A Geneva-based company, Temenos accelerates to expand market in Bhutan’s Financial institutes

The Temenos company claims that banks in Bhutan will benefit from accelerated modernization timelines, increased efficiency and scale in operations, and greatly enhanced customer experiences

In order to expand operations in India, Sri Lanka, Nepal, and Bhutan, the global banking platform Temenos and the digital transformation company Bahwan Cybertek (BCT) announced they have signed an exclusive agreement for seven years.

According to the agreement, BCT will promote, implement, and support Temeno’s products and solutions in these nations. It will also assist Temenos in broadening its market reach and enhancing its local knowledge.

However, the Banks in Bhutan (BoB) will be able to free themselves from the limitations of their legacy systems and transition to Temenos’ modern, open platform for composable banking with the help of the company. Temenos has deep financial services industry expertise and comprehensive services capabilities.

According to S Durgaprasad, cofounder, director, and group CEO of BCT. “We are happy to establish this cooperation with Temenos as it broadens our exposure and influence in the banking sector. Financial institutions are under a lot of pressure from the market, rules, and rivalry from new companies. As a result, we are well-positioned to help banks and other financial institutions undergo a digital transformation”.

Temenos will be able to see its profitability and cash flow more clearly thanks to this deal, which will also enable it to build its business more quickly and provide its customers more attention in these four nations according to the press release from the company.

Meanwhile, Temenos is a company specializing in enterprise software for banks and financial services, with its headquarters in Geneva in Switzerland, and has been listed on the Swiss stock exchange since 2001.

Temenos will be able to see its profitability and cash flow more clearly due to this deal, which will also enable it to build its business more quickly and provide its customers more attention in these four nations.

Erich Gerber, president, and chief revenue officer of Temenos, stated, “We are thrilled to announce this exclusive deal with BCT, which expands our addressable market and accelerates our growth through new business prospects in these locations.

According to S.Durgaprasad (DP), Co-founder, Director & Group CEO, of BCT, Financial institutions are facing intense pressure from customer demands, regulations, and fierce competition from new players entering the industry.

“Our strong financial services offerings, deep regional expertise, and services capability combined with the power of Temenos’ leading banking platform, places us in a strong position to drive digital transformation for banks and financial institutions.”

Tshering Pelden from Thimphu