- With Temenos Infinity Micro Apps, banks can gain market traction by delivering seamless experiences at speed and ease and dramatically improving time to value
- With microapps, Temenos Infinity enables banks to offer human digital banking experiences tailored to specific customer needs and market segments
- Temenos Infinity is used by over 650 financial institutions helping them transform their customer experience and increase digital revenues by up to 5x
Temenos (SIX: TEMN), the banking software company, brings to market the next-generation in digital banking with Temenos Infinity Micro Apps. Temenos Infinity Micro Apps can now deliver packaged business capabilities (PBC), for banks to rapidly create tailored digital customer experiences by adding or removing functionality. This allows for shorter development cycles, targeted personalized experiences, accelerated innovation and dramatically faster time to market. Temenos Infinity is the leading digital banking platform used by over 650 financial institutions.
To find out more listen to 'Build a human banking Experiences with Infinity Micro Apps' session at TCF Online 2021.
Delivered as SaaS or on premise, Temenos Infinity Micro Apps focus on a single use case and encapsulate its functionality. This makes it much easier to add, remove, and configure the modules that make up Temenos Infinity, allowing banks to capitalize on the trend towards banking experiences targeted to specific demographics such as families, students or gig economy workers.
To increase customer engagement, banks need to modify and improve their mobile apps, and online front ends constantly. With Temenos Infinity Micro Apps, banks can provide a consistent experience across channels and hyper-personalize what customers see when visiting their online or mobile channels. A customer that holds both business and retail accounts, for example, could see everything in one place and have the power to move between business and retail banking within their app. With Temenos Infinity, banks can test the exact functionality and roll it out very quickly, and launch it to market when they need it.
Joaquin de Valenzuela Muley, SVP Global Business Line Director Infinity, said: "Banks understand that people crave simplicity in banking but the one size fits all approach doesn't work in digital. With Temenos Infinity Micro Apps we are transforming the banks' monolithic frontends into micro frontends. Giving banks the building blocks to create the ideal digital banking experiences at hyper-speed. With Temenos Infinity Micro Apps banks can target the right experience to the right customers. For example, a family app needs a different experience from private banking app or one for business owners."
Bola Rotibi, Research Direct, CCS Insight, said: "Banks need solutions based on microapps instead of monolithic structures to make it easier and quicker to create new features and services. Leading providers of banking software such as Temenos with its Temenos Infinity Micro Apps are well positioned to help banks evolve their digital strategy by making it easier to pull new capabilities into their existing digital banking platforms. Such solutions help banks improve business agility through faster, user-friendly and iterative delivery of updates and new features."
With Temenos Infinity Micro Apps architecture, banks can:
- Build compelling customer applications: Banks can build their own tailored digital experiences from 'the ground up' using Temenos Infinity Micro Apps as building blocks. They can use the Temenos Infinity Micro Apps as accelerators to add new functionality.
- Simplify the configuration of Temenos Infinity: Temenos Infinity for Retail Banking includes a tremendous amount of functionality. With this new approach, banks can easily remove or disable the Micro Apps they don't need. The cross dependencies between Micro Apps are well defined, so it is clear how the user experience and functionality of the packaged app will change by removing the Micro App.
- Benefit from faster updates and easily add functionality: The Micro Apps architecture makes it quicker for banks to deliver their applications and progressively enhance their digital customer experience. For example, a bank may be interested in using the Money Transfer functionality from Temenos Infinity Online Banking. If the bank is already using an earlier version of the Money Transfer Micro App, they can simply update just the one Micro App. This significantly reduces the update and testing time. If the bank does not have that functionality, it can choose just to import the one Micro App into its existing Temenos Infinity solution.
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/20210714005714/en/
Contacts:
Jessica Wolfe Scott Rowe
Temenos Global Public Relations
Tel: +1 610 232 2793 +44 20 7423 3857
Email: press@temenos.com
Alistair Kellie Andrew Adie
Newgate Communications on behalf of Temenos
Tel: +44 20 7680 6550
Email: allnewgatetemenos@newgatecomms.com
