Temenos (SIX: TEMN), the global banking software company announces that New Zealand bank TSB has gone live with Temenos Infinity for online account opening and onboarding in just nine weeks.
TSB implemented Temenos Infinity, the breakthrough digital front office product, to accelerate customer growth by giving New Zealanders the ability to join the bank via the easy-to-use, website application process. Included in the short implementation period was API-based connectivity for workflow integration directly with TSB’s existing Microsoft Dynamics CRM system.
TSB is the seventh largest bank in New Zealand, and is regularly recognized for its outstanding customer service. This strategy has made it New Zealand’s leading bank in customer satisfaction, with a rate of 88.5% for the 12 months to December 2018. Recently it won the KPMG 2019 Customer Experience Excellence Award and the 2019 Consumer NZ People’s Choice Award for banking. Motivated by its customer-first strategy, TSB implemented Temenos Infinity to transform its onboarding process into a faster, consistent customer journey.
With its open, API-first design, Temenos Infinity can be easily implemented in third-party core banking, back office and CRM systems. Since going live, Temenos Infinity has shortened the time needed to complete customer applications and insert the completed digital application directly into the TSB back office process. It now provides applicants with the option to “save and resume”, returning to an application later, on any channel, without the need to start over. By deploying Temenos Infinity TSB has enhanced its self-service options while continuing to deliver a consistent, high-quality customer experience.
Hamish Archer, TSB General Manager - Technology said: “We want more Kiwis to experience our world-class service, so we’re excited to use technologies like this which work seamlessly alongside our people, who genuinely care about doing the best for our customers. When New Zealanders join us using the Temenos Infinity technology, we make sure we add the personal TSB touch, by following up with a call to ensure the customer is getting the right products and outcomes to suit their needs. Our partnership with Temenos is already proving successful, since going live 40% of new customers have chosen to join us online, without needing to come into a branch. We’re thrilled with the success of the partnership so far and look forward to continuing to deliver a superior customer experience together.”
Martin Frick, Managing Director - APAC, Temenos, said: “We are delighted that TSB has chosen Temenos to power its growth, and that they are already starting to see results from the implementation. Temenos has a dominant presence in the region, and this partnership strengthens our footprint further. With Temenos Infinity, TSB gains leading customer acquisition capabilities, and unprecedented speed and agility. We are delighted to support TSB as it continues to put its customers first, and uses technology and banking to have a positive impact on its community.”