Global engineering company Nagarro has signed an agreement licence with Temenos to develop model banks of the latter for financial institutions in Romania and Poland.
The agreement opens new opportunities for growth for Temenos with enhanced local functionality and service capability provided by Nagarro in the selected markets.
Country Model Banks are a key differentiator for the cloud banking solutions firm and through such licensing agreements, Temenos is able to scale with partners by further developing and also building new model banks compatible with the banking solutions on its platform.
Ross Mallace, EVP and Global Head of SaaS & Partner Ecosystem atTemenos, said: “We are excited to announce this agreement with Nagarro, which opens new opportunities for Temenos with financial institutions in Romania and Poland.
“Nagarro will become a trusted partner for the development and maintenance of Country Model Banks for these two countries and help customers in their progressive technology renovation. Such agreements bring additional value to our platform, which benefits our clients and ultimately delivers incremental growth for Temenos.”
As part of the new agreement, Nagarro is aiming to develop regulatory and business-specific localised functionality to enhance the Temenos Model Banks for financial institutions in Romania and Poland.
Nagarro has been operating in Romania since 1998 and in Poland since 2014, across seven delivery centres. The Country Model Bank agreement enables Temenos customers in these markets to benefit from Nagarro’s already established presence and regional expertise.
This agreement builds on the strong existing relationship between the two companies, which has seen Nagarro complete more than 43 successful projects involving Temenos Transact implementation and transformation, along with 20 Temenos upgrades, and engage in 350 projects across diverse Temenos solutions.
Vishwanath Rajashekarappa, Co-Founder of Nagarro, added: “We are delighted to be granted this licence by Temenos to develop Country Model Banks to drive growth and customer success.
“This agreement is a testament to our capabilities as a long-standing partner of Temenos and our knowledge of local market practices and regulations. We look forward to helping clients in Romania and Poland scale and optimise their businesses on the Temenos banking platform.”