CWB partnered with Temenos on a 12-week Innovation Proof of Concept for Virtual COO. As part of the design process, Temenos and CWB applied feedback from local small business owners into the prototype, and then validated the results. By applying Design Thinking, agile methodologies, and Lean Startup principles, Temenos and CWB confirmed the potential for Virtual COO to deliver business value to banks and their SME customers. Deloitte Digital will collaborate with Temenos to take Virtual COO to market.
CWB is known for the relationship-based client experience it offers Canadian business owners. The bank has been a Temenos customer since 2012 when it began its transformation with Temenos Transact, the next generation in core banking. CWB also selected Temenos to deliver personalized, end-to-end digital experiences with Temenos Data Lake and Temenos Infinity, forming a strategic relationship. Temenos Virtual COO is the next phase of CWB’s ongoing commitment to deliver a differentiated digital banking experience that empowers SME owners.
Chris Fowler, President and CEO, Canadian Western Bank, commented: “It’s important now, more than ever to offer innovative digital solutions that ease the challenges that business owners face as they look to grow and maintain a business, especially during a pandemic. Temenos has been a key strategic partner for us on our digital transformation journey, and we are impressed with their focus and investment in innovation. We are excited to partner with Temenos to bring to market a data and intelligence-driven solution that will offer real-time insights and a holistic view, empowering SMEs to grow.”
Max Chuard, CEO, Temenos, said: “We are excited to bring this Innovation Proof of Concept to life with CWB. Temenos Virtual COO looks beyond what financial services banks offer to SMEs today, to what they can offer tomorrow. Running Innovation Proof of Concepts like this enables Temenos and clients like CWB to identify new opportunities to lead by example. With this collaboration on Temenos Virtual COO, CWB will take its digital offering to the next level, providing an innovative customer-centric solution tailored to the specific needs of SMEs. We are excited to work with CWB on this initiative, and inspire banks around the world to support their local communities and economies in new and exciting ways.”
– 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 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 .
View source version on businesswire.com: https://www.businesswire.com/news/home/20210304005471/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
Lenovo Group: Q4 and Full Year Financial Results 2025/2622.5.2026 01:47:00 CEST | Press release
Lenovo delivers exceptional fourth quarter results – maintaining growth and concluding strongest year in the Group’s history Lenovo GroupLimited (HKSE: 992) (ADR: LNVGY), together with its subsidiaries (‘the Group’), today reported fourth quarter and full year results for fiscal year 2025/26, marking an exceptional Q4 and the strongest year in the Group’s history. During the quarter, overall Group revenue reached an all-time fourth quarter high of US$21.6 billion, up 27% year-on-year, marking the highest year-on-year growth rate in five years, with adjusted net income[1]doubling year-on-year to US$559 million. AI-related revenue[2] stood out as a leading growth engine, growing 84% year-on-year to account for 38% of total Group revenue in Q4. For the full year, the Group delivered record revenue of US$83.1 billion, with adjusted net income growing 42% year-on-year to US$2 billion. All business groups achieved solid double-digit year-on-year revenue growth, with a notable record full-yea
Andersen Global styrker sine globale mobilitetskompetencer med samarbejdspartneren Graebel22.5.2026 00:05:00 CEST | Pressemeddelelse
Andersen Global fortsætter med at styrke sin multidimensionelle platform gennem en samarbejdsaftale med Graebel, en global leder inden for medarbejdermobilitet og managed services med hovedkvarter i USA og globale aktiviteter på tværs af Nord- og Sydamerika, Europa og Asien. Graebel blev stiftet i 1950 og samarbejder med mange af verdens mest anerkendte organisationer om en mere simpel tilgang til mobilitet og talentstyring. Virksomheden hjælper organisationer med at støtte medarbejdere gennem hele ansættelsen – fra praktikophold og onboarding til national og international mobilitet samt karriereskift – gennem tjenester, der spænder over strategisk planlægning, hjælp til afrejse og på destinationen, assistance under udstationering, hjemsendelse og design af mobilitetsprogrammer. Gennem strategisk rådgivning og intelligent teknologi gør Graebel det muligt for organisationer at træffe mere informerede beslutninger og afstemme talentmobilitet med en bredere forretnings- og arbejdsstyrkest
The Estée Lauder Companies & Puig End Discussions Regarding a Potential Business Combination21.5.2026 22:05:00 CEST | Press release
The Estée Lauder Companies Reiterates Confidence in Its Beauty Reimagined Strategic Vision On March 23, 2026, The Estée Lauder Companies Inc. (NYSE: EL) and Puig confirmed they were in discussions regarding a potential business combination, but unless and until an agreement was signed between the companies, there could be no assurances regarding the deal or its terms. The Estée Lauder Companies and Puig today announced that the parties have terminated discussions regarding a potential business combination. The Estée Lauder Companies remains fully focused on continuing to execute its Beauty Reimagined strategy, which is well underway and delivering positive results. “We are grateful for the conversations we have had with Puig,” said Stéphane de La Faverie, President and Chief Executive Officer of The Estée Lauder Companies. “Today, we are reiterating our confidence in the power of our incredible brands, our talented teams, and our strength as a standalone company. We are more optimistic
Imagine Dragons to Perform at Abu Dhabi Grand Prix21.5.2026 17:51:00 CEST | Press release
Ethara, organiser of the Formula 1 Etihad Airways Abu Dhabi Grand Prix, have announced that one of the world’s biggest bands, Imagine Dragons, will headline the Saturday After-Race Concerts at the F1 Season Finale in Abu Dhabi. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260521214839/en/ Imagine Dragons to perform at Formula 1 Etihad Airways Abu Dhabi Grand Prix (Photo: AETOSWire) The announcement is another landmark moment for the Abu Dhabi Grand Prix, whose thrilling Yasalam presented by e& fan entertainment offering has become synonymous with the F1 Championship finale in Abu Dhabi and is recognised as one of the most compelling sports and entertainment crossovers globally. The global chart-toppers join Lewis Capaldi and Zara Larsson, who are set to kick off a blockbuster line-up of performances on Yas Island on Thursday, 3 December, with more major international artists to be revealed. With their popular top hits, Ima
Carnegie Mellon University and Cleveland Clinic Develop AI System to Interpret Cardiac MRI Scans with Enhanced Accuracy21.5.2026 14:05:00 CEST | Press release
Trained on more than 13,000 patient studies, novel system significantly outperforms existing models by up to 35% A team of researchers from Carnegie Mellon University, in collaboration with Cleveland Clinic’s Cardiovascular Innovation Research Center, has developed an artificial intelligence (AI) system capable of interpreting some of the most complex heart scans in medicine, cardiac magnetic resonance imaging (MRI), without the need for manually labeled training data. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260521762286/en/ A team of researchers from Carnegie Mellon University, in collaboration with Cleveland Clinic’s Cardiovascular Innovation Research Center, has developed an artificial intelligence (AI) system capable of interpreting some of the most complex heart scans in medicine, cardiac magnetic resonance imaging (MRI), without the need for manually labeled training data. The novel system, called CMR-CLIP, is d
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