UK-based Coventry Building Society has selected core banking platform from the Swiss banking software firm Temenos to meet its future savings and mortgages servicing requirements.
The new solution, Temenos T24 Core Banking platform, will enable the mortgage lenders to complete its front-to-back digital transformation.
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The building society has also opted for Temenos Channels, Financial Crime Mitigation and Temenos Payments Hub solutions.
Temenos stated that the new technologies will enable the mortgage lenders to roll out new products and services quickly.
Besides being able to offer digital services to members through online and mobile channels, the building society will be able to comply with the UK’s evolving regulatory requirements leveraging the Temenos model bank approach of delivering preconfigured country-specific functionality.
Coventry Building Society COO Peter Frost said: “We are delighted to appoint Temenos, which has a worldwide reputation for robust, innovative banking systems, as a key technology partner.
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By GlobalData“Temenos’ digital banking platform will help drive simplicity and efficiency, enable us to introduce new and innovative products more quickly and help reduce operational costs, as well as offer an enriched digital experience – all of which will enhance the value and quality of our services to members.”
