Temenos covets cloud cover with NuoDB investment
The eyes of Temenos have turned to cloud capabilities via a minority investment in distributed SQL database provider NuoDB.
Financial details were not disclosed
Financial details were not disclosed. Along with the stake, the banking software company has entered into a technology partner agreement with Massachusetts-based NuoDB, giving its customers a “greater choice” of cloud and container-native database technologies that are able to run the Temenos banking software products. Its T24 core banking system gets a lot of attention.
Max Chuard, chief operating and financial officer of Temenos, comments: “Our partnership with NuoDB is strategic and strengthens our commitment to ensuring that our banking clients running Temenos software benefit from scale-out simplicity, elasticity and continuous availability and that they can ultimately maximise the benefits of their shift to the cloud”
Temenos points out that banks of all sizes around the globe are migrating more of their banking applications to the cloud. Hard to disagree with that as the number of cloud stories – for all vendors – is high.
The firm has been a busy bunny this year. Too much to mention, but earlier this month it teamed with Shanghai Pudong Development Bank (SPD Bank) to establish an innovation lab in Shanghai.
NuoDB was founded in 2008 as NimbusDB and changed its name in 2011. Some of its clients include Dassault Systèmes and UAE Exchange.
