Temenos Banking Cloud Scales to Record High Transaction Volumes and achieves world-class efficiency
Temenos (SIX: TEMN) today published its high-water benchmark performance results for Temenos Banking Cloud on Amazon Web Services (AWS). The benchmark of 100 million customers and 200 million deposit accounts with 100,000 transactions per second and up to 61 transactions per second per core on AWS underscores Temenos’ leaner and greener architecture. The benchmark breaks every scale record, helping banks scale efficiently and lower carbon emissions.
Temenos Banking Cloud has doubled its performance compared to the 2019 benchmark, proving the scalable performance of Temenos open platform with the capacity to process the entire world’s banking transaction volumes on a single cloud environment.
This improvement in TPS per core also shows the Temenos platform on the cloud is up to 4.1x times more efficient than before, which allows banks to lower their carbon emissions. The TPS of 61 per core now matches the performance and scale of mainframe-based systems but using public cloud at a fraction of the cost. Temenos also reduces mainframe cost to commodity hardware levels, presenting a best of both worlds scenario to its bank clients.
According to the recent Capgemini 2021 World Payments Report, non-cash transactions are expected to grow globally at 18.6% CAGR (2020-2025), driven by next-generation payments like BNPL, invisible and biometric propositions. With volumes expected to reach 1.8 trillion by the end of 2025, banks and embedded finance providers will need IT architectures that can scale at a fraction of the cost to succeed in the new era.
Temenos is presenting its scalable open platform for composable banking at its flagship event, Temenos Community Forum (TCF 2022), in London, on May 17-19.
Temenos cloud architecture elastically scales, automatically enabling banks to process higher volumes of transactions with 10x less infrastructure compared to traditional on-premise deployments and corresponding reduction in cost. By running on AWS, Temenos Banking Cloud can help banks reduce their carbon footprint. Research across several geographic regions shows moving on-premise workloads to AWS can lower the workload carbon footprint by nearly 80% and up to 96% once AWS is powered with 100% renewable energy, by 2025.
John Kain, Head of Financial Services Market Development, Amazon Web Services, said: “Banks are increasingly realizing the benefits of cloud to remain agile and meet the demands of a constantly evolving industry. Leveraging AWS’s reliable, flexible, and scalable global infrastructure, Temenos can get the best performance and most value out of its banking cloud services, enabling thousands of the world’s leading financial srvices organizations to transact at a faster rate than previously possible.”
Bola Rotibi, Research Director, CCS Insight, said: “Global non-cash transaction volumes are skyrocketing in response to fast-emerging trends like Banking-as-a-service (BaaS) and Buy Now Pay Later (BNPL). Automated flexibility and scale provide the adaptable control required to effectively support such growing demands. The benchmark demonstrates that Temenos Banking Cloud can elastically scale up and down based on business demand, providing composable capabilities on-demand at a low cost supported by automatic scaling while reducing the overall environmental impact.”
Tony Coleman, Chief Technology Officer, Temenos, said: “The benchmark results on AWS prove the scalability, efficiency resilience and best in class latency of our open platform for composable banking, which can successfully support emerging banking business models such as Banking-as-a-Service as well as traditional banks with even hundreds of millions of accounts. Not only that we can scale to handle the volume demands of the largest global banks, but we also deliver a leaner and greener infrastructure, helping them achieve their environmental goals. Together with AWS, our cloud-native composable architecture can support the highest volumes of transactions and operational requirements of any bank in the world.”
The benchmark proves that Temenos Banking Cloud running on AWS and using database technology from MongoDB and Yugabyte enables banks to harness the power of the cloud and benefit from speed, scalability, resilience and innovation. The benchmark tested Temenos composable Banking Capabilities including Demand Deposit Accounts and Loans. Temenos Banking Services include BNPL, Challenger Bank, Retail Lending, Payment Fraud Mitigation, KYC Customer Risk Assessment, Digital Mortgages and Demand Deposits Accounts.