Tech firms form core banking alliance

Swiss core banking vendor Temenos has inked a commercial and technology agreement with US giant Microsoft.wiss core banking vendor Temenos has inked a commercial and technology agreement with US giant Microsoft.

The deal will see the two firms push Temenos's flagship T24 system alongside the Microsoft SQL Server platform, which provides data management and business intelligence. The pair say they have committed technical, marketing and sales resources to the partnership to bring a "flexible, high-performance and reliable core banking solution to market, which fully optimises the use of the Microsoft platform with T24".
Temenos says it has seen strong demand for the Microsoft platform recently, with 21 banks selecting its Insight BI suite, which taps SQL Server, since March 2009. By combining the two systems, Temenos says banks can improve operational efficiencies, making it easier to roll out new products and services. Susan Hauser, VP, worldwide financial services, Microsoft, says, "Our alliance with Temenos provides our largest financial services customers a cost-effective platform on which they can build future-generation processing capabilities that meet the evolving demands of their business."