Virgin Cash Australia, a part of the Financial institution of Queensland, has gone dwell on Temenos and its Banking Cloud product.
The financial institution goals to disrupt the Australian market with companies for millennials centered on simplicity. It initially picked Temenos in March 2020.
Temenos says the financial institution has created “a frictionless and totally built-in digital banking expertise”.
That have is a mix of bank cards, transaction and financial savings accounts, a loyalty program and private monetary administration instruments.
Temenos says its Banking Cloud will give Virgin Cash “complete management” to deploy and configure banking companies.
Utilizing open APIs, the financial institution may also collaborate and lengthen its banking companies with different fintechs and builders.
Banking Cloud combines the Temenos Infinity buyer onboarding banking service and the Temenos Transact core banking system.
Accomplice purposes for bank card administration and funds join by way of an API framework and real-time occasion structure.
“With Temenos, we intention to set the brand new commonplace for Australian banking-customer relationships,” says Greg Boyle, CEO at Virgin Cash Australia.
“The Temenos Banking cloud makes it simpler to combine with third events and we have now an agile platform that simply scales up or down relying on enterprise calls for.”
Virgin Cash Australia is a part of a large Financial institution of Queensland portfolio that the latter makes use of to try to meet up with the nation’s “Massive 4” lenders.
Earlier this yr the financial institution put aside AUD 1 billion for the acquisition of digital lender ME Financial institution.
“It’s unbelievable what Virgin Cash Australia has achieved in such a brief timeframe,” says Temenos CEO, Max Chuard.
“The tempo of innovation displays the eagerness and dedication of the Virgin Cash staff and reveals what is feasible with an agile cloud-based resolution.”
Different Australian customers of Temenos’ know-how embody Judo Capital and Volt.
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