Switzerland-based Temenos has announced that President’s Choice Financial (PC Financial) selected its services in a bid to expand into the Canadian banking market. As part of their collaboration, PC Financial is set to adopt Temenos retail core banking solution as a SaaS on Microsoft Azure, thus working towards scaling products and extending its banking proposition.

Currently, the company provides a suite of financial products developed to deliver on its objective to support Canadians in their financial journeys. Via its PC Mastercard and PC Money Account services, PC Financial intends to enable customers to reduce banking fees and earn points linked to PC Optimum, one of the region’s loyalty reward programs which has nearly 16 million active members. PC Financial’s development strategy By implementing Temenos’ retail core banking solution as SaaS, PC Financial aims to make product development more efficient, while also expanding its banking proposition through a secure and continuously updated service.

In addition, the cloud-based approach focuses on removing expensive infrastructure investments and allows a simplified integration across the group’s retail brands, thus making daily transactions more convenient and rewarding. Also, the integration of Temenos is set to simplify PC Financial’s end-to-end processes and ensure compliance with regulatory requirements. Moreover, representatives from PC Financial underscored that the partnership with Temenos aligns with their company’s commitment to offering Canadians simplified financial products with increased value. The collaboration provides PC Financial with access to banking capabilities and enables it to focus on delivering enhanced products that support Canadians.

According to Temenos’ officials, the company invested in its platform to assist its clients in complying with applicable Canadian and US banking regulations, allowing them to deploy more efficiently its pre-configured banking features. .