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Banking tech vendor Temenos was selected to modernize Police Bank Australia’s core banking system. The bank will deploy Temenos Retail Banking services running on the Temenos Banking Cloud.
Police Bank Selects Temenos for Core Banking Upgrade
Temenos says its cloud-native core processing engine will enable the rapid deployment of new digital services as banks embark on a multi-year digital transformation journey.
Craig Bennett, Asia-Pacific managing director of Temenos, said the company’s technology will enhance Police Bank’s banking offerings “through enhanced member connections and personalized interactions.”
The banking industry is increasingly recognizing that cloud technology not only drives efficiency, but enables change, Bennett adds.
Established in the 1960s as a police credit union, the Police Bank is a member-owned institution that supports the financial health of Australia’s police and border guard communities.
Banks recognize that many members, especially young recruits, are avoiding traditional banking services and relying on digital-first solutions to access services. Temenos banking cloud solutions, along with software as a service (SaaS) analytics, enable banks to design, develop and deliver these new products for their members.
Police Bank CEO Greg McKenna says the bank must be forward-looking and ensure it meets the needs of its members at every stage of their lives.
