SPD Bank and Temenos unveil innovation lab
Temenos has teamed with Shanghai Pudong Development Bank (SPD Bank) to establish an innovation lab in Shanghai.
With this initiative, the duo says they will jointly identify market requirements and co-develop a digital ecosystem, with Temenos providing the enabling technology platform. SPD Bank plans to use open APIs and work with third parties.
Temenos gets Shanghai-ed
The lab will allow the bank and Temenos to validate banking business scenarios, integrate solutions into SPD Bank’s production environment, and deploy new technologies.
Wei Dong Pan, executive director and VP, SPD Bank, says it selected Temenos as a partner “based on their 25 years of global experience in developing innovative banking software and for their strength of their partnership with fintechs”.
Temenos says its long-term partner RSI will participate in this initiative.
In addition, Temenos will use the lab to get Chinese fintechs into its Temenos Marketplace. This is a self-service online digital store that contains over 150 financial software products from more than 65 certified fintech partners, which are pre-integrated into Temenos’ software.
SPD Bank is a long-standing Temenos core banking client. By the end of June 2018, the bank had total assets of CNY 6.09 trillion ($869 billion). It operates a network of 41 branches and approximately 1,800 banking outlets inside and outside China. It employs more than 52,000 staff.
