Australia-based SME focused Judo Bank has implemented Temenos T24 Transact, Analytics, Financial Crime Mitigation and Channels - a module of Temenos Infinity - running on Temenos Cloud to boost its SME offerings.


Image: Judo Bank deploys Temenos solution to boost SME offerings. Photo: Courtesy of Bethany Drouin from Pixabay.

Judo Bank said that the implementation took place in record time by the virtue of speed, elasticity and flexibility offered by the cloud, allowing the bank to focus on supporting businesses across Australia rather than managing IT systems.

Using advanced API-first architecture, Temenos T24 Transact has been integrated with Judo’s existing systems via its zero-trust-network and identity management system, enabling third-parties to connect easily and creating an open banking ecosystem.

Judo Bank co-founder and CIO Alex Twigg said: “We selected Temenos as our strategic technology partner to help us with our goal to become the most trusted business bank in Australia.

“Temenos worked closely with us from the beginning, and with its cloud-native digital front and back office products enabled us to launch fast and with a low risk implementation.

“This allows us to cut through traditional bureaucracies and the sales-driven and property-secured status quo to transform the SME banking in Australia through a focus on close customer relationships.”

Temenos chief executive officer Max Chuard said: “We worked closely with Judo Bank’s agile and passionate team to go live in record time.

“The pace of regulatory change in Australia combined with transformational cloud-native banking software – Temenos Infinity and Temenos Transact – has made new business models possible, and Judo’s customers are the ultimate winners. We are proud to be partnering with Judo to re-shape the Australian banking landscape.”

Last year, Judo Bank has achieved the second largest pre-revenue fundraising round worth A$140m ($97.9m).

The bank, which runs on Temenos Cloud hosted on Microsoft Azure, claims that it has developed a system that enables traditional relationship banking backed by modern, legacy-free technology, processes and systems.

Microsoft worldwide financial services vice president Janet Lewis said: “Through our relationship with Temenos – which was the first banking software company to launch a core banking offering on Microsoft Azure in 2011 – Judo Bank is challenging the conventional SME banking experience.

“Judo is benefitting from high levels of performance and scalability along with the security, privacy and compliance offered by operating in the cloud.”