UK-based Aldermore Bank has chosen Temenos Software-as-a-Service (SaaS) to upgrade its savings operations, beginning with the launch of new savings notice accounts for small businesses.
The bank will implement the Temenos Business & Corporate Enterprise Service to accelerate time to market and support scalable growth as it aims to expand customer deposits and diversify revenue streams.
The end-to-end business and corporate banking service will provide Aldermore Bank with pre-configured capabilities across core and digital banking, facilitating the rapid deployment of new products.
Following the introduction of the new savings accounts, Aldermore Bank plans to migrate its existing business savings accounts to the Temenos platform.
This move will consolidate multiple legacy systems into a single cloud-based solution, enhancing efficiency and maintaining high security standards.
Aldermore Bank, part of South Africa’s FirstRand Group, is a multi-specialist lending and savings provider with total assets of £20.5bn.
The bank focuses on serving customers who are underserved by mainstream providers, including small and medium enterprises (SMEs), homeowners, landlords, and intermediaries.
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.”
By adopting the Temenos Business & Corporate Enterprise Service, Aldermore Bank will gain access to advanced automation, enabling it to tailor banking services to customer needs.
The solution includes pre-packaged capabilities designed for the UK market, along with predefined user journeys and established processes, allowing the bank to swiftly roll out new services and scale operations in response to demand.
Temenos Europe managing director Mark Yamin-Ali said: “We’re delighted Aldermore has chosen Temenos SaaS to help drive its expansion of business savings. Aldermore prioritised both advanced technology and robust functionality, and Temenos was the only provider that met both needs.
“With pre-configured, proven capabilities tailored to the UK market and the small business sector, Temenos will help the bank to deliver a much faster time to market and increased efficiency as it looks to drive future growth.”
