Virgin Money Australia Selected Temenos SaaS to Power the Digital Bank of the Future
Summary
The new cloud-native platform will initially be rolled out for Virgin Money Australia customers with transactions and savings accounts and in a later phase for term deposit and lending products. Temenos SaaS provides cost and scalability benefits with high security and availability, delivering continuous deployment. As part of the project, Virgin Money Australia will consolidate its range of retail banking products onto a single platform, creating a centralized, seamless, digital-first experience for its customers. Importantly, Virgin Money Australia is uniquely positioned to build on our existing relationships with more than 200,000 loyal customers and a home loan portfolio that has quickly grown to more than $3 billion to effectively compete in the Australian market with challenger and incumbent banks alike. Temenos’ API-led, advanced cloud technology will help Virgin Money Australia remain competitive by offering hyper-personalized customer experiences and enabling new business models such as creating marketplaces of financial services and products.