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 Outdated infrastructure and ‍a⁤ complex regulatory landscape are hindering agility and innovation.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.