DXC Technology has signed an agreement with Temenos to help its global banking customers modernize their core banking technology. It will provide DXC’s large bank customers across the world, including 15 of the top US banks, with a cloud-native core banking solution.
Many large banks are having to contend with complex legacy technology stacks that can include multiple core capabilities, disparate systems and product silos. These banks are embarking on transformation projects to compete with fintechs and neobanks, whose agility allows them to rapidly launch differentiated products and attract new customers. DXC is an IT services provider and Temenos is a cloud-native banking software provider. The combination aims to provide customers with a modern core banking solution that is fully hosted and resilient.
Max Chuard, Temenos’ CEO, said in a statement: “This joint go-to-market strategy with DXC is a new channel to market for Temenos, which will accelerate our penetration in the large banks segment, notably with the US market, representing approximately 60% of the total third-party market spend. Together, we seek to help larger banks with complex, legacy IT architectures break down silos, reduce IT complexity and costs, and gain greater speed to market.”