Temenos takes minority stake in NuoDB

Source: Temenos

Temenos (SIX: TEMN), the banking software company, today announced it has entered into a Technology Partner Agreement with NuoDB, an enterprise-class distributed SQL database provider.

This partnership will give the global banking community greater choice of next generation Cloud & Container-Native database technologies that are able to run the Temenos banking software products. This partnership further strengthens Temenos open strategy to work with all database vendors that are able to answer the demands of scale in the cloud. Additionally, Temenos has made an investment into NuoDB, taking a minority stake in the business.

Banks of all sizes around the globe are migrating more of their banking applications to the cloud and benefiting from significant speed, agility and performance improvements. Temenos and NuoDB have been at the forefront of cloud innovation and this partnership will make it significantly easier for banks to migrate critical applications to the cloud while maintaining their end-user experience and benefiting from significant operational cost savings.

Max Chuard, Chief Operating & Financial Officer of Temenos, commented: “We are continuously investing in the development of our leading digital banking platform and ensuring that our software is built for the cloud. This investment and partnership demonstrates our strong belief in NuoDB’s strategy and technologies for next generation cloud based technologies. Our partnership with NuoDB 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”

Through this partnership, Temenos will ensure that the technology delivered for both the Temenos SaaS solutions as well as the Temenos cloud platform will offer clients:

• Better Performance - unlimited processing capacity available to meet the huge increases in banking transactions
• Better Scalability - auto-elastic scalability to meet the continuous changes in demand
• Better Availability - active/active resilience across data centers, geographies and cloud platforms

Bob Walmsley, Chief Executive Officer of NuoDB, commented: “We are very excited to take our relationship with Temenos to a strategic level. NuoDB has spent the better part of a decade overcoming the inherent challenges that exist when building an enterprise-class, distributed SQL database that runs in the cloud while adhering to the standards that are required in a relational SQL database. This investment by Temenos and the technology partnership agreement we have in place will help deliver this technology to banks of all sizes across the globe.”
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