Temenos and digital engineering firm Nagarro have signed an agreement to license and further develop Temenos Country Model Banks for Romanian and Polish financial organisations.

Through the agreement with Nagarro, the Swiss banking software provider aims to achieve growth with improved local functionality and service capability provided by the former in the two markets.

As part of the new engagement, Nagarro will invest in and develop regulatory and business-specific localised functionality to improve the Temenos Model Banks for financial institutions in Romania and Poland.

Besides, the Country Model Bank agreement will allow Temenos’ customers in Romania and Poland to leverage Nagarro’s presence and regional expertise.

Nagarro co-founder Vishwanath Rajashekarappa said: “We are delighted to be granted this license by Temenos to develop Country Model Banks to drive growth and customer success.

“This agreement is a testament to our capabilities as a long-standing partner of Temenos and our knowledge of local market practices and regulations. We look forward to helping clients in Romania and Poland scale and optimise their businesses on the Temenos banking platform.”

According to the Swiss company, the licensing agreement will enable it to scale the competitive advantage with partners.

It will help Temenos to further develop and build new model banks compatible with the banking solutions on its composable platform and software as a service (SaaS) offering on Temenos Banking Cloud.

Temenos SaaS and partner ecosystem global head and executive vice president Ross Mallace said: “We are excited to announce this agreement with Nagarro, which opens new opportunities for Temenos with financial institutions in Romania and Poland.

“Nagarro will become a trusted partner for the development and maintenance of Country Model Banks for these two countries and help customers in their progressive technology renovation. Such agreements bring additional value to our platform, which benefits our clients and ultimately delivers incremental growth for Temenos.”