Cognizant and Temenos Expand Partnership to Power Core Banking Transformation in Australia

Cognizant (Nasdaq: CTSH) announced a five-year strategic engagement with Temenos, a global banking technology leader, to develop and market Temenos Country Model Bank in Australia. Temenos Country Model Bank is an extension of its core banking platform designed to accelerate go-live for financial institutions by providing pre-configured, regionalized banking functionality that reduces cost and risk. Australian financial institutions face increasing regulatory complexities and legacy system inefficiencies that limit agility. By leveraging Temenos’ cloud-native banking solutions and Cognizant’s implementation and market expertise, the Temenos Country Model Bank provides pre-configured frameworks designed to accelerate modernization while reducing costs and operational friction. As the preferred upgrade partner for Australia, Cognizant aims to further develop the regionalized functionality of the Country Model Bank, tailoring the core banking platform to meet the needs of Australian financial institutions. “We are delighted to collaborate with Cognizant, strengthening our commitment to delivering agile and future-ready banking solutions in Australia,” said Will Dale, Managing Director – APAC, Temenos. “Together, we are driving digital transformation that enhances efficiency and scalability for financial institutions.” Key highlights of strategic engagement:

• Cloud-Native Banking Modernization: Cloud migration designed to enhance security, scalability, and performance for Australian banks. Near seamless platform updates reduce downtime and improve banking reliability.
• Comprehensive Temenos Software Delivery: Cognizant delivers end-to-end implementations, providing consulting, integration, upgrades, maintenance, and support. Leveraging its deep expertise across Temenos Core, Digital, Payments, Financial Crime Management, and Wealth Management solutions, Cognizant aims to drive efficient transformation.
• Market-Ready Core Banking Solutions: Pre-configured framework helps support banks to meet Australian financial industry requirements, reducing complexity. Cost-effective, streamlined banking modernization solutions help minimize operational burdens while enhancing financial accuracy.

Archana Ramanakumar, Global Head of Industry Solutions at Cognizant, emphasized the strategic significance of this initiative, reinforcing over 15 years of global partnership with Temenos. She said, “We are thrilled to expand our collaboration with Temenos to advance our shared commitment to this very strategic market. Together, Cognizant and Temenos will bring decades of global expertise, insights from leading core modernization programs, and industry-proven methodology to the Australian financial services sector, helping enable financial institutions to achieve their target digital operating model. This will be a true game-changer for Australian financial institutions that are on their digital transformation journey, delivering a pre-integrated, market-ready solution that aims to significantly reduce risk in core modernization initiatives.” “The expansion of our strategic engagement with Temenos is set to accelerate banking innovation in Australia, integrating emerging technologies into core banking operations,” said Rob Marchiori, Australia Country Manager at Cognizant. “Not only will this relationship add value for existing Temenos clients through product innovation and engineering, it is also expected to create new opportunities aligning with our strategic priority of building our banking solutions and portfolio in Australia.”