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Haventree Bank selects Temenos to scale lending and banking services

Haventree Bank, a prominent Canadian Schedule 1 bank, has announced a strategic partnership with Temenos, a global leader in banking software.

This collaboration aims to leverage Temenos’ advanced core banking Software-as-a-Service (SaaS) to propel Haventree Bank’s digital transformation, enhancing agility, performance, scalability, and security.

  • Editorial Team
  • June 28, 2024
  • 2 minutes

Haventree Bank, a federally regulated Schedule 1 bank in Canada, has recently announced a strategic partnership with Temenos, a leading banking software company. This collaboration aims to support Haventree’s digital transformation and business growth, particularly in the alternative mortgage market. Haventree Bank serves individuals underserved by traditional financial services through a broker network, and this partnership is a significant step in their growth strategy.

The decision to partner with Temenos is a pivotal move for Haventree Bank. Temenos, recognised as the #1 best-selling banking software in eight categories by IBS Intelligence, brings a wealth of experience and a proven platform to the table. Haventree Bank’s choice of Temenos was driven by the need for a scalable Software-as-a-Service (SaaS) solution that offers business agility, improved performance, scalability, and enhanced security. This partnership will enable Haventree to deploy cloud-native, API-first banking capabilities rapidly, ensuring a modern and adaptable IT environment.

Haventree Bank’s primary objectives with this partnership include enhancing business agility, performance, scalability, and security. By leveraging Temenos’ core banking SaaS, Haventree aims to focus its resources on clients and partners, driving transformation and innovation.

Fern Glowinsky, President and CEO of Haventree Bank stated, “As we continue making strategic investments in technology to expand and deepen our client relationships, we are excited to be partnering with Temenos for Haventree Bank’s new core banking platform. This new platform will help power the expansion of our product suite and further our digital transformation towards Haventree 2.0.”

The technological aspects of Temenos’ platform, such as its cloud-native and API-first approach, are crucial in supporting Haventree Bank’s innovation efforts. These features will enable Haventree to offer improved service delivery and product offerings, ultimately benefiting their customers.

Philip Barnett, President of Americas at Temenos, commented, “By selecting Temenos, Haventree Bank has chosen a strategic technology partner that offers scalability, operational efficiency, and the ability to grow alongside their business. With a commitment to the Canadian market, Temenos is dedicated to supporting Haventree Bank in its vision for the future of banking – built on trust and innovation.

“We offer a proven, scalable SaaS model with localisation and we continue to invest, making our offering the most compelling in the market. Temenos has a platform with extensive delivery and migration experience in the Canadian market, with clients ranging from established to digital banks.”