The Challenge: Legacy Systems and⁢ Regulatory Complexity

Australian financial institutions are facing increasing pressure to‌ modernize their core banking⁣ systems. Outdated infrastructure and ‍a⁤ complex regulatory landscape are hindering agility and innovation. To ‌remain competitive, ⁣banks ‍need to embrace cloud-native solutions ‍and streamline operations⁢ – a task often easier said than done.

A⁤ Strategic Partnership for Transformation

On August‌ 21, 2025,​ Cognizant (Nasdaq: CTSH) and temenos announced a five-year strategic engagement‌ to address these​ challenges. The collaboration⁤ will focus on developing and marketing the Temenos Country Model ⁣Bank ⁣specifically for the Australian market. This pre-configured ​banking platform is designed to considerably reduce the cost and risk associated with core banking system upgrades.

The Temenos Country Model Bank extends Temenos’ existing​ core banking platform, offering pre-configured,‍ regionalized functionality tailored to the unique requirements of Australian financial institutions. ⁢ Cognizant, designated as the preferred⁢ upgrade partner in Australia, ‍will play a key role in further ‌developing and customizing this solution.

Key​ Benefits of the Collaboration

• Cloud-Native Modernization: The partnership will leverage cloud‌ technology to enhance the security, scalability, and performance of banking systems, with⁣ minimal disruption through near-seamless updates.
• End-to-End Implementation: Cognizant will provide ⁤thorough services, including consulting, integration, upgrades, maintenance, and ​support,‍ across the temenos suite of solutions (Core, Digital, Payments,⁢ Financial crime⁤ Management, and Wealth Management).
• Streamlined ⁣Compliance: The pre-configured framework ‍of‍ the country Model Bank will help banks navigate​ Australia’s complex financial regulations ‌more⁢ efficiently and accurately.

Voices from the Leaders

We ‍are delighted to collaborate ⁢with Cognizant, strengthening⁣ our commitment to delivering​ agile and future-ready banking solutions in Australia.​ Together, we are driving digital transformation that enhances efficiency and ‍scalability‍ for financial institutions.

We are​ thrilled to expand our collaboration with⁣ Temenos ‌to advance our shared commitment to this​ very strategic market. Together, Cognizant ‌and Temenos‌ will bring decades of ⁤global expertise…delivering a pre-integrated, ⁢market-ready‍ solution ​that ‍aims ​to significantly reduce risk ⁣in core modernization initiatives.

Rob Marchiori, ⁢Australia Country Manager at Cognizant, added ​that⁣ the ​partnership will ‍not only ⁤benefit existing Temenos clients but also create new opportunities for expanding Cognizant’s banking solutions ⁢portfolio in Australia.

About the companies

Cognizant engineers modern businesses, helping clients modernize technology, reimagine processes, and transform experiences.

Temenos is a global leader⁢ in banking technology, providing adaptable solutions for banks of all sizes to deliver next-generation services.