New technologies in the banking sector

Bahwan Cyber Tek

Temenos and Bahwan Cyber Tek forge exclusive partnership to expand business reach across India, Sri Lanka, Nepal and Bhutan

STAFF REPORTER
Thimphu

On September 7, Temenos and Bahwan Cyber Tek (BCT), global digital transformation companies, announced the signing of an exclusive strategic agreement to scale Temenos’ operations in India, Sri Lanka, Nepal and Bhutan.

As part of the agreement, BCT will market, implement, and support all Temenos products and solutions in these countries. The agreement is exclusive for seven years, and signals Temenos’ commitment to long-term growth in the region.

As an exclusive sales and delivery partner, BCT will enable Temenos to expand its market coverage and deepen local expertise through BCT’s network of 4,000 product engineering and digital services practitioners and consultants.

Financial institutions in these countries will benefit from Temenos’ world-class banking platform and BCT’s global professional services and regional expertise.

The agreement provides Temenos with enhanced visibility on profitability and cash flow and will help Temenos accelerate business growth and sharpen customer focus in these four countries.

With BCT’s strong regional knowledge, deep financial services industry expertise and comprehensive services capabilities, banks in India, Sri Lanka, Nepal, and Bhutan will be able to move away from the constraints of their legacy systems and migrate to Temenos’ modern, open platform for composable banking.

They will benefit from accelerated modernization timelines, increased efficiency and scale in operations and greatly enhanced customer experiences.

Temenos

S. Durga Prasad, co-founder and director and group CEO, BCT, said: “We are pleased to forge this partnership with Temenos as it increases our visibility and reach in the banking industry. Our strong financial services offerings, deep regional expertise and services capability combined with the power of Temenos’ leading banking platform, places us in a strong position to drive digital transformation for banks and financial institutions.”

Meanwhile, Erich Gerber, president and chief revenue officer, Temenos, said,“We are excited to announce this exclusive agreement with BCT, which opens up our addressable market and accelerates our growth through new business opportunities in these geographies.”

He said banks will benefit from their significant research and development investment and innovation roadmap while BCT will bring world-class professional services and a wide range of complimentary technology to drive faster innovation, broader reach into these markets, and faster adoption of their open platform for composable banking.

“By joining forces with BCT, we will deliver more value to our clients empowering them to build new business models, new banking services and offer superior customer experiences,” he said. 

BCT is a global organization that develops, markets, implements and supports solutions in the areas of predictive analytics, digital supply chain management, risk management and digital experience analytics enabling rapid transformation, better customer engagement and state-of-the-art risk management.

Whereas, Temenos is the world’s leading open platform for composable banking serving more than 3,000 financial institutions in over 150 countries, helping them grow, scale, and build new banking services for state-of-the-art customer experiences.