Business & Technology
Temenos launches modular core banking tools for banks
Temenos has launched Composable Retail Deposits and Composable Retail Lending, aimed at banks seeking to modernise retail banking systems in stages.
The launches come as many lenders continue to run deposit and lending operations on older core platforms that are difficult to change and costly to upgrade.
Two products are designed as separate building blocks for deposits and lending, allowing banks to update one area without replacing the entire core system at once.
Core overhaul
The banking software provider said the products are cloud-native and connect with existing systems through application programming interfaces and event-driven links.
Each has its own deployment and upgrade cycle, which should limit knock-on disruption elsewhere in a bank’s technology estate.
The move reflects broader demand among banks for a more gradual route to replacing legacy technology. Rather than undertaking a full core overhaul in a single programme, some institutions are modernising selected functions first, particularly retail deposits and lending, which sit at the centre of day-to-day banking operations.
“Banks need to modernise from legacy systems to stay competitive, but they cannot afford disruption,” said Barb Morgan, Chief Product and Technology Officer at Temenos. “Our Composable Retail Deposits and Composable Retail Lending enable banks to upgrade critical core domains progressively without destabilising existing operations. It is a clear step forward in our composability strategy, focused on delivery, flexibility and customer value.”
Phased approach
Industry analysts have pointed to steady interest in modular approaches, particularly among larger banks, where the complexity of existing infrastructure can make a single large migration harder to execute.
“We see sustained appetite, particularly from large banks, for composable core solutions that enable incremental transformation,” said Bola Rotibi, Chief of Enterprise Research at CCS Insights. “Temenos’ composable approach reflects this reality, giving banks the option to upgrade one capability at a time, prove value, and expand from there as part of a phased modernisation strategy.”
Temenos said the products were developed with design partner clients including Raiffeisen Bank International. Their input was used to shape the products around the operational needs of banks running established core systems.
“Traditional core banking systems are slow to adapt to changing market demands or new technologies,” said Shyam Gopal Rajagopalan, Head of Operations Platform at Raiffeisen Bank International. “Upgrade cycles are often complex and disruptive, with impact extending well beyond the area being changed. The composable approach offered by Temenos provides an opportunity for banks like ours to take a more efficient and controlled path to core banking modernisation.”
Reliance deal
Separately, Temenos said Reliance Bank in the UK will adopt its software-as-a-service platform for core banking, digital banking and payments.
The bank, owned by The Salvation Army, plans to replace legacy systems as part of a broader technology overhaul aimed at improving efficiency and supporting deposit growth.
Reliance Bank serves retail and business customers and has a long-standing focus on ethical and community banking. It offers savings products for individuals, and current accounts, savings and loans for charities and small and medium-sized enterprises.
Under the agreement, the bank will use Temenos software delivered as a managed cloud service rather than operating the technology itself.
The arrangement includes access to its UK Model Bank configuration, intended to reflect local market requirements and reduce the need for additional software customisation.
Cloud platform
The bank is also expected to use Temenos’ architecture to connect with financial technology partners. That could support the lender as it seeks to broaden its customer base while updating the systems behind its current products and services.
“Implementing Temenos SaaS is a key element of Reliance Bank’s digital transformation strategy, providing a resilient, modern infrastructure that will support our growth plans,” said Nikki Fenton, CEO of Reliance Bank. “With Temenos, we’ll be able to scale efficiently and launch customer-centric digital solutions quickly, helping us to grow our deposit base and provide more financial support to charitable and ethical institutions.”
“We’re proud to partner with Reliance Bank on this strategic transformation, and support the bank’s mission to deliver a positive societal impact,” said Mark Yamin-Ali, Managing Director, Europe, at Temenos. “With its flexible, cloud-native architecture, broad functionality and pre-configured capabilities for the UK market, Temenos SaaS will help Reliance Bank to meet the needs of its specialist customer base with agility and speed. This agreement reflects Temenos’ proven ability to support institutions with specific requirements, as well as our strong track record and continued momentum in the UK.”
Jayden, 13 launched Jay’s Bakes from his home in Taunton Road in Bicester on Saturday, June 20.
His late nan, a keen baker herself, was the inspiration behind his passion, as well as time spent helping his uncle with his catering business.
Over the last 18 months he has honed his skills by preparing sweat treats every day after school.
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Determined to turn his hobby into something more, Jayden spent two and a half months researching requirements, gaining his Level 2 food hygiene certificate and officially registering his business, mostly without adult intervention.
After four days of preparation, the business officially launched.
