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NuoDB & Temenos at TCF2019: Your On-Ramp to Next-Gen Core Banking
Apr 3 2019
This week we’re excited to join Temenos at the Temenos Community Forum, our first public event since partnering with them in November. Since then we’ve been working closely to deliver the cloud innovation that will help banks migrate their critical applications to the cloud. Global consumer demands are driving organizations to rethink how they architect their systems — today, customers of banks and financial service organizations expect the same experience from their bank that they get from Twitter and Netflix in terms of availability, responsiveness, and performance.
The Journey to the Cloud Through Digital Transformation
When banks and financial services organizations began to tackle Digital Transformation initiatives, they quickly determined that the database created challenges for cloud migration and adoption goals. It’s not hard to understand why - the relational database management systems (RDBMS) that they had relied on for years didn’t transfer well to the cloud. Cloud transformation aims to deliver on-demand computing services, which enable the agility and responsiveness that legacy RDBMS simply don’t have. What they really needed was a cloud-native, distributed SQL database. As we move to a future when computing and consuming is increasingly distributed, a distributed database becomes essential.
Benefits of a Distributed Database
Migrating applications and workloads to a distributed database unlocks the power of cloud technologies and gives organizations control over when, how, and where they embrace cloud adoption. At the Temenos Community Forum, we’ve enjoyed the opportunity to discuss the benefits that NuoDB offers to the Temenos community. Our distributed SQL database includes:
- Deployable in any on-premise environment with a seamless transition into any public or private cloud
- Built for on-demand scale: scale-out when capacity demands increase and scale-in once those demands are met, which drives down costs and reduces total cost of ownership
- Designed to be continuously available and adhere to the rules of traditional SQL databases
For banks determined to embrace innovation and deliver solutions built for increasing consumer demands, NuoDB’s distributed database acts as a linchpin in their cloud strategy.
Temenos Partnership with NuoDB
At NuoDB, we’re excited about our partnership with Temenos because they’re dedicated to challenging themselves to provide the best services for their customers. In today’s tech environment that means keeping up with the latest technologies and, more importantly, staying ahead of the changing marketplace. As consumers demand the conveniences that digital banking offers and enterprise banks embrace cloud-native and cloud-agnostic technologies, Temenos is thinking about how to deliver for both consumers and their customers - and how to think about what’s next. NuoDB’s distributed in-memory SQL database technology, in concert with Temenos T24 Transact, delivers on the challenges of today while developing and designing for the future.
Our partnership is strategic and strengthens our commitment to ensuring that our banking clients running Temenos software benefit from scale-out simplicity, elasticity and continuous availability, and that they can ultimately maximize the benefits of their shift to the cloud.
- Max Chuard, Chief Operating & Financial Officer at Temenos
In any highly transactional environment, particularly banking, which relies on continuous availability, scalability and reliability, organisations need flexibility and control. Temenos T24 Transact running on NuoDB across two cloud providers provides both, setting them apart from the rest of the marketplace.
TCF 2019: Digital Banking Reloaded
The pace of innovation we see at the Temenos Community Forum is inspiring. The theme here this year is Digital Banking Reloaded, and we see it all around us - in every booth and with every Temenos customer we talk to. There are certainly challenges as we move into new business models and determine how to plan for new regulations, but cloud-native, cloud-agnostic technology will help banks innovate and create at speeds they couldn’t have imagined just a few years ago.
We’re excited to join Temenos to offer banks an option that works for them as they migrate their banking applications to the cloud. Our database works with T24 Transact to horizontally scale-out to meet the peak demands of close of business processing, but then scale back during the rest of the day. This relationship is transformative for the banking industry, because they achieve distribution at all layers of the technology stack without losing the context and complexity of SQL.