The bank will implement the Temenos Business & Corporate Enterprise Service. Credit: T. Schneider/Shutterstock.

Aldermore Bank, a UK-based financial institution, has chosen Temenos SaaS to modernise its savings operations, with an initial focus on launching new savings notice accounts for small businesses.

The bank plans to implement the Temenos Business & Corporate Enterprise Service.

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By utilising the technology provider’s “end-to-end” services for business and corporate banking, Aldermore anticipates a quick deployment of its new offerings.

This is intended to support the bank’s plan to expand customer deposits and open additional revenue streams.

Temenos Europe managing director Mark Yamin-Ali said: “This strategic technology investment will help us to rapidly expand our offering, providing more customer-centric solutions and exceptional experiences for the underserved small business market.

“With Temenos SaaS, we can launch new products in record time, with the agility to adapt to the changing needs of our customers.”

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Besides, Aldermore plans to transition its existing business savings accounts to the Temenos platform.

This move will replace several legacy systems with a unified, cloud-based solution, which according to Temenos, adheres to the highest security protocols.

Aldermore Bank savings commercial director Alex Myers said: “This strategic technology investment will help us to rapidly expand our offering, providing more customer-centric solutions and exceptional experiences for the underserved small business market.

“With Temenos SaaS, we can launch new products in record time, with the agility to adapt to the changing needs of our customers.”

With assets totalling £20.5bn ($25.5bn), the bank specialises in providing services to SMEs, homeowners, landlords, and intermediaries.

Last month, Romania’s state-owned lender CEC Bank selected Temenos to modernise its core banking for retail and corporate operations, integrating advanced payments and data analytics solutions.