Switzerland’s Temenos is looking to break into the Chinese market, having become the first core banking software provider certified with Huawei infrastructure and Huawei Public Cloud.
Under the arrangement, Temenos and Huawei will jointly go-to-market with a cloud-based package for financial institutions to refit their core banking infrastructure.
Geographically, the partnership covers Asia-Pacific (APAC) with a specific focus on China, and it also includes Africa, Europe, Latin America and the Middle East. The scope of the agreement covers sales and marketing, implementation and training.
Temenos and Huawei have extensive reach into the global financial services market. More than 3,000 banking and financial institutions worldwide operate on Temenos technology, while Huawei works with more than 2,000 financial institutions worldwide, including 47 of the world’s top 100 banks.
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Philip Barnett, president of strategic growth, Temenos, comments: “This joint go-to-market strategy with Huawei will massively accelerate our market penetration in China which represents approximately a USD 6 billion addressable market, and we are extending to the Middle East, Africa, Europe and Latin America. Our certification on Huawei Cloud demonstrates that our cloud-agnostic banking platform enables banks to pursue a multi-cloud strategy and have the highest levels of active-active resilience with the cloud provider of their choice.”
The agreement with Temenos is part of a major push by Huawei to enter the booming market for cloud-based banking technology. The Chinese communications giant today announced the formation of a new Financial Partner Go Global Programme to create a global ecosystem of fintech partnerships operating across its cloud infrastructure