TEMENOS
11.10.2021 08:32:08 CEST | Business Wire | Press release
Silicon Valley-based Mbanq, a Banking-as-a-Service (BaaS) provider and one of the world’s fastest growing FinTechs, today announced it has signed a strategic agreement with Temenos (SIX: TEMN), the open cloud banking company, to launch an innovative Credit-Union-as-a Service (CUaaS) offering, and to accelerate BaaS adoption across the US.
CUaaS is offered by Mbanq’s Credit Union Service Organization (CUSO) and will be powered by The Temenos Banking Cloud. This solution is a new end-to-end comprehensive service to help US Credit Unions of any size accelerate their digital transformation and deliver innovative digital financial services and outstanding experiences to members. Mbanq’s CUaaS combines Temenos’ modern cloud technology with operations, legal compliance and financial services solutions, wrapped into a single Credit Union ecosystem. The two companies are already engaged in customer acquisition and proof of concepts in the US with Credit Unions.
The US has over 5,000 credit unions with over 100 million members representing over $3.6 billion per year in technology spend. However, many credit unions are burdened by legacy systems unable to offer basic digital banking services such as digital onboarding, which emerged as a ‘must-have’ capability during the pandemic. Together, Mbanq and Temenos will offer rapid digital transformation so Credit Unions can deliver competitive financial services to their members through all touchpoints. This powerful combination will also reduce the time required to launch and operate a de novo Credit Union.
These capabilities will be powered by Temenos open cloud technology. The Temenos Banking Cloud, which combines Temenos Transact, Temenos Infinity and Lifecycle Management banking services, will connect via REST APIs to the Mbanq cloud platform.
Mbanq will also offer a fast-track solution based on Temenos’ technology to FinTechs and e-commerce firms wishing to embed banking services, such as payments and lending and broaden their portfolio of products rather than develop their own technology or go through the lengthy and costly process of obtaining a banking charter. Furthermore, Temenos will offer value-added BaaS capabilities to banks such as lending, Buy Now Pay Later (BNPL) or credit card services through Mbanq.
Max Chuard, CEO, Temenos said: “Following our strategy to accelerate the adoption of Banking-as-a-Service in Europe, we are now excited to expand in the US. With this strategic agreement with Mbanq, we are opening up a new channel to the BaaS space and are increasing our penetration in the US Credit Union market. Existing Temenos Credit Union clients will benefit from Credit Union-as-a Service to run their operations in a seamless and cost-effective way on modern cloud technology. Together with Mbanq, we can support Credit Union digital transformation, taking away the complexity of managing technology so they can focus on providing innovative banking services to members.”
More than 3,000 financial services institutions around the world leverage Temenos’ modern, open, cloud technology. The Temenos Banking Cloud enables financial institutions to consume, manage and maintain banking services in a secure, continually evolving, self-service platform while allowing them to develop new business models.
Vlad Lounegov, CEO, Mbanq, said: “We are delighted to partner with Temenos, the market-leading banking technology provider. Powered by The Temenos Banking Cloud, Mbanq takes to market a Credit Union-as-a-Service offering that automates every operational requirement a modern Credit Union needs. This game-changing partnership will drive our company’s growth and help regulated and unregulated entities transform their offerings, technology and customer experiences in the digital post-pandemic world.”
Mbanq CUSO prioritizes rapid digital transformation so Credit Unions can seamlessly deliver competitive financial services to members in niche markets through online and mobile channels.
