Rakuten Europe Bank is giving its customers cloud banking functionalities through a partnership with banking software company Temenos.

The open banking capabilities which Temenos will integrate into Rakuten’s services, such as Rakuten Pay, are expected to enhance the customer experience, as well as expedite product innovation and market growth. 

Partnering with Temenos will also equip the bank with an upgraded data analytics toolkit that delivers improved data volume processing rates.

Max Chuard, Chief Executive Officer, Temenos, said: “We are delighted to welcome Rakuten Europe Bank to the Temenos Banking Cloud. At Temenos, we share Rakuten’s passion for innovation and are excited to support them achieve their ambitions goals.

“With a global ecosystem of more than 1.6 billion members, Rakuten understands the power of data to empower society. On Temenos Banking Cloud, the bank will have unmatched agility and scalability to enhance its banking capability and member experience.”

Choosing Temenos as a collaborative partner – a company with an already established presence in Europe – underlines Japan-based Rakuten’s ambitions for growth in the region.

Toshihiko Otsuka, Chief Executive Officer, Rakuten Europe Bank, commented: “The move to the Temenos Banking Cloud is an important milestone for Rakuten Europe Bank in its ongoing expansion in Europe. It provides the flexibility we need to scale and extend our banking services.

“Ultimately, our aim is to deliver more value and innovation to enhance the experience for our members in the region.”