Temenos’ open banking platform will enable the Gibraltar bank to reimagine retail, corporate and private banking for the digital age

Temenos (SIX: TEMN), the banking software company, today announced that Trusted Novus Bank has selected Temenos for a complete end-to-end digital transformation. The Gibraltar bank will replace its legacy core and front office system with Temenos Transact and Temenos Infinity on The Temenos Banking Cloud. Temenos’ open banking platform will enable Trusted Novus Bank to reimagine its banking services for the digital era and scale efficiently to meet its goal to grow its customer base over the short to medium-term.

Trusted Novus Bank is a locally based full-service bank supporting the everyday banking needs of retail, corporate and private banking clients through branch, call center and digital channels. It is the oldest established bank in Gibraltar with a reputation for the provision of mixed services from under one roof. Under new ownership, the bank changed its name to Trusted Novus Bank in 2020 with a mandate to expand its overall business and dramatically improve the digital experience for customers.

With the power to self-provision banking services, a sandbox to create and test applications and a marketplace of pre-integrated fintech solutions on The Temenos Banking Cloud, Trusted Novus Bank can now create personalized, real-time customer experiences tailored to its different lines of business. Further, by improving straight-through-processing (STP) and automation, the bank will be able to dramatically free up employee time from administrative tasks and allow them to focus on value-adding, customer-facing activities.

Christian Bjørløw, CEO, Trusted Novus Bank, commented: “We chose Temenos because we needed a banking platform, built for the cloud and accessible via APIs, that would give us agility and flexibility to adapt to rapidly changing banking landscape. We want to expand our retail, corporate and private banking and scale fast to increase our customer base. With the Temenos Banking Cloud, we can deliver personalized, real-time customer experiences on a scalable platform that will foster innovation and keep the bank at the forefront of technology, and at the same time be true to our vision and values.”

Jean-Paul Mergeai, President – International Sales, Temenos, added: “We are proud Trusted Novus Bank has selected Temenos to power its digital transformation. This is a strategic project for Temenos, with Trusted Novus Bank joining the fast-growing community of leading banks to adopt Temenos’ open banking platform. With banking services powered by The Temenos Banking Cloud, Trusted Novus can dramatically reduce costs and turbocharge innovation to deliver outstanding customer experiences. Trusted Novus has exciting plans to extend its banking services on our platform, and we will be working closely to ensure rapid time to value.”