Cognizant has entered into a five-year collaboration with Temenos to advance core banking transformation in Australia through the development and marketing of Temenos Country Model Bank.
The initiative aims to address challenges faced by Australian financial institutions, such as regulatory complexities and outdated systems.
Temenos Asia-Pacific managing director Will Dale said: “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.”
Temenos Country Model Bank provides pre-configured, regionalised solutions to expedite the implementation of modern banking systems while reducing costs and risks.
The partnership focuses on utilising Temenos’ cloud-native technology alongside Cognizant’s expertise in implementation and market strategy.
Cognizant, as the preferred upgrade partner, will enhance the regional functionality of the platform tailored to Australian financial institutions. The engagement promotes cloud migration to improve security, scalability, and performance for banks in Australia, ensuring minimal downtime during platform updates.
Cognizant will manage comprehensive software delivery for Temenos solutions, including consulting, integration, upgrades, maintenance, and support. This service extends across Temenos’ Core Banking, Digital Banking, Payments, Financial Crime Management, and Wealth Management solutions.
The aim is to facilitate efficient transformation for banking institutions by offering market-ready core banking solutions that meet local industry standards. The pre-configured framework is designed to streamline operations and reduce complexity, thereby cutting costs and enhancing financial accuracy.
Cognizant industry solutions global head Archana Ramanakumar said: “Together, Cognizant and Temenos will bring decades of global expertise, insights from leading core modernization programs, and industry-proven methodology to the Australian financial services sector, helping enable financial institutions to achieve their target digital operating model.
“This will be a true game-changer for Australian financial institutions that are on their digital transformation journey, delivering a pre-integrated, market-ready solution that aims to significantly reduce risk in core modernisation initiatives.”
In a related development, MIDBANK in Egypt successfully transitioned to Temenos’ core banking suite in July 2025. This marked a significant shift from its legacy systems as part of an overarching initiative to modernise operations and offer advanced banking services.
The implementation involved its Core Banking suite along with Payments Hub, Financial Crime Mitigation, and Data Hub components. This transition was completed using a ‘big bang’ approach, decommissioning the old system and initiating the new platform simultaneously.
