Australian challenger bank Judo Capital has opted to launch on Temenos Cloud as it bids to break into the country's SME sector.
Melbourne-based Judo recently raised A$140 million in funding and is in the process of acquiring its full banking license as it seeks to take on the big four and grab a slice of the $70 billion of unmet credit demand coming from the Australian SME sector.
The startup has built a fully cloud-based, API-centric, technology ecosystem and has turned to Temenos T24 Core Banking, Channels, Analytics and Financial Crime Mitigation tech to power its charge.
It says that by tapping Temenos Cloud, it can focus entirely on its customers rather than managing IT systems.
Alex Twigg, CIO, Judo, says: "Judo’s mission is to bring back the craft of relationship banking, powered by the best of modern technology. With Temenos’ commitment to providing core banking as-a-service, we can continue to focus on empowering our customers, the businesses that are the backbone of the Australian economy."
Judo is just one of a host of challengers busy rushing to take advantage of new rules that let them enter the Australian market. One of those, Volt, has also signed or Temenos Cloud. It has been a busy week for the Swiss vendor, which has also won a deal with Praxia, a Greek digital challenger backed by Bob Diamond.