Temenos and Deloitte have entered into a partnership agreement aimed at delivering technology solutions to assist US financial institutions in expediting their core banking and payments modernisation processes in the cloud.

Under the collaboration, Temenos and Deloitte Consulting will support American banks in achieving quicker and more cost-effective delivery of modern digital experiences. The partnership will enable them to capitalise on emerging business models and market opportunities, including instant payments and Banking-as-a-Service (BaaS).

Expanding upon their close global collaboration, the new agreement establishes a unified go-to-market strategy in the US, providing Temenos with a fresh avenue to accelerate its market presence within the large banks segment and among significant players in the payment industry.

Temenos Americas president Philip Barnett said: “With our joint go-to-market strategy with Deloitte we will accelerate our penetration in the US market, specifically in the large banks segment.

“Together, we can support financial institutions with their payments’ transformation across multiple payment schemes and evolving regulations and we can help them to progressively modernise their core banking capabilities and accelerate the time to value.”

Under the new agreement, the two companies will present a leading-edge modernisation approach to address competitive, regulatory, cost, and innovation considerations for large bank customers.

Deloitte will collaborate closely with Temenos, employing standardised, process-driven best practices to ensure faster, low-risk deployment of their solutions.

The collaborative effort will allow clients to leverage the industry expertise and consulting capabilities of Deloitte US, along with Temenos’ suite of composable banking capabilities and Software-as-a-Service (SaaS) solutions on its cloud-native banking platform.

Deloitte Consulting managing director Steve Hillas said: “As the banking market moves to the cloud, Temenos offers a compelling proposition to US banks.

“With our know-how and deep experience with Temenos implementations, Deloitte can serve as an accelerator for banks to pursue a technology modernisation strategy, helping them to evolve their clients’ experiences, gain operational resiliency and position for ecosystem plays.”

In late 2023, Temenos announced a partnership with IBM to bring advanced payments capabilities on IBM Cloud for Financial Services via the Temenos Payments Hub solution.