Financial Services

Helping financial services organizations deliver the foundations for true resilience

Financial services firms are increasingly turning to the cloud to create digital banking solutions and to build resiliency and agility into their core business infrastructure. This trend has only accelerated as the world adapts to virtual working environments and entirely new ways of doing business. 

To help banking and financial services customers understand how they can acclimate, Google Cloud will participate in an on-demand session on “Temenos Technology - Innovation, Agility and Rapid Responsiveness - How Temenos Delivers the Foundation for True Resilience in Banking” at the Temenos Community Forum Online on Thursday, April 30. In the meantime, we wanted to share a look at the work that we’re doing with Temenos to help banking customers digitally transform and preview some of what you can expect to hear in our upcoming online session. 

The digital transformation imperative
Modernizing applications and infrastructure are important ways businesses can ensure they can scale to meet demand and provide the personalized digital experiences customers expect. As a result, a growing number of financial services organizations have embarked on digital transformation journeys. But as the current environment has impacted the financial services industry, many banks have found these initiatives support more immediate and pressing needs too. With closed branches and limited in-person assistance, elevated digital banking services and omnichannel customer support have provided essential financial lifelines for millions of customers.

In other words, modernizing the applications that serve your bank’s back, middle, and front office—as well as the supporting infrastructure—has become an imperative across your entire business. Here are a couple of short-term implications that could have a lasting impact on the industry:

  • Ensuring business continuity through uncertain times. While digital transformation can help businesses stay competitive in the best of times, it can also be crucial in helping to weather any storm. A modernized application and infrastructure environment can help you maintain business continuity and operate during unforeseen circumstances, as well as scale up and down to meet unprecedented demand. 

  • Addressing the rise in volume from digital channels that may now be the new normal. Today’s consumers have long been expecting their banks to deliver omnichannel, seamless, intuitive, and highly personalized digital experiences. However, never has the demand been more immediate, with recent and sudden spikes in digital payments and a surge in contact center requests for payment extensions, fee waivers, and more.

Given these immediate implications, digital transformation is a journey that needs to happen quickly and seamlessly, yet in a way that makes sense and is tailored for your bank. It also needs to offer you all of the required agility, resiliency, and efficiency gains to continue to deliver critical, world-class financial services to your customers, no matter what.  

A partnership dedicated to supporting transformation on your terms
We’ve teamed up with Temenos, a global leader in financial services technology, to support a vision of digital transformation that can help banks realize much-needed agility and resiliency while also enabling ease of management and flexible deployment. In 2019, we started working with Temenos to integrate its portfolio of banking applications onto Google Cloud. Since then, we have expanded our partnership to make the full suite of Temenos banking applications—including solutions for frictionless omnichannel customer experiences, digital payments, and core banking—available to our customers.

In addition, Temenos became the first global banking software provider certified for Anthos—our open hybrid and multi-cloud application modernization platform. Anthos gives enterprises, including financial institutions, a platform for migrating and modernizing their applications, deploying easily and securely across any combination of hybrid cloud, on-premises, or multi-cloud environments. 

If you’d like to learn more about how financial services organizations can improve resiliency with their business continuity plans, join the session “Temenos Technology - Innovation, Agility and Rapid Responsiveness - How Temenos Delivers the Foundation for True Resilience in Banking” at Temenos Community Forum Online, a free two-day virtual event, on April 29-30.