The new partnership with Temenos will enable Regions Bank to deliver more customer experiences and personalised banking products and services; this, in turn, will help consumers and businesses achieve their financial goals.
Regions Bank currently holds $155bn in assets and is one of the United States’ largest full-service providers of consumer and commercial banking, wealth management and mortgage products.
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President and CEO of Regions Financial Corporations John Turner said: “At Regions, the foundation of our business is clear: experienced bankers, supported by technology, meeting customers’ needs with competitive solutions
“Modernising our core systems supports our ongoing focus on innovation and delivering value to our customers through personalised offerings and intuitive, streamlined experiences. This, in turn, paves the way for continued, sustainable growth. We look forward to collaborating with Temenos on the evolution of banking technology in the US”, Turner added.
Temenos: company profile
Temenos is a company specialising in software for banks and financial services. In January, Taiwanese neobank Next Bank implemented Temenos’ core banking platform to simplify its financial management processes.
Next Bank chief information officer Eric Lee said at the time that Temenos’ open platform “will empower Next Bank to continue to thrive in the world of instant, always-on services, breaking boundaries to deliver the future of banking today.”
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By GlobalDataLast year, Temenos reported revenues of $949.6m, a 1.8% decrease over FY2021. The company’s net income was $114m, 34% lower than in 2021.
Andreas Andreades, executive chairman of Temenos, welcomed the collaboration with Regions Bank.
“This is a highly strategic win for Temenos in the US, an important region for us, and where we are seeing tremendous growth in SaaS”, Andreades said. “With the best customer references such as Commerce Bank, Varo Bank and a global payments provider amongst others, and a proven US model bank which is fully compliant with US regulations, delivering advanced cloud and SaaS technology and developing US pre-configured banking capabilities, is now compelling for US banks of all sizes, even the largest to move to Temenos.”
“We look forward to collaborating with Regions on their core banking modernisation and incorporating their ideas and innovations into our platform to continue our investment and growth in the US market”, Andreades concluded.
