Canada’s CWB Financial Group has partnered with Temenos to improve digital banking experience for its SME customers.

CWB has selected Temenos’ Data Lake with Explainable AI (XAI) capabilities to serve its core business-owner clients.

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The solution, in combination with Temenos Infinity, will also help the Canadian financial group in delivering AI-driven insights.

With Temenos Infinity, CWB also seeks to expedite account opening process. Additionally, it will help in improving the availability of its online deposit and cash management products.

The launch of a small business banking platform in fiscal 2021 is also in the pipeline.

CWB Financial Group president and CEO Chris Fowler said: “This breakthrough financial technology represents a critical step forward to meet the rapidly changing needs of our clients through a full range of channels, and we’re excited to hit the ground running with work commencing on our digital onboarding solution effective immediately.”

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Temenos CEO Max Chuard said: “The powerful combination of Temenos Infinity, Temenos T24 Transact and Temenos Data Lake positions CWB to gain leading customer acquisition capabilities, deep insights into their clients and unprecedented speed and agility.”

Headquartered in Switzerland, Temenos specialises in delivering banking software and technology services.

Earlier this month, Egypt’s ENPO selected Temenos to support its digital transformation. In October, Consolidated Bank Ghana contracted the Swiss software developer to power retail and corporate banking services.