Temenos Launches Volt Bank Cloud Platform
Banking software and cloud vendor Temenos has scored its latest win in the fintech space, delivering on a contract with Australian digital bank, Volt. Founded in 2017, the bank first entered a partnership with Temenos earlier this year. The vendor was selected for its technological expertise in the banking sector. Volt has now gone live with Temenos T24 Core Banking, Financial Crime Mitigation and Analytics on Temenos Cloud.
The bank, configured on Temenos’ T24 core banking software and operating on Temenos Cloud, makes use of the Temenos model bank approach, a pre-configured country-specific functionality that has helped Volt meet obligations of the local market and Australian regulations.
Martin Frick, managing director, APAC, Temenos, said, “By combining our Australian Model Bank functionality with the latest cloud technology, we were able to rapidly deploy a next generation banking solution for Volt Bank which will enable the bank to deliver innovative experiences that challenge the status quo.”
Along with Temenos cloud, Volt uses cloud technology from Microsoft Azure. The bank’s API architecture will likely bean advantage once Australian open banking regulations come into force in 2019.