Nagarro signs agreement to license and develop Temenos country model banks for Romania and Poland

Geneva, Switzerland, January 30, 2024 – Nagarro, a global digital engineering leader today announced that it has signed an agreement with Temenos (SIX: TEMN) to license and further develop Temenos Country Model Banks for financial institutions in Romania and Poland. The agreement opens new opportunities for growth with enhanced local functionality and service capability in these markets.

Country Model Banks are a key differentiator for Temenos and through such licensing agreements, Temenos is able to scale this competitive advantage, further developing and also building new model banks compatible with the banking solutions on Temenos’ composable platform and SaaS offerings on Temenos Banking Cloud.

As part of this new agreement, Nagarro is committed to invest in and develop regulatory and business-specific localized functionality to enhance these Model Banks for financial institutions in Romania and Poland.

Nagarro, which has over 19,000 experts in 36 countries, has been operating in Romania since 1998 and in Poland since 2014 across 7 delivery centers. The Country Model Bank agreement enables Temenos customers to benefit from Nagarro’s already well-established presence and regional expertise.

With over 25 years of experience in the industry, Nagarro supports the end-to-end BFSI spectrum, including core banking, payments, lending & leasing, mobility & cognitive services, and financial services (investment banking, asset & wealth management).

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. Nagarro was also awarded the ‘APAC Temenos Delivery Partner of the Year’ award in 2023.

Vishwanath Rajashekarappa, a co-founder, Nagarro, commented: "We are delighted to be granted this license 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 optimize their businesses on the Temenos banking platform.”

Ross Mallace, EVP, and Global Head of SaaS & Partner Ecosystem, Temenos, said: “We are excited to announce this agreement with Nagarro, which opens new opportunities 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.”

About Temenos

Temenos (SIX: TEMN) is the world’s leading open platform for composable banking, creating opportunities for over 1.2 billion people around the world every day. We serve 3000 banks from the largest to challengers and community banks in 150+ countries by helping them build new banking services and state-of-the-art customer experiences. The Temenos open platform helps our top-performing clients achieve return on equity three times the industry average and cost-to-income ratios half the industry average.

For more information, please visit www.temenos.com

About Nagarro

Nagarro, a global digital engineering leader, helps clients become fluidic, innovative, digital-first companies and thus win in their markets. The company is distinguished by its entrepreneurial, agile, global character, CARING mindset, and Fluidic Enterprise vision. Nagarro employs over 19,000 people in 36 countries. For more information, visit www.nagarro.com.
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