Police Bank selects Temenos Banking Cloud to modernise community banking

Temenos have announced that Police Bank has selected Temenos Retail Banking Services running on the Temenos Banking Cloud to modernize its core systems. Police Bank is building a bank fit for the modern economic and banking environment with digital services to support long-standing members and attract a younger demographic. Temenos’ open, cloud-native platform will allow the bank to deploy new services faster and cost-effectively.

Police Bank started as a police credit union in the 1960s. Today, it remains a member-owned institution that supports and empowers the financial well-being of the police and border force community. The bank recognizes that Australians are increasingly choosing technology options over traditional banking methods. It has embarked on a multi-year digital transformation journey to build a better, faster, more secure way for its members to access services.

Temenos’ flexible and agile core processing engine with powerful analytics delivered as SaaS (Software-as-a-Service) on Temenos Banking Cloud will help Police Bank build for change, and quickly design and deliver products that match the needs of its unique membership.

Greg McKenna, CEO of Police Bank said, “As we aim to be Australia’s most member-obsessed bank, we need to look far into the future to build a bank that can partner with our members through every stage of their lives. That means having the means for them to access our services when and how they want. The Temenos Banking Cloud gives us instant access to an extensive set of composable banking services to migrate existing products and build on ancillary services in the future, making it better for members to transact with us and our employees to work for us. This will, in turn, fuel growth and strengthen the bank for generations to come.”

Craig Bennett, Managing Director of Temenos Asia Pacific added, “The banking industry is increasingly seeing that cloud technology is not just a driver of efficiency but an enabler of change. We look forward to powering Police Bank’s digital transformation, which will enhance its banking services with highly connected and personalized interactions for its members. We have experience working with over 200 financial institutions in Australia, and Police Bank builds on our strong momentum as the platform of choice for the region’s pioneering banks.”