Banking software provider Temenos plans to open an office in C\u00f4te d\u2019Ivoire or Senegal to target francophone clients.<\/p>\n
There is \u201cabsolutely\u201d a pipeline of demand from banks in French-speaking countries, Alexandre Menage, Temenos managing director for Africa, says from Cape Town. The plan is to open the office \u201cin the very near future\u201d, but no final decision has been taken, he says.<\/p>\n
The COVID-19 pandemic has transformed Cloud-based software from a \u201cnice to have\u201d extra to a \u201cmust have\u201d, Menage says. Cloud means that digital banking offers can be maintained without the risk of infrastructure such as data centres failing, he adds.<\/p>\n
Temenos, which trades on the Swiss stock exchange, claims 3,000 clients globally, including 41 of the world\u2019s top 50 banks. The company has 160 clients in Africa, the majority in English-speaking countries. Menage expects that a balance between English and French-speaking clients will soon be reached. The plan is to open the new office and then gradually increase the number of people. \u201cThe demand justifies it. It was only a matter of time.\u201d<\/p>\n
Orange Bank has been a Temenos client in West Africa since late 2019. The bank went live with a Temenos solution in July.\u00a0 African clients also include Sombank, an Islamic bank in Somalia, Libya\u2019s Assaray Trade and Investment Bank, and Barko, a microfinance institution in South Africa.<\/p>\n
Using Cloud-based software allows banks to spend more money on innovation rather than on maintaining legacy infrastructure, Menage says. Temenos keeps its own costs down by relying on client systems to implement software. That allows the company to reinvest 20% of global revenue in new products.<\/p>\n","protected":false},"excerpt":{"rendered":"
Banking software provider Temenos plans to open an office in C\u00f4te d\u2019Ivoire or Senegal to target francophone clients.<\/p>\n","protected":false},"author":4,"featured_media":319783,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[59],"class_list":["post-319782","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-west-africa"],"yoast_head":"\n