UK-based Aldermore Bank has selected Temenos SaaS to modernise its savings operations, starting with the launch of new savings notice accounts for small businesses.
Aldermore Bank will adopt the Temenos Business & Corporate Enterprise Service in a move to achieve a fast time to market and scale more efficiently. Through this partnership, the bank hopes it can successfully grow customer deposits and unlock new sources of revenue.
Using Temenos’ end-to-end service for business and corporate banking, Aldermore will leverage pre-configured, proven capabilities across core and digital banking, to enable it to deploy its new product more quickly.
“This strategic technology investment will help us to rapidly expand our offering, providing more customer-centric solutions and exceptional experiences for the underserved small business market,” explained Alex Myers, commercial director for savings at Aldermore Bank. “With Temenos SaaS, we can launch new products in record time, with the agility to adapt to the changing needs of our customers.”
After launching its new products, Aldermore also plans to migrate its existing business savings accounts to Temenos, consolidating multiple legacy systems on a single, cloud-based solution with the highest security standards. This will enable the bank to increase efficiency and deliver exceptional experiences in line with its customer-centric business model.
Leveraging automation
Through its Business & Corporate Enterprise Service, Temenos hopes to offer Aldermore high levels of automation to easily configure banking services that meet the specific needs of its client base. Leveraging, pre-packaged capabilities tailored to the UK market, as well as pre-defined user journeys and proven processes, Aldermore will be able to quickly move these into production and scale according to customer demand on a proven, modern solution.
Mark Yamin-Ali, managing director, Europe, at Temenos, also commented: “We’re delighted Aldermore has chosen Temenos SaaS to help drive its expansion of business savings. Aldermore prioritised both advanced technology and robust functionality, and Temenos was the only provider that met both needs. With pre-configured, proven capabilities tailored to the UK market and the small business sector, Temenos will help the bank to deliver a much faster time to market and increased efficiency as it looks to drive future growth.”
Part of First Rand Group, the largest financial services group in Africa, Aldermore is a multi-specialist lending and savings provider with total assets of £20.5billion. The bank focuses on helping groups underserved by mainstream providers, particularly SMEs, homeowners, landlords and intermediaries.
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