Temenos Country Model Banks set for European expansion with Orion licence agreement
Swiss banking vendor Temenos has tasked its multi-regional delivery partner Orion Innovation with licensing and developing Temenos Country Model Banks for financial institutions in Ireland, Bulgaria, Hungary and Slovakia.
Orion to license Temenos Country Model Banks
Temenos Country Model Banks deploys the vendor’s packaged model bank framework, including its composable platform and Software-as-a-Service (SaaS) offerings on Temenos Banking Cloud, to enable financial institutions to “comply with local regulations and business practices at a lower cost”.
The agreement between Temenos and Orion is poised to generate “new opportunities for growth with enhanced local functionality and service capability” for the offering.
Orion is set to invest in and develop the offering’s regulatory and business-specific localised functionality, with the aim of reducing the cost of ownership and increasing agility and speed to market.
Ross Mallace, EVP and global head of SaaS and partner ecosystem at Temenos, says the deal “opens new opportunities” for financial institutions operating within the four target counties, and that Orion is poised to “help customers in their progressive technology renovation”.
Adding to this, Orion’s EVP and global head of financial services, Anoop Gala, describes the licence agreement as “a testament to our capabilities as a long-standing partner of Temenos, expertise with modern platform architectures and our deep knowledge of local market practices and regulations”.
“With a strong presence in the European bloc with over 2,000 resources in the region, Orion is well placed to support the needs of our key client partners as they scale and optimise their businesses on the Temenos banking platform,” adds Gala.
Orion specialises in implementation services for Temenos’ core banking and digital banking solutions, and currently operates delivery centres situated in Bulgaria, Romania and Serbia, while maintaining regional offices in London and Dublin.
