A recent community forum by Temenos, led by CEO David Arnott, gathered banking professionals from around the world to discuss the importance of digital transformation. The event was themed ‚Digital to the Core.‘ While discussing the need for banks to adopt new technologies and business models, Arnott pointed out that traditional institutions are ignoring existing data, which is easily accessible to hackers. The industry is undergoing a seismic shift towards an open API-based ecosystem, and new entrants and regulation are driving this shift. Those who participate in the forum will benefit from a detailed description of the benefits of this paradigm.
For banks to fully realize the benefits of digital transformation, they must have a front-to-back solution. This is why Temenos is focused on providing a complete end-to-end platform. It supports true engagement strategy by extending personalisation and contextualisation to the back-end. Further, Temenos‘ platform is digital at its core, which enables total transformation.
A front-to-back solution is the key to true digital banking. According to Arnott, a front-to-back solution is crucial for an integrated approach. Temenos aims to achieve this by supporting an engagement strategy that extends beyond content and context. Its platform is digital at its core, and allows banks to transform their entire business into a modern one. A digital-first approach will lead to a more personalised and rewarding financial experience.
Digital transformation is crucial to banking’s future success. And Temenos‘ retail banking solution reflects the company’s focus on enabling a customer-centered experience. By making banking more customer-centric, Temenos is helping banks reach a new generation of consumers. And a front-to-back platform makes for a more holistic transformation. The company invests 20% of its revenues in R&D, which means that it can deliver 10x the savings of an on-premise solution.
The technology that banks need to adopt to stay competitive must be a front-to-back solution. The latter will enable banks to reach their digital banking customers. A back-to-front solution will give them the best opportunity to achieve total transformation. For this reason, Temenos‘ retail banking solution will be crucial for banks. The bank’s new customers will want to interact with the bank using the most convenient channels possible.
The company has a front-to-back solution that enables banks to leverage its customer-centric approach to digital engagement. The company’s omnichannel solutions will empower retail banks to deliver their services to their customers across all channels. They will allow their staff to communicate with customers in their preferred language and on their favorite devices. Further, Temenos‘ Front Office will also make it possible for them to create a dynamic single-experience platform.