Jean-Pierre Brulard, CEO of Temenos, inaugurated the first day of the Temenos Community Forum (TCF) with an address following the transition of leadership from former CEO Andreas Andreadas.
Brulard shared insights about his software background prior to joining Temenos, expressing his enthusiasm for this new chapter in the company’s journey. He highlighted the growing challenges faced by financial service providers, stating, “This world is becoming more volatile, more uncertain, more complex, more ambiguous.” He emphasized that success in the software industry hinges on two key elements: customer centricity and innovation.
“Throughout my career, I’ve observed excellent companies that were customer-centric but failed to innovate, resulting in stagnation. Conversely, I’ve also seen strong innovators lacking in customer focus, which hindered their ability to scale,” he noted. He stressed that innovation should stem from customer needs, while Temenos’s role is to foresee critical innovations.
Brulard concluded with a commitment: “What you can expect from me and my executive team is to always be accountable to deliver on our commitments.”
The Importance of Customer Journeys
William Moroney, president of international operations at Temenos, shared the stage with Chuck Kim, executive vice president and CFO of Commerce Bank; Marlou Jenniskens, managing director of digital wealth products at ABN AMRO; and Vincent Chatard, COO of Mauritius Commercial Bank.
Kim outlined the motivations behind Commerce Bank’s decision to modernize its core systems, noting, “Our journey began when we recognized that our existing core system was very inflexible. It was outdated, over 30 years old, and our customers demanded more digital experiences and a wider array of products, compelling us to adapt much faster.”
Jenniskens highlighted the necessity of rejuvenation within their business model and customer base, observing a significant wealth transfer from the baby boomer generation to younger demographics. She mentioned the need for personalized options and accessible digital products, stating, “We realized that we are on a significant digital transformation journey that is essential for us. We cannot do everything simultaneously; hence, optionality is key, and that’s where Temenos has been instrumental.”
Chatard discussed the regulatory advantages of employing a unified platform, emphasizing the importance of consistent upgrades to maintain compliance with cybersecurity regulations and avoid creating legacy issues.
Prema Varadhan, president of product and COO of Temenos, presented the company’s latest product innovations. She covered developments in Temenos Enterprise Service, generative AI, advancements in asset finance, updates to their digital wealth app, and efforts to enhance carbon efficiency in software.
Spyros Loizou, group head of international IT at Eurobank (Cyprus), shared insights on their banking transformation. He stated that while the need for system updates was clear, choosing the right approach was challenging. “We aimed for a partner that could offer scalability, flexibility, and a comprehensive product range to simplify integration,” he explained. He proudly noted a complete transformation that fostered a foundation for new innovations.
Varadhan was later joined by Arturo Grullon, CEO of QIK, to discuss their preference for SaaS over cloud or on-premises solutions. Grullon expressed the need for a flexible solution with a quick time to market that was also scalable and reliable. He remarked, “Where Temenos truly excelled was in providing both innovative products and the ability to reliably scale our business.”
AI-Infused Platform and SaaS
After a coffee break, Varadhan initiated a discussion regarding Temenos’s launch of its generative AI product, Responsible AI. She underlined the significance of utilizing responsible AI, referencing the current EU AI Act, which enforces safe, transparent, unbiased, and environmentally friendly AI applications. She emphasized, “Unless the model is explained, it’s impossible for someone to understand its reasoning.”
Tony Coleman, chief technology and innovation officer at Temenos, wrapped up the first half of the day by discussing the latest updates to the Temenos Banking Platform and introducing Temenos Positions. Coleman outlined improvements in engineering efficiencies, including Project Rapid, which allows for swift executable generation, streamlining the application framework to enhance deployability. He highlighted that Temenos Positions can integrate with existing architecture and is lightweight due to externalized data management.