TORONTO and GENEVA, June 26, 2024 (GLOBE NEWSWIRE) -- Temenos (SIX: TEMN), the banking software company, today announced that Haventree Bank, a federally regulated Schedule 1 bank in Canada, has selected Temenos to support its digital transformation and business growth.
Haventree currently serves the alternative mortgage market across Canada through the broker network, catering to individuals who are underserved by traditional financial services providers. With Temenos, Haventree will leverage core banking as Software-as-a-Service (SaaS) to unlock greater business agility, improved performance, scalability, and enhanced security.
Following a rigorous selection process, Temenos was chosen for its scalable SaaS, which gives Haventree the business agility to rapidly deploy cloud-native, API-first banking capabilities on a continuously updated service. This will allow Haventree to focus its resources on clients and partners, and on transformation and innovation while ensuring an adaptable, modern IT environment.
Fern Glowinsky, President and CEO, Haventree Bank, commented: “As we continue making strategic investments in technology to expand and deepen our client relationships, we are excited to be partnering with Temenos for Haventree Bank’s new core banking platform. This new platform will help power the expansion of our product suite and further our digital transformation towards Haventree 2.0.”
Philip Barnett, President – Americas, Temenos, said: “By selecting Temenos, Haventree Bank has chosen a strategic technology partner that offers scalability, operational efficiency, and the ability to grow alongside their business. With a commitment to the Canadian market, Temenos is dedicated to supporting Haventree Bank in its vision for the future of banking – built on trust and innovation. We offer a proven, scalable SaaS model with localization and we continue to invest, making our offering the most compelling in the market.
“Temenos has a proven platform, with extensive delivery and migration experience in the Canadian market, with clients ranging from established to digital banks.”
About Haventree
Haventree Bank is a Canadian federally regulated Schedule 1 bank that exists to be a catalyst for financial security and upward mobility for Canadians underserved by the traditional financial system. With its specialized and experienced team, Haventree works closely with the mortgage and deposit broker community to recommend the right mortgage and GIC deposit solution for clients. Haventree takes an empathetic approach to help hardworking Canadians reach their goal of home ownership. Their GIC deposits offer competitive rates and are available through various platforms. More information about Haventree can be found at www.haventreebank.com
About Temenos
Temenos (SIX: TEMN) is the world’s leading open platform for composable banking, serving clients by helping them build new banking services and state-of-the-art customer experiences. Top performing banks using Temenos software achieve cost-income ratios almost half the industry average and returns on equity 2X the industry average. Their IT spend on growth and innovation is also 2X the industry average.
For more information, please visit www.temenos.com.
