Temenos, a provider of technology solutions to the financial services industry, has launched the T24 country Model Bank for Mexico in the Microsoft Azure cloud expanding its cloud-based services in the region.
Core banking services in the cloud will enable financial organisations to operate with lower costs and more flexibility thereby helping them to provide under-served communities with access to financial services.
Temenos said that its Mexico-specific modern core banking solution as a service on the Microsoft Azure platform will offer the functionality to address local service needs, including assistance with regulation and compliance requirements, while reducing the cost, time and risk of building or licensing a fully-functional technology platform in-house.
Servicios y Financiamiento Agrícola (SeFia) and Sociedad Financiera Campesina (Soficam) will be the two early adopters of the service in the country.
Temenos Latin America regional director Enrique O’Reilly said: "Deploying banking technology from a cloud-based platform solves significant issues for our clients by allowing them to launch quickly, to turn fixed into variable costs and to operate profitability at much lower levels of scale."