Temenos has signed an agreement with Orion to grant the latter with license for its Country Model Banks for financial institutions in Ireland, Bulgaria, Hungary, and Slovakia.
Orion, which is a digital transformation and product development services firm, will also further develop the Country Model Banks.
According to Temenos, the engagement with Orion will unleash new growth opportunities with improved local functionality and service capability in the four markets.
Temenos executive vice president and SaaS and partner ecosystem global head Ross Mallace said: “We are excited to announce this agreement with Orion, which supports the growth plans and opens new opportunities with financial institutions in Ireland, Bulgaria, Hungary and Slovakia.
”Orion will become a trusted partner for the development and maintenance of Country Model Banks for these countries and help customers in their progressive technology renovation.”
Through the licensing agreement, the Swiss banking software provider aims to advance and build new model banks compatible with the banking solutions on its composable platform and software as a service (SaaS) offerings on Temenos Banking Cloud.
Orion will significantly invest and develop regulatory and business-specific localised functionality to further bolster the Temenos Model Banks for financial organisations in the four countries.
This is expected to lead to a reduced ownership costs, enhanced agility, and accelerated time-to-market for new offerings in these markets.
Orion executive vice president and financial services global head Anoop Gala said: “This agreement is a testament to our capabilities as a long-standing partner of Temenos, expertise with modern platform architectures and our deep knowledge of local market practices and regulations.
”With a strong presence in the European bloc with over 2,000 resources in the region, Orion is well placed to support the needs of our key client partners as they scale and optimise their businesses on the Temenos banking platform.”
Both parties share long-established relationships with customers in Europe.
All clients will get the opportunity to work with Orion and Temenos to improve the model banks and provide input to the product roadmap, as per the Swiss firm.
