How Temenos and MongoDB Change the Core Banking Landscape
Banking solutions were developed a long time ago and usually have a life cycle of decades. Interestingly, it’s not rare to see systems built in the 1980s followed by another wave of core banking systems built in the 1990s. These architectures were optimized under different constraints meaning it is not surprising that they fail to support today’s scale and pace of change.
What should a modern architecture for such a system look like? And how can this migration work?
Temenos, one of the world’s primary core banking software providers, have recently announced that they will support MongoDB as one of their database technologies for their TRANSACT offering. Choosing MongoDB in a combination with appropriate technologies is what makes it possible to build scalable and flexible applications and application landscapes with lower cost per operation than ever before.
Download the white paper to learn:
- How a modern architecture allows for a better banking future with the ability to innovate faster and enhance current offerings quicker
- Why Temenos and MongoDB have joined forces to create a componentized banking world
- The value achieved when moving from a legacy database technology to the innovative MongoDB developer data platform
- How to achieve performance at scale, with insights into a recent Temenos benchmark where Temenos processed 200 million embedded finance loans and 100 million retail accounts at a record breaking 150,000 transactions per second on Microsoft Azure with MongoDB database