Temenos Makes Way into the US Markets, After Acquiring the Akcelerant-derived Business & User-base

BFSI News

Temenos-Makes-Way-into-the-US-Markets-After-Acquiring-the-Akcelerant-derived-Business-User-base Temenos Makes Way into the US Markets, After Acquiring the Akcelerant-derived Business & User-baseTemenos, a Geneva, Switzerland-based enterprise software company, as per recent press reports, is claiming to make headways into the US markets with its Lifecycle Management Suite, albeit at existing customers. Maps Credit Union, Hudson Heritage Federal Credit Union, and Guardian Credit Union, all three as per reports have taken up new modules.

Maps CU, a Mid-Willamette Valley, Oregon-based community credit union, with over $741 million in assets, added origination for the lending and account opening process to its existing collection platform.

Toni Silbernagel, SVP of Lending, Maps CU, was seen citing, “streamlined underwriting and workflow capabilities, a holistic view of our account holders across the collections and lending departments, and optimized front-end features” for the choice.

Additionally, the New York-based Hudson Heritage, with over $400 million in assets and around 40,000 credit union members, also has taken origination for the account opening process, and further added features like mobile and online onboarding, after going LIVE online, last year in Nov. 2018, with the origination for lending.

And at last, the Alabama-based Guardian, with reports of $487.5 million in assets, signed up for origination for the lending and account opening process, last year (2018) and has now taken the collection module.

With over 600 financial institutions using the Lifecycle Management Suite in North America, the low-end solution for credit unions was previously known as the Akcelerant Framework, it was in early 2015 when Temenos acquired the Philadelphia-based Akcelerant as part of the supplier’s switch to an acquisition strategy, prior to this acquisition, Temenos couldn’t make much leeway into the US markets.