Banking tech vendor Temenos has been selected by Police Bank Australia to modernise its core banking systems. The bank will deploy Temenos Retail Banking Services running on the Temenos Banking Cloud.
Police Bank taps Temenos for core banking upgrade
Temenos says its cloud-native core processing engine will allow the bank to roll out new digital services at speed as it embarks on a multi-year digital transformation drive.
Craig Bennett, managing director of Asia Pacific at Temenos, says its technology will enhance Police Bank’s banking services “with highly connected and personalised interactions for its members”.
“The banking industry is increasingly seeing that cloud technology is not just a driver of efficiency but an enabler of change,” Bennett adds.
Founded in the 1960s as a police credit union, Police Bank is a member-owned institution that supports the financial wellbeing of Australia’s police and border force community.
The bank recognises that many members, particularly younger recruits, are eschewing traditional banking services and relying on digital-first solutions to access services. Temenos’ Banking Cloud solution, alongside its software-as-a-service (SaaS) analytics, will enable the bank to design, develop and deliver these new products for its members.
Police Bank CEO Greg McKenna says the bank needs to “look far into the future” to ensure it meets the needs of its members at every stage of their lives.
