Backed by Temenos technology, LTI’s new digital banking platform will support the modernisation of legacy banking systems in the region
Larsen & Toubro Infotech (LTI), a consulting and digital solutions firm, has selected banking software provider Temenos for the launch of digital banking platform in the Nordic region.
LTI’s Banking-as-a-Service platform, with support from Temenos, is expected to modernise the legacy core banking systems, enabling financial institutions in the Nordic region to become more agile and scalable, while reducing their operating costs.
As per LTI, its new digital banking platform will offer end-to-end integration with Temenos Transact, Temenos Infinity, Temenos Payments and Temenos Financial Crime Mitigation.
In addition, it will provide integration with Fintech solutions such as regulatory reporting, authentication, KYC solutions, card services and payment solutions available on Temenos Marketplace.
Larsen & Toubro Infotech CEO and managing director Sanjay Jalona said: “This partnership of Temenos and LTI brings unmatched experience, expertise, and passion for innovation to the banks and financial institutions in the Nordic region. The new powerful banking platform based on Temenos’ cloud-native technology, will enable banks to scale, modernize, and reduce IT cost significantly.
“Through our exclusive Temenos Accelerator Toolkit, we amplify outcomes with a faster time-to-market and continue to provide outstanding banking modernization services that empower banks to take a quantum leap in their digital transformation journey.”
LTI, Syncordis to offer managed services for banking platform
LTI and its European subsidiary Syncordis Consulting will offer implementation and managed services for the digital banking platform.
In March, Syncordis was selected by Standard Chartered Bank as its partner for strategic Temenos T24 Transact engagement, as part of its upgrades to its wealth platform.
The engagement involved reimplementation of Temenos T24 Transact by Syncordis as well as integrate it with the bank’s Temenos WealthSuite, Insight and DataSource applications along with other systems.