Australian-based UFS selects Temenos for digital transformation

Temenos (SIX: TEMN), the banking software company, today announced it has signed a multi-year deal with Uniting Financial Services (UFS), a not-for-profit organization. With over $1.7 billion (AU) of funds under management, UFS provides treasury and ethical investment services to the Uniting Church in Australia’s Synod of NSW & the ACT including its Congregations, Presbyteries and various Church Agencies. Building on its long-standing partnership with Temenos, UFS will implement Temenos T24 Core Banking, Analytics, Channels, Financial Crime Mitigation and Risk and Compliance software, on Temenos Cloud to transform its customer experience and achieve operational efficiencies.

UFS will leverage Temenos’ global expertise and 25 years of experience in providing proven, packaged, upgradeable software. The Temenos model bank approach with built-in localization will enable UFS to keep abreast of the changing Australian regulatory requirements, and implement best business practices in a cost-effective manner.

Temenos was the first banking software provider to launch a cloud offering running on Microsoft Azure. Since 2011, Temenos software products have been available on the Temenos Cloud. The combination of Temenos’ leading packaged banking software and the agility, scalability and security of Temenos Cloud will provide UFS with an enhanced solution to meet the needs of its customers today and into the future.

Warren Bird, CEO of Uniting Financial Services, commented: “At UFS we are committed to evolving our services and solutions to best support the needs of our investors and borrowers. Investing in innovative, flexible and modern technologies, and working with key partners such as Temenos is an important part of this approach. Temenos’ Australian model bank approach offers a flexible and secure solution that meets our needs and will help us deliver a better experience to our members. We look forward to our continued collaboration with Temenos.”

Martin Frick, Managing Director, Asia-Pacific, Temenos, stated: “We are very excited to be building on our long-term partnership with UFS as it embarks on its digital transformation journey. Using Temenos software, UFS will be able to bring innovative products and services to market more quickly. With Open Banking poised to become a reality in Australia in 2019, we are seeing customers like UFS invest in digital transformation both to achieve operational excellence and improve customer service. Temenos serves more than 3,000 financial institutions globally, and it also maintains strong presence and local expertise. Temenos provides highly scalable, packaged banking software to suit any client needs, regardless of size and helps them transform faster. We look forward to working with UFS as it implements this exciting new platform.”