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NORTH AMERICA
TEMENOS AND CANADIAN WESTERN BANK ANNOUNCE NEW BANKING PRODUCT FOR SMES
Temenos Virtual COO will enable banks around the world to deliver tailored experiences that help SMEs navigate a complex and constantly changing landscape , and provide an open banking ecosystem for a centralised , next-generation experience . With this innovation , CWB will cement its position as a trusted advisor for SMEs in Canada and a pioneer in financial services .
CWB is known for the relationship-based client experience it offers Canadian business owners . The bank has been a Temenos customer since 2012 when it began its transformation with Temenos Transact , the next generation in core banking . CWB also selected Temenos to deliver personalised , end-to-end digital experiences with Temenos Data Lake and Temenos Infinity , forming a strategic relationship .
Temenos , a banking software company , has announced it is partnering with Canadian Western Bank ( CWB ) on a pioneering innovation to support SMEs with financial decisionmaking and growing their businesses .
The new solution , Temenos Virtual COO , is built on Temenos Infinity , a leading omnichannel digital banking product , and leverages Temenos Analytics and Explainable AI ( XAI ), API-first , cloudnative technology .
Temenos Virtual COO will offer relevant insights to accelerate the growth of small businesses and put business owners in control of their companies ’ financial destiny . SME owners will be able to simulate different business scenarios with XAI-driven modelling enabling them to identify the best course of action for their business .
The new solution will aggregate financial banking and business data to provide a consolidated realtime view of an SME ’ s financial health and lighten the administrative burden so that business owners can spend more time on their business .
Temenos Virtual COO is the next phase of CWB ’ s ongoing commitment to deliver a differentiated digital banking experience that empowers SME owners .
Chris Fowler , President and CEO , Canadian Western Bank , said : “ It ’ s important now , more than ever to offer innovative digital solutions that ease the challenges that business owners face as they look to grow and maintain a business , especially during a pandemic . “ Temenos has been a key strategic partner for us on our Digital Transformation journey and we are impressed with their focus and investment in innovation . We are excited to partner with Temenos to bring to market a data and intelligence-driven solution that will offer real-time insights and a holistic view , empowering SMEs to grow .” �
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IT ’ S IMPORTANT NOW , MORE THAN EVER TO OFFER INNOVATIVE DIGITAL SOLUTIONS THAT EASE THE CHALLENGES THAT BUSINESS OWNERS FACE AS THEY LOOK TO GROW AND MAINTAIN A BUSINESS , ESPECIALLY DURING A PANDEMIC .
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