– Ends –
About Mbanq
Mbanq is a Banking-as-a-Service (BaaS) provider and technology innovator and one of the world’s fastest growing FinTechs. It operates dozens of banks and Credit Unions across America and the world. Headquartered in Silicon Valley, Mbanq has 150 employees and offices and development centers around the world, including San Francisco, Singapore, Germany and Croatia. www.mbanq.com
Mbanq CUSO implements the first-in-the-world Credit Union-as-a-Service (CUaaS), a comprehensive technology and services ecosystem that provides everything a Credit Union needs in a unified manner. www.mbanq.com/cuaas
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/20211010005044/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
Falcon Is Sold for AED 2.1 Million (USD 571,000) in Abu Dhabi, Setting the World’s Highest Price Ever at Falcon Auction7.9.2026 02:07:00 CEST | Press release
A Gyr Pure Ultra White falcon achieved a record-breaking sale of AED 2.1 million (USD 571,000) at the final falcon auction of the Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX) 2026, making it the highest value a falcon has ever been auctioned for. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260906974005/en/ The Gyr Pure Ultra White falcon sold for AED 2.1 million (USD 571,000) at the final falcon auction of ADIHEX 2026 in Abu Dhabi. (Photo: AETOSWire) Held under the patronage of His Highness Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region and Chairman of the Emirates Falconers’ Club, ADIHEX 2026 is organised by ADNEC Group in strategic partnership with the Emirates Falconers’ Club. Bidders competed for the prized Gyr Pure Ultra White falcon, which originated from the United States, with the winning bid setting the highest price a falcon has ever been auctioned for. The Gy
Ant International Secures Payment Institution Licence from the Central Bank of Brazil4.9.2026 16:41:00 CEST | Press release
Expanding the company’s capability to support local partners with FinAI solutions Ant International, the leading global digital payment, digitisation, and FinAI solutions provider, today announced that it has received a Payment Institution (PI) licence from the Central Bank of Brazil. “With the Central Bank's invaluable support, we are ready to step up more reliable and comprehensive global payment and account services to enterprises, platforms and SMEs in the country's dynamic digital economy, in ever deeper collaboration with its highly developed payments ecosystem and financial services industry,” said Rodrigo Reif, General Manager, Ant International Brazil. Ant International provides cross-border payments and account services, embedded credit and treasury services, and other finAI and blockchain solutions to clients across Asia, Europe and the Americas. The company processes over 20 million transactions daily, connecting 2 billion consumer accounts to 150 million global merchants v
Bending Spoons completes the acquisition of Airtable4.9.2026 14:30:00 CEST | Press release
Bending Spoons S.p.A. (NASDAQ: BSP) has completed the previously announced acquisition of Airtable, the platform used by more than 500,000 organizations to reshape how teams organize data and manage critical workflows. “Airtable continues to grow because customers value its best-in-class flexibility,” said Luca Ferrari, Bending Spoons CEO and co-founder. “Teams can bring all their data, context, and AI agents together in one place, shape their workflows around their specific needs, and progressively expand their use of the platform over time. As we take the reins, our focus will be on sustaining that growth by investing heavily in Airtable’s product, customer support, and go-to-market capabilities.” “I’m proud of what the Airtable team has built and excited to see the business enter this next chapter,” said Howie Liu, co-founder of Airtable. “I’m confident Bending Spoons has the resources and long-term perspective to help Airtable continue delivering exceptional value to its customers
EQT to acquire McGill and Partners, a leading specialty (re)insurance broker for USD 2.0 billion, from Warburg Pincus4.9.2026 13:48:00 CEST | Press release
Warburg Pincus and McGill and Partners have reached an agreement with EQT that will see Warburg Pincus sell its majority stake to EQT McGill and Partners founders, management team and colleagues will re-invest alongside EQT, retaining a meaningful ownership stake in the firm going forward as they continue to serve clients globally Maintains commitment to firm’s independent model and culture of ownership, developed organically since its founding in 2019 EQT will partner with Steve McGill and the management team to accelerate organic growth, including via talent recruitment, further development of technology and data capabilities, and expansion of innovative digital solutions EQT and McGill and Partners are pleased to announce that EQT X ("EQT") has entered into a definitive agreement to acquire a majority stake in McGill and Partners from Warburg Pincus for USD 2.0bn. Founder and Chief Executive Officer Steve McGill will continue to lead the firm, while Chairman John Lloyd will remain a
A Race Is Never Won Alone: With La Tavolata, Barilla Brings the Paddock Family Together on the Monza Grid4.9.2026 12:18:00 CEST | Press release
A nearly 100-meter-long dinner table hosted more than 200 guests for an evening celebrating collaboration, trust and the bonds built beyond competition. On Thursday evening ahead of the Formula 1® Italian Grand Prix, Barilla transformed one of the sport’s fastest and most competitive environments into a place where the Paddock Family took center stage. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260902463001/en/ La Tavolata by Barilla on the starting grid of the Monza circuit. More than two hundred people gathered around a single table: drivers, Team Principals, mechanics, engineers, strategists, safety and medical car drivers, personal trainers, tire technicians. The individuals whose collaboration, precision and trust shape every race, every decision and every performance. A nearly 100-meter table set with plates and pasta. With the first-ever Tavolata organized by Barilla and F1, people from across the Formula 1® ecosy
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