Syncordis, a specialist global implementation services partner, in strategic collaboration with Telindus, an award-winning provider of Cloud, ICT and telecom services, have selected Temenos’ leading technology to introduce a Luxembourg-based Software as a Service (SaaS) solution for private banks.
The Luxembourg-based SaaS solution based on Temenos SaaS Technology aims to offer financial institutions a complete and futureproof “bank in a box”, fully hosted and operated from Luxembourg. The combined expertise of Syncordis and Telindus, with Temenos SaaS technology ensures that this solution meets the regulatory requirements and business needs of the Luxembourgish banking industry while its deployment model streamlines banks’ operational set-up. This model leverages the benefits of SaaS, namely outsourcing IT, as well as generating increased agility, scaleability and security.
By design, this offer powered by Temenos SaaS technology integrates organisational and technical capabilities for remote management of the technical and application infrastructure. Security being the central axis of the architecture, all the elements of the chain have been designed to guarantee the maximum data integrity of Syncordis’ clients. At the heart of this system, a secure platform requires that all connections to the data centre be initiated from Luxembourg, regardless of the consultant’s actual location. All connections are managed by a Privilege Access Management tool which guarantees a permanent, secure and monitored access (via recording of sessions), even in the most exceptional cases.
This regulated and flexible approach enables Syncordis to customise and scale its services to the individual client’s needs and even operate as an external Business Continuity Centre through its PSF.
Guillaume Desjonqueres, CEO of Syncordis, commented: “For years we have observed that banks outsource the implementation and the continued evolution of their information technology systems. Today they are discovering the advantages of cloud-based solutions over traditional on-premise ones. Accelerated deployments, standardisation, optimized costs and on-demand scaleability associated with cloud and SaaS operating models have made them extremely popular with companies looking to enhance business agility and future-proof their business".
Alain Vansnick, Regional Director, Benelux and Nordics at Temenos, added: “Banks are challenged with increasingly complex regulations, demanding customers seeking for new hyper-personalised products and the rise of new competitors like Big Techs. In this new environment, financial institutions need to rethink their business models and embrace cloud and SaaS technologies to reduce their time to market and operational complexity, as well as elastically scale and deliver outstanding digital customer experiences”.