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October 17, 2019

MuniFin choose Temenos to drive digital transformation

By Evie Rusman

Municipality Finance Plc (MuniFin) has chosen Temenos to transform its technology and modernise its loan lifecycle system.

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Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
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by GlobalData
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The Finnish credit institution will utilise Temenos T24 Transact to improve and simplify its lending IT architecture.

Rainer Holm, EVP, MuniFin, said: “We needed a strategic technology partner with robust, scalable technology to power our digital transformation. Temenos, with its deep expertise within the financial industry and its strong footprint in the Finnish market, as well as its global experience, emerged as the ideal partner and the most suitable solution for MuniFin.

“Temenos’ digital banking platform will enable us to streamline lending processes, gain greater agility and scalability. Additionally, we will be able to provide cost efficiencies across business and IT operations. With Temenos’ proven and open technology, we will improve our efficiency, data quality, increase digitalisation and meet the evolving regulatory requirements. With this we will also be able to focus to our customers’ and provide more value to our owners.”

Drive efficiency and simplicity 

Through Temenos’ technology, MuniFin aim to introduce new processes and apply workflows to improve efficiency. In addition, it hopes to meet market standards and client demands in the lending space.

Steen Jensen, Managing Director Europe, Temenos, said: “In the Nordics, and around the world, financial institutions understand the urgency to move away from legacy IT systems to modern packaged software running on the latest cloud-native, cloud-agnostic technology in order to operate efficiently and respond to the latest market opportunities and customer demands.

“The team at MuniFin understood that to develop their business they needed to digitally transform their operations. We’re delighted to work with MuniFin on this project.”

Earlier this year, Temenos launched its AI-powered anti-fraud solution, the Temenos Peer Group Identifier. The tool assists banks in improving their customer experiences through aiming their financial crime detection efforts on the highest risks.

Free Whitepaper
img

Never Trust, Always Verify: Is Zero Trust the Next Big Thing in Cybersecurity?

Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
  • Traditional vs zero trust protection
  • Key advantages and solution providers
  • Major industries and key players
  • Drivers and challenges
  • Top funded startups and Mergers & Acquisitions
  • Implementation challenges
by GlobalData
Enter your details here to receive your free Whitepaper.

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