MUMBAI, India — Larsen & Toubro Infotech (LTI) launched a digital banking platform powered by Temenos technology. The platform will modernize legacy core banking systems in the Nordic region, enabling financial institutions to be more agile and scalable while reducing operating costs. Banks will also be able to leverage the platform to launch new products and services faster.
With its comprehensive capabilities, the digital banking platform provides end-to-end integration with Temenos Transact, Temenos Infinity, Temenos Payments, and Temenos Financial Crime Mitigation. The Temenos Marketplace offers fintech solutions, like regulatory reporting, authentication, KYC solutions, card services, and payment solutions. LTI and its fully owned subsidiary, Syncordis Consulting, will provide implementation and managed services.
The partnership heralds a new era for Nordic banks as it brings together LTI's expertise in the domain and its deep understanding of Temenos functionality and the advanced cloud-native, cloud-agnostic, AI, and API-first technology solutions utilized by 3,000 banks in over 150 countries.
"This partnership of Temenos and LTI brings unmatched experience, expertise, and passion for innovation to the banks and financial institutions in the Nordic region,” said Sanjay Jalona, CEO and managing director, LTI. “The new, powerful banking platform based on Temenos' cloud-native technology will enable banks to scale, modernize, and reduce IT costs significantly. Through our exclusive Temenos Accelerator Toolkit, we amplify outcomes with a faster time to market and continue to provide outstanding banking modernization services that empower banks to take a quantum leap in their digital transformation journey."
"This is a strategically important signing for Temenos in the Nordics,” said Max Chuard, chief executive officer, Temenos. “We are delighted to expand our partnership with LTI and Syncordis to offer to the market the next generation digital banking platform. Together with our partners, we are offering banks access to LTI's global banking expertise across the full Temenos' solutions applied to the specific needs of the Nordic region. We enable banks to modernize their legacy systems, future-proof their banking platform while offering innovative services to their customers."