On Thursday, banking software Temenos announced the launch of Temenos Origination, which is described as a component-based platform that enables banks to onboard customers and originates products across all segments, channels and devices, offering bank customers a frictionless and contextualized digital experience.
According to Temenos, the Temenos Origination platform is integrated with Temenos T24 Core Banking and available on Temenos Front Office Suite. It provides banks with a digital front office on a proven platform that can be rapidly deployed as part of a front office- led progressive renovation program, or a full front to back core platform replacement or as a standalone solution. While sharing more details about the new platform, Adrian Hadley, Core Banking Product Director, Temenos, stated:
“Temenos Origination represents a new approach to the origination and onboarding challenge in the digital age. Structured around customer needs rather than the bank’s products, it provides a componentized and flexible solution for building and maintain compelling customer origination and onboarding journeys. It is available for use on any core banking solution but there are specific advantages when used with Temenos’ own T24 core banking due to a seamless interface between the front and back office via a single product catalogue and a common set of product services enabling the greatest agility and the highest levels of efficiency. Temenos Origination shares the same proven and trusted technology, architecture and upgrade strategy with Temenos’ core banking, leveraging the creativity of Temenos’ 3000 strong client community and unrivalled levels of investment in R&D.”
Temenos Origination offers the following:
- Rapid time to market for all products: Defined and maintained in a central catalog that provides both servicing and marketing definitions for products. Products are defined once via Temenos’ graphical product builder creating a single product catalog that is used for both core banking, and origination.
- Needs-based recommendations: Fully auditable and GDPR compliant from first enquiry to account closure, based on the reuse of common product parameters, calculations, and scheduling algorithms
- Personalized pricing: Based on customer relationships and delivering a unique price for each customer at every stage of the application
- An omni-channel experience: Customers and bank staff can move between channels and devices without any loss of data
- A built-in workflow: Tool or the ability to use any third party tooling as the solution is workflow agnostic. This helps move control from IT to the business
- Maximum reuse and zero duplication of data: Through shared master data, which is synchronized automatically with and between applications
- The lowest TCO and maximum operational efficiency: Eliminates complex front- to- back office interfaces