Max Chuard

Judo Bank, the first SME focused bank operating in Australia, today announced that it has gone live in record time with Temenos T24 Transact, Analytics, Financial Crime Mitigation and Channels – a module of Temenos Infinity – running on Temenos Cloud.

Judo Bank, which last year achieved the second largest pre-revenue fundraising round in Australian start-up history (AUD140m), runs on Temenos Cloud hosted on Microsoft Azure.

Judo Bank’s ‘judo strategy’ outmaneuvers the incumbent banks by using the nimbleness of its modern technology to rejuvenate the dying craft of artisan business lending.

Judo Bank has built a system that enables traditional relationship banking backed by modern, legacy-free technology, processes and systems. Lending decisions are based on the performance of the business; not just the value of the available security, or “collateral” that the incumbent banks concentrate on.

The implementation took place in record time due to the speed, elasticity and flexibility offered by the cloud, allowing Judo Bank to focus on supporting businesses across Australia rather than managing IT systems.

Leveraging advanced API-first architecture, Temenos T24 Transact has integrated with Judo’s existing systems via its zero-trust-network and identity management system, allowing third-parties to connect easily and creating an open banking ecosystem.

Temenos assisted Judo in obtaining a full banking license with the Australian Prudential Regulation Authority (APRA) through its Australian Model Bank approach, with preconfigured country-specific functionality, allowing Judo to focus on its business in the knowledge that local regulatory requirements, business best practices and cost-efficient processes were already built-in.

Alex Twigg, Co-Founder and CIO, Judo Bank said: “We selected Temenos as our strategic technology partner to help us with our goal to become the most trusted business bank in Australia. Temenos worked closely with us from the beginning, and with its cloud-native digital front and back office products enabled us to launch fast and with a low risk implementation. This allows us to cut through traditional bureaucracies and the sales-driven and property-secured status quo to transform SME banking in Australia through a focus on close customer relationships.”

Max Chuard, Chief Executive Officer, Temenos, said: “We worked closely with Judo Bank’s agile and passionate team to go live in record time. The pace of regulatory change in Australia combined with transformational cloud-native banking software – Temenos Infinity and Temenos Transact – has made new business models possible, and Judo’s customers are the ultimate winners. We are proud to be partnering with Judo to re-shape the Australian banking landscape.”

Janet Lewis, vice president, Worldwide Financial Services at Microsoft Corp. said: “Through our relationship with Temenos – which was the first banking software company to launch a core banking offering on Microsoft Azure in 2011 – Judo Bank is challenging the conventional SME banking experience. Judo is benefitting from high levels of performance and scalability along with the security, privacy and compliance offered by operating in the cloud.”

Temenos recently reached a major milestone with the launch of Temenos Infinity – a breakthrough digital front office product and Temenos T24 Transact, the next generation in core banking. These new products further demonstrate a commitment to constant innovation with the most advanced cloud-native, cloud-agnostic, API-first technology and design-led thinking.

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Temenos, the banking software company, yesterday announced that ABN Amro has selected Temenos Continuous Deployment, which utilizes DevOps principles and extends the Temenos DevOps operations into the banks environments, to accelerate the bank’s speed of software delivery and rapidly launch new competitive innovations to the market.

With 22 innovation teams within the Investment and Corporate Banking division of ABN Amro using Temenos Continuous Deployment to support their agile development methodologies, the bank will be able to bring business change more rapidly and securely to market. Using Temenos Continuous Deployment, this repeatable process will be dramatically faster and more flexible and is expected to increase efficiency in early stage testing and deployment by more than 30%.Temenos Continuous Deployment is provided by Temenos as a Service (SaaS) while reducing cost of deployment.

Friso Westra, Head of IT Development Core Banking International at ABN Amro will be joining Max Chuard, CEO of Temenos on the opening plenary session at TCF to talk about using Continuous Deployment to accelerate innovation.

The banking group, one of the largest in the Netherlands and a longstanding customer of Temenos, is now taking advantage of the Temenos Continuous Deployment offering to enable developer teams to quickly and independently develop, test and deploy change including configuration and extension code in a safe, secure and reliable automated environment. ABN Amro will be able to provision a new environment to build and test its innovations in just hours. The number of deploy and test pipelines per day is expected to increase from 1 to 15 per day. The bank also envisages being able to increase test cycles by 100x, the increase in testing will result in higher quality, more frequent automated releases.

By enabling a “code in the morning, deploy in the afternoon” approach, the time required to develop, test and release software changes is reduced from weeks to days or hours, enabling the bank to rapidly deploy change in a safe and controlled manner. Temenos Continuous Deployment offers a self-service environment where the project team can simply and quickly request on-demand the creation and provisioning of production-like environments based on the bank’s configuration. It allows automated testing and deployment of software changes from both the bank, and from Temenos, in a regular and predictable way.

ABN Amro first implemented the Temenos T24 core banking platform – the forerunner to Temenos T24 Transact – for its corporate banking activities in 2009, Temenos Payments Hub in 2012 and Temenos WealthSuite for its international private banking business in 2015

Friso Westra, Head of IT Development Core Banking International of ABN Amro said: “Thanks to Temenos’ innovative continuous-deployment product, we can gain greater product agility and improved time-to-value, accelerating the speed of innovation and making business changes rapidly. Temenos Continuous Deployment is to provide high levels of automation to support our agile development approach. Continuous Deployment will allow our developers to focus more time on the value of their deliverables spending less time coordinating testing and deployment with other teams.”

Max Chuard, Chief Executive Officer, Temenos, said: “I’m delighted that ABN Amro, a long standing customer, has now selected our Temenos Continuous Deployment SaaS product, as the bank is leading with DevOps tools and methodologies to accelerate its speed of software delivery and business innovation. We are entering a new era of banking where cloud-native, cloud-agnostic and advanced open API technologies are enabling the bank to dramatically reduce deployment time and as result massively cut down costs.”

Temenos is also launching a dedicated Deployment Centre of Excellence drawing on best practices from over 1000 go-lives and utilizing new tools, agile processes and methodologies to dramatically reduce the cost of deployment. This Centre of Excellence will help banks to industrialize the banking software deployments, with lower costs and faster time to market. Temenos has also launched a new implementation approach, Build and Renovate, that enables the larger banks to quickly build a new, fully digital stack, and to begin continuously migrating products and customers across from their legacy stack.

Temenos recently marked a major milestone with the launch of Temenos Infinity – a breakthrough digital front office product – and Temenos T24 Transact, the next generation in core banking. These new products further demonstrate a commitment to constant innovation, leveraging 25 years of functionality from 3,000 banks in more than 150 countries with the most advanced cloud-native, cloud-agnostic, API-first technology and design-led thinking.

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