SINGAPORE, Nov. 16, 2023 (GLOBE NEWSWIRE) -- Singapore FinTech Festival – Temenos (SIX: TEMN) today announced a collaboration with Gprnt, a new integrated digital platform launched by the Monetary Authority of Singapore (MAS), to cooperate on technology solutions, explore data integration and foster product development innovation capable of powering the future of sustainable finance.
Temenos is the first core banking software vendor to collaborate with Gprnt and will join MAS and partners on the ESG Stage at the Singapore FinTech Festival 2023 to discuss the potential opportunities that Gprnt will open up to better support financial institutions’ balance sheet decarbonization, ESG risk management and regulatory compliance needs.
Gprnt is the culmination of MAS’ Project Greenprint and aims to address the financial sector and real economy’s needs in collecting and accessing trusted climate- and sustainability-related data. Potential product co-development use cases with Temenos include enhanced KYC that takes ESG data from verifiable sources through Gprnt platform, and feed directly into a bank’s client onboarding. Also augmented data analytics incorporating additional ESG metrics for bank’s loan origination system flow, setting targets for pipeline loans that increasingly will see embedded elements of sustainability.
Tony Coleman, Chief Technology and Innovation Officer at Temenos, said: “Temenos has integrated ESG into its operations and product offerings, providing banks with the technology needed to help them transition to a low-carbon economy and achieve their ESG goals. We look forward to supporting Gprnt and exploring opportunities that will help mobilize capital, monitor sustainability commitments, and measure impact.”
Sopnendu Mohanty, Chief FinTech Officer, MAS, said: “Technology is a key enabler for financial institutions to surmount the challenges of green transition and achieve their net-zero targets. Temenos is a global name in developing banking platforms and we are delighted to have them onboard Gprnt to cooperate on initiatives to power the financial sector’s mounting need for better sustainable finance solutions.”
Temenos Banking Cloud, Temenos’ SaaS offering, helps banks decrease energy use and minimize greenhouse gas emissions up to 95% compared to on-premise deployments. Temenos also continues to improve the efficiency of its code to minimize its environmental impact, by 32% improvement in the latest software release validated by GoCodeGreen. With the Temenos Carbon Calculator, an industry-first, Temenos’ clients get CO2 emissions insights from their actual use of Temenos Banking Cloud.
Furthermore, Temenos ESG Investing solution helps banks meet reporting standards while offering products that allow their customers to choose investments based around their own values.
Temenos tops global indices and ratings including a Triple A MSCI ESG rating and a top ranking in Dow Jones Sustainability Indices. Temenos is the only banking technology company to have ambitious carbon emissions reductions validated by the Science-Based Targets Initiative (SBTi).
About Temenos
Temenos (SIX: TEMN) is the world’s leading open platform for composable banking, creating opportunities for over 1.2 billion people around the world every day. We serve 3000 banks from the largest to challengers and community banks in 150+ countries by helping them build new banking services and state-of-the-art customer experiences. The Temenos open platform helps our top-performing clients achieve return on equity three times the industry average and cost-to-income ratios half the industry average.
For more information, please visit www.temenos.com.
