The outcomes of a sustainability benchmark for Temenos' Microsoft Azure-powered cloud-native banking technology have been made public.

The outcomes show that Temenos' cloud platform supported banks in their efforts to satisfy sustainability targets while effectively managing the erratic demands of digital transactions.

This is in response to the fintech's initial release of its first Responsible Generative AI core banking products.

Temenos: Transaction volume record highwater benchmark

Microsoft ran a benchmark that mimicked a client using Temenos Retail Enterprise Services, which handled 12 million loans in a single instance, with 25 million customers and 38 million accounts.

Temenos has experienced a 52% like-for-like efficiency boost for measured workloads compared to its previous version, having previously established a record highwater benchmark.

Its sustainable architecture has a reported carbon footprint reduction of more than 50%, based on a baseline from 2021 certified by GoCodeGreen.

Leaner design and more efficient code have made this possible, which has reduced the need for infrastructure, processing power, and energy usage.

Temenos can give financial institutions using its cloud-native core banking system real energy savings by improving the sustainable efficiency of its own software.

The enhanced sustainability of Temenos' service, powered by Microsoft Azure, suggests a larger ecosystem of cooperation on decarbonization goals, which banks may use as SaaS or on public cloud.

The CEO of Microsoft's EMEA Financial Services, Christian Sarafidis, states: "We are delighted to see that our partnership with Temenos continues to set new standards for core banking in the cloud."

Microsoft and Temenos have a strategic partnership to address the banks' increasing need for cloud and SaaS banking services. By pooling our collective knowledge, we are spearheading the shift in the financial sector toward greater sustainability.

"The sustainability benchmark on Microsoft Azure shows the unmatched speed and efficiency of Temenos’ cloud-native platform helping banks to decarbonize their operations and grow their businesses sustainably," says Tony Coleman, Chief Technology and Innovation Officer at Temenos.

Temenos has put a lot of effort and money into research and development over the years to create a platform and solutions that are completely cloud-native and make the most of the cloud. Temenos is by far the most environmentally friendly method of doing core banking in the cloud because to its leaner and greener design."

Banks: The era of cloud computing and the demise of private data centers

Perhaps one of the main reasons that 51% of global banking executives (as reported by Economist Impact) concur that banks won't own any data centers in the next five years as data storage will be moved to the public cloud is the long-term advantages of cloud-based core banking systems.

In a study released earlier this year in association with Google Cloud, Mambu reinforced these views by stating that moving to the cloud offers banks a multi-trillion dollar potential.

"Compliance with climate regulation and meeting environmental targets have joined the list of reasons why banks are accelerating the shift to the cloud," says Kalliopi Chioti, Chief Marketing and ESG Officer at Temenos, in closing.

With the support of our cloud-native technology, which enables our clients to drastically cut their carbon emissions, Temenos is dedicated to assisting our clients in meeting their own ESG goals.

"Moreover, we enable banks to monitor their direct and indirect cloud emissions from banking operations with our Carbon Emissions Calculator, a free tool integrated within Temenos SaaS, helping measure progress towards sustainability goals and comply with growing climate regulations."