UK’s Aldermore Bank selects Temenos to launch new small business savings notice accounts

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UK-based specialist lending and savings bank will use Temenos Business & Corporate Enterprise Service to rapidly deploy new products and increase efficiency

GRAND-LANCY, Switzerland, Feb. 04, 2025 (GLOBE NEWSWIRE) -- Temenos (SIX: TEMN) today announced that UK-based Aldermore Bank (Aldermore) has selected Temenos SaaS to modernize its existing savings operations starting with quickly launching new savings notice accounts for small businesses.

The bank will adopt Temenos Business & Corporate Enterprise Service to achieve a fast time to market and scale efficiently as it seeks to grow customer deposits and unlock new sources of revenue. Using Temenos’ end-to-end service for business and corporate banking, Aldermore will leverage pre-configured, proven capabilities across core and digital banking, to enable rapid deployment of its new products.

Following the launch of these, Aldermore will also migrate its existing business savings accounts to Temenos, consolidating multiple legacy systems on a single, cloud-based solution with the highest security standards. This will enable the bank to increase efficiency and deliver exceptional experiences in line with its customer-centric business model.

Part of First Rand Group, the largest financial services group in Africa, Aldermore is a multi-specialist lending and savings provider with total assets of £20.5bn. The bank is focused on helping groups underserved by mainstream providers, particularly SMEs, homeowners, landlords and intermediaries.

With Temenos Business & Corporate Enterprise Service, Aldermore will benefit from high levels of automation to easily configure banking services that meet the specific needs of its client base. Leveraging, pre-packaged capabilities tailored to the UK market, as well as pre-defined user journeys and proven processes, Aldermore will be able to quickly move these into production and scale according to customer demand on a proven, modern solution.

Alex Myers, Commercial Director for savings at Aldermore Bank, said: "This strategic technology investment will help us to rapidly expand our offering, providing more customer-centric solutions and exceptional experiences for the underserved small business market. With Temenos SaaS, we can launch new products in record time, with the agility to adapt to the changing needs of our customers.”

Mark Yamin-Ali, Managing Director, Europe, Temenos, commented: "We’re delighted Aldermore has chosen Temenos SaaS to help drive its expansion of business savings. Aldermore prioritized both advanced technology and robust functionality, and Temenos was the only provider that met both needs. With pre-configured, proven capabilities tailored to the UK market and the small business sector, Temenos will help the bank to deliver a much faster time to market and increased efficiency as it looks to drive future growth.”

Temenos is the global market leader in banking software, ranked #1 by IBS Intelligence in eight categories, including core, digital and Islamic banking, in the latest IBS Intelligence Sales League Table. Temenos was also named a Leader in the The Forrester Wave™: Digital Banking Processing Platforms, Q4 2024.

About Aldermore Bank
Aldermore backs more people to go for it, in life and business. We get finance to people who want to get on in life; building businesses, buying property and purchasing vehicles. And we champion equality by supporting those that the big traditional banks can’t or won’t help.

The Group consists of two operating companies, Aldermore Bank plc and MotoNovo Finance Limited. Aldermore Bank provides finance to business owners, homeowners and landlords, and supports savers. It operates online, by phone and through networks. MotoNovo Finance helps people buy their next car, van or motorcycle.

Aldermore Group is part of FirstRand Group, the largest financial services group in Africa by market capitalisation.

About Temenos
Temenos (SIX: TEMN) is the world’s leading platform for banking, serving clients in 150 countries by helping them build new banking services and state-of-the-art customer experiences. Top performing banks using Temenos software achieve cost-income ratios almost half the industry average and returns on equity 2X the industry average.

For more information, please visit www.temenos.com.