Temenos (SIX: TEMN), the banking software company, today announced that Haventree Bank, a federally regulated Schedule 1 bank in Canada, has selected Temenos to support its digital transformation and business growth.
Haventree currently serves the alternative mortgage market across Canada through the broker network, catering to individuals who are underserved by traditional financial services providers. With Temenos, Haventree will leverage core banking as Software-as-a-Service (SaaS) to unlock greater business agility, improved performance, scalability, and enhanced security.
Following a rigorous selection process, Temenos was chosen for its scalable SaaS, which gives Haventree the business agility to rapidly deploy cloud-native, API-first banking capabilities on a continuously updated service. This will allow Haventree to focus its resources on clients and partners, and on transformation and innovation while ensuring an adaptable, modern IT environment.
Fern Glowinsky, President and CEO, Haventree Bank, commented: “As we continue making strategic investments in technology to expand and deepen our client relationships, we are excited to be partnering with Temenos for Haventree Bank’s new core banking platform. This new platform will help power the expansion of our product suite and further our digital transformation towards Haventree 2.0.”
Philip Barnett, President - Americas, Temenos, said: “By selecting Temenos, Haventree Bank has chosen a strategic technology partner that offers scalability, operational efficiency, and the ability to grow alongside their business. With a commitment to the Canadian market, Temenos is dedicated to supporting Haventree Bank in its vision for the future of banking - built on trust and innovation. We offer a proven, scalable SaaS model with localization and we continue to invest, making our offering the most compelling in the market.
Temenos has a proven platform, with extensive delivery and migration experience in the Canadian market, with clients ranging from established to digital banks.”