Customers were treated to a wide selection of homemade goods, including M&M cookies, Kinder brownies, Biscoff cookies, Victoria sponge trays, lemon drizzle cups and viral ‘dot cakes’.
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His Kinder brownies proved particularly popular, and by the end of the day he had sold out of everything, taking £210.
Despite feeling “excited and a bit nervous” beforehand, Jayden said the opening was a success, with a strong turnout and positive feedback shared on social media.
His favourite moment came when he officially opened the shed by cutting the ribbon.
Supported by his mum, stepdad, grandparents and uncle, Jayden first began selling from a table in May before building and painting his now-signature blue cake shed.
He now plans to continue baking and selling regularly, bringing his creations to the local community.
Lidl has been given planning permission to build its ninth supermarket in Oxfordshire, despite concerns over flooding.
Aldi opened in Didcot in 2015 and has a supermarket at the Jubilee Way roundabout but shoppers in the town have had to wait over a decade for Lidl to follow.
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South Oxfordshire District Council has now backed plans by the German retailer for a new supermarket in Abingdon Road.
Former Didcot mayor Mocky Khan said: “This give the residents of Didcot more choice, especially when you consider the cost of living environment we have at the moment.
“The town is growing with more new homes being built, and with more growth it’s good to have a wide variety of supermarkets to fit all budgets,”
The plans for the new supermarket were first submitted in 2024.
Didcot Town Council previously objected to the scheme, on the grounds of a lack of flood risk mitigation measures, along with the county council who said there was “insufficient information”.
The town council noted there are “several flooding incidents in the area, especially when the Marsh Bridge water pumps fail”.
But in a report by planning officers granting permission to the supermarket, those issues have now been addressed by Lidl.
The officers said the proposals “largely accord” with the policies around planning, and more can be done to “break up” the car park with greenery.
Planning officers chose to let Lidl build the new supermarket subject to conditions.
They said in a report: “Balanced against this policy conflict is the fact that this is a previously developed site, which is currently in a dilapidated state.
“The proposals represent a significant improvement on the current underutilisation of the site and on its appearance.
“The National Planning Policy Framework and Local Plan set out significant support for the reuse of previously developed land.
“As stated in the applicant’s planning statement, there have been previous enquiries as to the redevelopment of the site that have not come to fruition.
“Given this, finding a viable use for the site is a clear benefit which I consider to be of substantial benefit.”
Thirty-four residents had objected to Lidl’s plans, highlighting concerns over extra traffic, there being no need for another supermarket in the town and there being more appropriate locations to build in their view.
Didcot already has an Aldi store just off Broadway and a Sainsbury’s, M&S Foodhall and Asda.
The nearest Lidl to the proposed site are in Lupton Road, Wallingford, and Marcham Road in Abingdon.
Three people wrote in to support the new Lidl, recognising the benefits of a discount food store and the further jobs it will create.
Lidl has said its proposals for a Didcot supermarket would deliver 40 full-time equivalent jobs as well as further employment during the construction phase.
No opening date was given by the retailer, while the developer is currently on site progressing with the enabling works.
A spokesman said: “We’ve seen demand for our affordable, high-quality products continue to rise in Oxfordshire, and we are committed to serving more communities in the area.
“Our new store will create around 40 new jobs and build on our continued growth.
“We’re excited to be a step closer to opening this store and thank everyone who has supported us on our journey so far.”
It also said the £12m investment would work with the 6,300 new homes allocated to be built, as per the local plan.
Dalcour Maclaren, a specialist in utilities and infrastructure, announced the news on June 22, following a detailed assessment of its operations, including governance, employee wellbeing, environmental impact, and social responsibility.
James Neil, CEO of Dalcour Maclaren, said: “This is a fantastic achievement for Dalcour Maclaren.
“B Corp status gives us the official badge that recognises everything that matters most to us in our culture, our values, and how we make decisions for our people and our clients. We thrive on doing things differently at DM and B Corp absolutely endorses this.”
The certification means the company meets rigorous standards of social and environmental performance, transparency, and accountability.
Dalcour Maclaren now joins more than 10,000 B Corps worldwide and over 2,600 in the UK, including well-known names such as The Guardian, Innocent Drinks, Patagonia, and The Big Issue.
Chris Turner, CEO of B Lab UK, said: “Welcoming Dalcour Maclaren to the B Corp community is hugely exciting. Its commitment to doing business differently will be an inspiration to others and will help spread the notion that success in business is as much about people and planet as it is profit.”
Dalcour Maclaren operates across the UK and Ireland, supporting major projects in energy, water, transport, and digital infrastructure. The company’s services include land, planning, environment, stakeholder engagement, and geospatial services.
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