MyLife MyFinance has Partnered with Temenos in Digital Overhaul

Australia-based financial institution, MyLife MyFinance has decided to partner with Temenos for a digital overhaul of its financial framework.

Temenos, the financial software program business, said today that MyLife MyFinance has started to use the front-to-back electronic financial system provided as Temenos SaaS. Using the Temenos Country Model Bank approach, the brand-new front-to-back system streamlines procedures, vast;y improves the client experience, and changes out the old systems.

Temenos cloud technology helps MyLife MyFinance to develop super-efficient costing models to expand its collection of products. The reduced costs from Temenos SaaS will enable MyLife MyFinance to supply more competitively priced products to its clients.

As a result of the Temenos build-and-migrate application, MyLife MyFinance has minimized intricacy by transferring to one main core financial system to shop and also run all of its processes and also information, Temenos Transact. The end-to-end service enhances automation and right via handling (STP), completing conditional choices for 90% of applications.

Temenos’ end-to-end SaaS remedy additionally lowers price and also complexity, and paves the way for development. The bank now takes advantage of secure, scalable innovation constructed to satisfy Australian needs today as well as in the future, consisting of developing an open financial ecological community to boost solutions like client confirmation, digital budgets as well as fraudulence surveillance, to provide a set apart consumer experience. The task was finished using a phased method, supported by Syncordis.

Temenos has provided MLMF with a front-to-back digital banking system. This includes Temenos Infinity and Analytics, an API-first modern technology that provides integration with third parties, which can assist firms produce brand-new services.

Cloud-native technology is assisting financial institutions develop hyper-efficient cost structures, enabling them to pass on the advantages to their customers in terms of a much better banking solution. Financial institutions that have actually welcomed modern technology can now run their operations at 10% of the cost of their legacy modern technology pile. MyLife MyFinance can focus more of its IT invest in growth and also technology instead of on upkeep.

MyLife MyFinance is an Australian financial institution providing its customers a variety of financial savings as well as providing remedies.