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Rakuten Europe Bank partners with Temenos to use cloud banking services

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Rakuten Europe Bank uses the Temenos open platform for composable banking to improve customer experiences, accelerate the development of new payment products and expand into new markets

GENEVA, Switzerland, March 22, 2022–(BUSINESS WIRE)–Temenos (SIX: TEMN), the banking software company, today announced that Rakuten Europe Bank, a Rakuten Group company with more than 70 companies and more than 1.6 billion customers worldwide , has signed an agreement with Temenos. to offer banking services, including Rakuten Pay, on the Temenos Banking Cloud. With the Temenos open platform, Rakuten Europe Bank will accelerate its growth across Europe.

By moving to Temenos’ open platform for composable banking, Rakuten Europe Bank will be able to improve the customer experience, accelerate new product development and expand into new markets. In addition, the bank’s platform offers immense scalability to analyze the massive amounts of data generated by customer activities at any given time, thereby improving the online experience for all customers.

Temenos Banking Cloud provides a stable, secure and fully compliant service for Rakuten Europe Bank, headquartered in Luxembourg, in one of the most regulated banking markets in Europe. The implementation for Rakuten Europe Bank will include Temenos banking services out of the box for payments and accounts.

Toshihiko Otsuka, CEO of Rakuten Europe Bank, commented: “The move to the Temenos Banking Cloud is an important milestone for Rakuten Europe Bank as it continues to expand in Europe. It gives us the flexibility we need to scale and expand our banking services. Our ultimate goal is to add value and innovate to improve the customer experience for our customers in Europe.”

Temenos CEO Max Chuard commented: “We are very excited to welcome Rakuten Europe Bank to the Temenos Banking Cloud. At Temenos, we share Rakuten’s passion for innovation and look forward to helping the bank achieve its ambitious goals. With a global ecosystem that includes more than 1.6 billion customers, Rakuten recognizes the great value of data in empowering society. With the Temenos Banking Cloud, the bank will have unprecedented agility and scalability to improve its banking capabilities and customer experience.”

Temenos Banking Cloud provides an open and secure cloud-native platform to build, extend or deploy banking capabilities at scale. Temenos Composite Banking Services consist of pre-configured and pre-assembled Temenos banking functionality, as well as optional third-party integrated solutions from the Temenos exchange marketplace. This helps banks and non-banks bring innovative products to market faster to meet rising customer expectations and lower development costs. Temenos recently announced new Temenos banking services. These include Buy Now, Pay Later, Retail Loans, Payment Fraud Mitigation, and KYC Customer Risk Assessment.

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View the original version on businesswire.com: https://www.businesswire.com/news/home/20220322005180/en/

contacts

Media contact person
Jessica Wolfe and Scott Rowe
Temenos Global PR
Telephone: +1 610 232 2793 and +44 20 7423 3857
Email: [email protected]

Alistair Kellie and Andrew Adie
Newgate Communications on behalf of Temenos
Phone: +44 20 7680 6550
Email: [email protected]

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