Temenos accelerates SaaS-based Temenos Infinity, integrating Kony's award-winning digital banking product, just 30 days after the Kony acquisition

LAS VEGAS, Oct. 29, 2019 /PRNewswire-PRWeb/ -- Temenos (SIX: TEMN), the banking software company, showcases Temenos Infinity, the leading omnichannel digital banking product covering customer engagement from acquisition, to account servicing, through to long-term retention. Just a month after its acquisition of Kony, the No.1 US digital SaaS company, Temenos has integrated Kony's dynamic digital banking user experience into Temenos Infinity, helping banks deliver compelling user engagement throughout the customer lifecycle. Temenos Infinity with its deep analytics is the leader in driving customer acquisition and digital banking engagement and enables banks to increase digital revenues 5x and cut customer onboarding time by 75%. Built on a microservices architecture, Temenos Infinity is the most open and agile SaaS product allowing banks to continuously extend and expand their solution for all or portions of the customer lifecycle.

Temenos Infinity is connected to all major international and US core banking systems as well as Temenos T24 Transact. With over 600 banking clients including blue-chip names such as HSBC, Itau Unibanco and Regions, Temenos Infinity enables banks to offer an unrivalled customer experience across their customer's entire banking lifecycle. Temenos Infinity has been recognized as being a leader by top analyst houses such as Forrester, Gartner, Ovum and IDC.

Delivered as an omnichannel distribution service, Temenos Infinity removes the complexity of integrating the digital banking service with multiple back office systems. Temenos Infinity delivers seamless, compelling customer interactions through an ecosystem of cross industry fintech providers allowing banks to offer an omnichannel experience including advanced interfaces such as conversational banking and wearables. Distribution services in Temenos Infinity are individualized through artificial intelligence and machine learning capabilities, such as AI-driven credit scoring with full explainability of credit decisions, giving banks a significant competitive advantage and differentiation in their products and services. Temenos Infinity can be deployed in weeks rather than months and is available on premise, as a SaaS offering, or in the cloud via Microsoft Azure, AWS and Google Cloud.

At Money 20/20, Temenos will be presenting the demo of Temenos Infinity for retail banks as the first of its existing banking sector apps to feature the new Kony-based user experience. Please visit booth #2737 at Money 20/20 to see a demo of the product, immediately available to banks and credit unions of all sizes worldwide.

Banks using Temenos Infinity have successfully increased prospect to customer conversion rates to over 65%, far greater than industry average of 30%. Temenos Infinity now includes advanced behavioral analytics to optimize customer acquisition and personalize cross-sell offers. Its detailed analysis of the acquisition process identifies customer bottlenecks which are accessible to rapid change, allowing a 39% reduction in abandonment within weeks. The streamlined process has delivered fully functional, funded deposit accounts in as little as three minutes.

To optimize customer engagement, Temenos Infinity offers Engage, a feature that gives customers a personal digital communications channel to reach trusted advisors within the bank. Engage improves customer service, creating 1:1 customer relationships, and resulting in revenue increases of over $400 annually per customer.

Darryl Proctor, Product Director, Digital, Temenos, said: "The breadth of Temenos Infinity is unique as it now covers the entire retail customer's banking lifecycle, helping banks offer unmatched digital experiences to their customers. Temenos Infinity can help banks increase customer acquisition and deposits to drive lending and revenue opportunities throughout the bank. In a month since the Kony acquisition, the development talent from both companies have added a significant amount of exciting functionality and ease of generating customer journeys and experiences that will provide banks in both North America and internationally with an unrivalled customer experience and omnichannel banking product. Best in class digital banking, just got better!"

Temenos Infinity covers all banking verticals, including retail, small business, corporate and wealth management offering customer acquisition (including KYC), account origination, omnichannel banking, customer retention and marketing, and services supporting payments, wealth advisor, financial crime, risk and compliance and analytics.

About Temenos

Temenos AG (SIX: TEMN), headquartered in Geneva, is the world's leader in banking software, partnering with banks and other financial institutions to transform their businesses and stay ahead of a changing marketplace. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 500 million banking customers. Temenos offers cloud-native, cloud-agnostic front office and core banking, payments, fund management and wealth management software products enabling banks to deliver consistent, frictionless customer journeys and gain operational excellence.

Temenos software is proven to enable its top-performing clients to achieve industry-leading cost-income ratios of 25.2% and returns on equity of 25.0%, 2X better than the industry average. These clients also invest over 53% of their IT budget on growth and innovation versus maintenance, which is 2.5X the industry average, proving the banks' IT investment is adding tangible value to their business.

For more information, please visit http://www.temenos.com

SOURCE Temenos

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