Temenos, a banking technology provider, has signed a global cloud partnership agreement with Software Group to enhance microfinance cloud offering for its customers.
Under this partnership, Temenos will deploy Software Group’s ‘under tree’ (UT) switch technology to allow various devices to communicate with each other across different locations within the cloud.
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Integrated with mobile technologies, the UT switch provides a strengthened payment option for local networks.
Temenos microfinance and community banking director, Murray Gardiner, said: "Our T24 platform has always been a strong offering for the microfinance sector particularly now with its availability as a cloud based service.
Gardiner added that their partnership with the Software Group will allow their customers to make use of T24 platform for microfinance through cloud based systems.
Established in 2011 in partnership with Microsoft, Temenos’ cloud solution enables its full T24 core banking solution to run on the Microsoft Windows Azure platform with initial emphasis on the microfinance, credit union and community bank sectors.
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By GlobalDataSoftware Group CEO, Kalin Radev, said that both the firms will offer microfinance institutions with IT solutions to improve their operations and increase the volume of business resulting in alleviation of the poverty in their regions.
