Societe Generale selects Temenos to boost transaction banking activities in Europe & Asia

By Megha Bhattacharya

Societe Generale, today, has selected Temenos to modernize the account management and payment systems for its Global Transaction Banking activities in Europe and Asia. Temenos agile technology platform will enable Societe Generale to deliver sophisticated corporate banking products and services with digital-first experiences to stay ahead of the curve.

Philippe Morère, Global CIO and deputy COO, Societe Generale Global Business & Investor Solutions, said: “Temenos is a proven solution that offers the functionality and agility to deliver a better banking experience to our customers with the scalability and performance to support future growth.

“A big advantage of Temenos is the ability to operate a unified platform on-premise or on the cloud, providing services that can be easily integrated with our digital B2B Platform SG Markets. As for Asia, Temenos’ unified platform for core banking and payments across geographies will help us to optimize processing efficiencies and enhance service innovations for our transaction banking clients.”

The Bank will replace existing legacy systems with Temenos’ cloud-native banking platform in 13 countries across Europe and Asia as part of a strategic transformation plan to offer new and differentiating global transaction banking services and drive growth. Temenos Payments will provide the payments engine for financial transactions across all Asian countries. With this next-generation platform, the bank’s international entities will be ISO20022-ready domestically and internationally. And the bank will benefit from the agility and flexibility to process payments from any channel, external or internal, with different message or file formats, all in real-time.

Max Chuard, CEO, Temenos, added: “We are proud to partner with such a prestigious Tier 1 bank to accelerate their digital transformation. With Temenos’ cloud-native, API-first technology, the bank can innovate with speed, ease, and efficiency to meet the evolving needs of its global transaction banking clients. This strategic modernization will future-proof the bank’s technology infrastructure, allowing it to transition to the cloud at its own pace. To be selected by Societe Generale for this important project demonstrates our technology leadership and our shared vision to make banking better.”