Rubik Model Bank launched in partnership with TEMENOS
30 SEP 2016PREV
Leading fintech company, Rubik Financial Ltd (Rubik) (ASX:RFL), today announced it has executed an extension to its long-term, exclusive partnership with Temenos. The announcement comes at the same time Rubik announces the launch of its Rubik Model Bank solution, bringing modern banking technology to the Australian Market. Rubik Model Bank is a next generation, digital banking platform specifically tailored for Australian Credit Unions and other ADI’s, leveraging Temenos’ award winning ‘front-toback’ technology used by over 2,000 financial institutions globally. The system has been built as a robust SaaS platform therefore removing the costly need for banks to internally maintain or regularly upgrade their systems. “Following our licensing of Temenos’ digital banking solution, edgeConnect, earlier this year, we fundamentally believe in the need for financial institutions to adapt to meet modern consumer expectations. Legacy systems are no longer an option to keep existing and new customers engaged. Combining our expertise in this space, and the proven power of Temenos’ products, we believe we have built a ‘future-proof’ solution that will allow Credit Unions and Mutuals to offer a modern banking experience without the need for significant upfront investment”, said Rubik CEO Iain Dunstan. “We executed this extension sooner than was outlined in our Annual Report due to our very strong pipeline of opportunities and we hope to announce some new client contracts in the not too distant future.” Temenos’ Regional Director for Asia Pacific, Martin Frick said, “We’ve enjoyed a strong partnership with Rubik for the past 8 years. Strengthening this provides us with a ‘Model Bank’ SaaS solution built specifically for Australia which will allow smaller institutions to scale and grow without the need for significant upfront investment. As we invest over 20 per cent of our revenues back into our research and development, we believe that all institutions will benefit from the ecosystem that we have built in partnership.
Rubik Financial Limited (Rubik) (ASX:RFL) is a leading ASX listed technology company that delivers innovative wealth management, mortgage broking and banking solutions both in Australia and internationally. It is the largest Australian Financial Services software house by client numbers, servicing 110 out of 171 Australian ADIs. Rubik is committed to delivering smart, connected technology that enables clients to deliver efficient and profitable outcomes to their customers, every day. Unique in terms of its integrated product set, Rubik allows end users to service their clients’ current and future needs across the entire financial spectrum. Rubik is ISO 9001 and ISO 27001 certified. For more information please visit www.rubik.com.au
Temenos Group AG (SIX: TEMN), headquartered in Geneva, is a market leading software provider, partnering with banks and other financial institutions to transform their businesses and stay ahead of a changing marketplace. Over 2,000 firms across the globe, including 38 of the top 50 banks, rely on Temenos to process the daily transactions of more than 500
million banking customers. Temenos customers are proven to be more profitable than their peers: in the period 2008-2014, they enjoyed on average a 31% higher return on assets, a 36% higher return on equity and an 8.6 percentage point lower cost/income ratio than banks running legacy applications.