Société Générale plans transaction banking switch-up with Temenos

Société Générale has selected Temenos to modernise the account management and payment systems of its Global Transaction Banking division in Europe and Asia.

Temenos says the “agile technology” of its platform will enable Société Générale to deliver “sophisticated corporate banking products and services” to “stay ahead of the curve”.

SocGen is a Tier 1 deal for Temenos

Société Générale is swapping existing legacy systems with a suite of Temenos replacements across 13 countries in Europe and Asia.

It’s deploying Temenos Transact for corporate banking functionality and Temenos Payments to drive the payments side, with a focus in Asia.

The vendor says the bank’s international entities will be ISO20022-ready domestically and internationally.

Philippe Morère, global CIO and deputy COO for Société Générale global business and investor solutions, calls Temenos’ platform a “proven solution”.

He adds: “A big advantage of Temenos is the ability to operate a unified platform on-premise or on the cloud.

“Temenos’ unified platform for core banking and payments across geographies will help us to optimise processing efficiencies and enhance service innovations for our transaction banking clients.”

Société Générale has also signed off on a revamp of its private banking operations this year. The bank picked Azqore, with a rollout kicking off in 2022.

Temenos has another connection to the French banking giant through its Czech subsidiary Komerční banka. The vendor provides its Transact platform for the bank’s retail and corporate operations.

“We are proud to partner with such a prestigious Tier 1 bank to accelerate their digital transformation,” says Temenos CEO Max Chuard.

“This strategic modernisation will future-proof the bank’s technology infrastructure, allowing it to transition to the cloud at its own pace.

“To be selected by Société Générale for this important project demonstrates our technology leadership and our shared vision to make banking better.”

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