Temenos and Bahwan CyberTek signed an exclusive, seven-year strategic agreement to provide financial institutions in India, Sri Lanka, Nepal and Bhutan with Temenos’ banking platform and BCT’s professional services, for seven years
Switzerland-based financial technology and software provider Temenos has partnered with India-based Bahwan CyberTek (BCT) to expand its operations in certain Asian countries.
The two companies have signed an exclusive, strategic agreement to scale Temenos’ business in India, Sri Lanka, Nepal and Bhutan.
Under the terms of the agreement, BCT is responsible for marketing, implementing, and promoting Temenos products and solutions in the four Asian countries, for seven years.
It will serve as an exclusive sales and delivery partner, to help Temenos expand its market coverage and deepen local expertise.
The Indian software company will leverage its network of 4,000 product engineering and digital services practitioners and consultants for the partnership.
BCT co-founder, director and group CEO S Durgaprasad said: “We are pleased to forge this partnership with Temenos as it increases our visibility and reach in the banking industry.
“Financial institutions are facing intense pressures from customer demands, regulations and fierce competition from new players entering the industry.
“Our strong financial services offerings, deep regional expertise and services capability combined with the power of Temenos’ leading banking platform, places us in a strong position to drive digital transformation for banks and financial institutions.”
Temenos said that the financial institutions in the four countries will benefit from its advanced banking platform, along with professional services and regional expertise from BCT.
The agreement will enhance its visibility on profitability and cash flow and will help advance its business growth and enhance customer focus in the four countries.
In addition, the partnership will help banks in India, Sri Lanka, Nepal, and Bhutan to switch from their legacy systems and migrate to Temenos’ open platform for composable banking.
Its banking platform will enable the institutions to advance modernisation, increase efficiency and scale operations and enhance customer experiences, said Temenos.
Temenos president and chief revenue officer Erich Gerber said: “We are excited to announce this exclusive agreement with BCT, which opens up our addressable market and accelerates our growth through new business opportunities in these geographies.
“Banks will benefit from our significant R&D investment and innovation roadmap while BCT will bring world-class professional services and a wide range of complementary technology to drive faster innovation, broader reach into these markets, and faster adoption of our open platform for composable banking.
“By joining forces with BCT, we will deliver more value to our clients empowering them to build new business models, new banking services and offer superior customer experiences.”