Syncordis, Temenos and Telindus launch a SaaS offering for the banking industry

LUXEMBOURG – October 08th, 2020 – Syncordis, a specialist global implementation services partner in strategic collaboration with Telindus, the award-winning provider of Cloud, ICT and telecom services have selected Temenos’ leading SaaS technology to introduce a Luxembourg-based Software as a Service (SaaS) solution for private banks.

The Luxembourg-based SaaS solution based on Temenos SaaS Technology offers financial institutions a complete and futureproof “bank in a box”, fully hosted and operated from Luxembourg. The combined expertise of Syncordis and Telindus, with Temenos SaaS technology ensures that this solution meets the regulatory requirements and business needs of the Luxembourgish banking industry while its deployment model streamlines banks’ operational set-up. This model leverages the benefits of SaaS, namely outsourcing IT, as well as generating increased agility, scalability and security.

By design, this offer powered by Temenos SaaS technology integrates organizational and technical capabilities for remote management of the technical and application infrastructure. Security being the central axis of the architecture, all the elements of the chain (laptops, networks, data center) have been designed to guarantee the maximum data integrity of Syncordis’ clients. At the heart of this system, a secure platform requires that all connections to the data center be initiated from Luxembourg, regardless of the consultant’s actual location. All connections are managed by a Privilege Access Management tool which guarantees a permanent, secure and monitored access (via recording of sessions), even in the most exceptional cases.

This regulated and flexible approach enables Syncordis to customize and scale its services to the individual client’s needs, and even operate as an external Business Continuity Center through its PSF.

Guillaume Desjonqueres, CEO, Syncordis said: “Since the years we have observed that banks outsource the implementation and the continued evolution of their information technology systems. Today they are discovering the advantages of cloud-based solutions over traditional on-premise ones. Accelerated deployments, standardization, optimized costs and on-demand scalability associated with cloud and Software as a Service (SaaS) operating models, have made them extremely popular with companies looking to enhance business agility and future-proof their business.”

Alain Vansnick, Regional Director, Benelux and Nordics, Temenos added: “We are pleased that Syncordis and Telindus have selected Temenos SaaS technology. Banks are challenged with increasingly complex regulations, demanding customers seeking for new hyper-personalized products, and the rise of new competitors like Big Techs. In this new environment, financial institutions need to rethink their business models and embrace cloud and SaaS technologies to reduce their time to market and operational complexity, as well as elastically scale and deliver outstanding digital customer experiences.” 

Jacques Ruckert, Chief Solutions & Innovation Officer, Proximus Luxembourg, completed: “In Luxembourg, financial institutions benefit from a specific legislation applying to service providers that enter into outsourcing arrangements with them. This ensures that service providers are regulated and supervised to the same extent as financial institutions themselves. Telindus, as a regulated service provider, offers state-of-the-art private cloud services to the financial community, ensuring that banks can concentrate on their core business, thus supporting them in their move to a new operating model.”

This unique combination of capabilities and assets in terms of hosting, application management, services and industry expertise offers clients a very attractive alternative to an on-premise deployment with improved levels of security and reliability. Syncordis’ SaaS solution allows its clients to drive their digital transformation journey, to focus on their core business and to optimize their business performance.