Contract with Temenos for Core Banking Software
14/09/2022 07:00
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RNS Number : 3545Z Tintra PLC 14 September 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION
11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
14 September 2022
TINTRA PLC
("Tintra", the "Group" or the "Company")
Contract with Temenos for Core Banking Software
The board of directors (the "Board") of Tintra (https://tintra.com/) , the
rapidly innovating Deep Tech & Banking business, is pleased to announce
that it has contracted with Temenos AG ("Temenos"), the Swiss-based
class-leading provider of core banking software, whose existing customers
include a large number of the world's most well-known banks. Temenos will
provide its core banking software to Tintra, which will be integrated with
Tintra's innovative artificial intelligence-based approach to customer and
transaction identification.
Temenos is widely recognised by banking regulators globally for delivering
compliant, innovative solutions at scale. The Temenos core banking software
therefore will provide going forward a key element of the Tintra proposition
as it continues to seek approval for the banking and payments licences that
have been previously announced.
The integration of the Temenos core banking software is a fundamental element
in enabling the roll out of the Company's strategy, as set out in the recently
published annual report. The contract with Temenos involves the delivery of
software as a service ("SaaS") over a 5-year period, with variable elements.
Year One costs are expected to be in the range of US$250,000 to US$500,000
with subsequent year costs increasing as operations start and as customer and
transaction levels scale.
Richard Shearer, the Company's Chief Executive, said "Temenos is the world
leader in providing banking core technology. As such Temenos is the perfect
partner in many ways. As whilst we are innovating in areas where nobody else
is or indeed can, we took the view that we wanted the banking core that was
familiar to the regulators we're speaking to across the world and had been
tried and trusted across a range of territories.
We want to radically innovate where we can but ensure that we are using best
in class tech where we think that others offer benefit, and we strongly feel
this transaction achieves that goal."
For further information, contact:
Tintra PLC 020 3795 0421
(Communications Head)
Hannah Haffield
h.haffield@tintra.com
Website www.tintra.com
Allenby Capital Limited 020 3328 5656
(Nomad, Financial Adviser & Broker)
John Depasquale / Nick Harriss / Vivek Bhardwaj
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