Deloitte South Africa and Temenos, a provider of banking software announced a partnership today under which Deloitte will provide consulting services for Temenos core banking implementations across Africa.
Deloitte South Africa is the latest firm in Deloitte’s international network to sign an agreement with Temenos, which already has several global alliances with the consultancy.
Commenting on the alliance between Deloitte South Africa and Temenos, Roger Verster, Head of the Financial Services Industry Sector at Deloitte says that the establishment of a formal agreement will bring the strengths of both companies to bear on the South African and African banking sector.
“This agreement embraces Deloitte Touche Tohmatsu Limited’s global strategy of increasing its technology capability and presence on the African continent within the financial services industry,” says Verster.
Temenos has considerable experience in successfully delivering banking software implementations in South Africa and throughout Africa. We are confident this partnership will become increasingly attractive to the financial services players on the continent,” says Verster.
“Deloitte South Africa is positioned as a multi-faceted financial services firm, which offers a range of services, including risk management expertise to South Africa’s banking sector. Our agreement with Temenos will combine our ability to consult on complex banking matters our ability to introduce new products and services with the proven methodologies, tools and products that Temenos offers. Together we will be able to offer African clients an unrivalled service that will enable them to ‘bolt on’ a range of specialised banking software solutions onto their existing core systems.
Keith Stonell, Temenos Regional Director says that Deloitte’s entry into the South African market will complement its activities in Africa where it serves the interests of several major banks, including the African operations of some of South Africa’s major banking institutions. Temenos offers software solutions across banking disciplines from wealth management to business intelligence through to mobile banking and front-end user interfaces.
“We believe that Temenos, with Deloitte in South Africa will be well placed to bring the advantages of our award-winning banking solutions to the major banks in South Africa,” said Stonell.
“Clients will benefit from the Deloitte/Temenos alliance through the ability of both companies to bring together local market insights and regulatory understanding with a high-level of service on banking IT requirements. We will be bringing to the local market an internationally proven capacity to reduce the cost to income ratio and an increased return on investment on major IT expenditure within banks.”
“At Deloitte our philosophy is that clients will always benefit from a local presence that offers both insight and delivery capability and the best that can be offered internationally,” says Verster concludes
“Our relationship with Temenos in South Africa will offer a strong combination of Deloitte professionals, the consistent methodology of Temenos and specialist skills. The benefit for clients will be the ability to manage the risk involved with complex implementations with increased certainty and quality.”