How healthy is your core banking system?

Feb 13, 2023 by Ian King



In brief

  • Downtime is a significant concern for financial institutions, as it can lead to revenue loss, regulatory fines, and loss of consumer confidence 
  • Luxoft offers a Temenos core banking system health check to help uncover weaknesses in the system architecture and enhance operational efficiency  
  • Health check outcomes highlight operational constraints, bottlenecks and adverse events together with considered fixes and a findings and recommendations report 


Taking longer and longer to complete everyday tasks, even in less pressurized periods? Overcomplicated system architecture causing confusion? IT maintenance bill rocketing through the roof?


We can help. A Temenos core banking system health check from Luxoft de-risks and accelerates digital transformation, pinpointing issues and remedies before getting you back on track, as good as new.

Banking is becoming more challenging by the minute. Banks are under constant internal and external pressure to improve performance. Escalating data and transaction volumes, shrinking margins and nonstop market upsets, plus an endless stream of revised compliance and strict regulatory requirements, are inflating cost pressures. To cap it all, users expect core processes to run at full speed all day without interruption.


Don’t risk downtime


Downtime is an operational curse, particularly in the banking industry. Persistent, unforeseen outages punch holes in revenue, market share and consumer confidence while opening up the bank to stringent regulatory fines. Financial institutions cannot afford to rupture the smooth running of their businesses. That’s why the Temenos core banking system audit has become a critical factor in performance and maintenance.

Core banking systems coalesce with countless other systems and processes in an intricate relationship that costs a high percentage of the annual IT budget to manage. A core banking system health check uncovers weaknesses in the architecture, revealing practical ways to minimize risk, strengthen resilience and improve operational efficiency.

Integrating a series of new products, services or functions? Running a core banking system audit would confirm whether or not everything is operating as it should. And adopting Temenos’ fully hosted solution would give you a faster time-to-market as well as a reduced total cost of ownership (TCO).


Temenos, the world’s #1 core banking system software from Luxoft


Temenos core banking system software enables traditional banks and pure-play market disruptors to enhance their ability to compete. Luxoft’s extensive cloud hosting, implementation and integration strengths help financial institutions adapt business models, adopting modern, fully hosted core banking system technology to stay ahead of the competition. Luxoft and Temenos put organizations in a better position to deliver differentiated products while accelerating customer attraction and retention via cloud-native technology. In fact, over 3,000 banks (41 of the top 50) and more than 1.2 billion customers worldwide rely on Temenos core banking system software.


Core banking system audit checklist


Our goal is to diagnose implementation concerns and fixes for the following:

Architecture: Assess the enterprise and Temenos Transact (T24) application design to spot problems, enhancing performance and stability.

Temenos Transact (T24) integration: Check the integration framework and analyze potential blockers. Increase efficiency and improve integration capabilities, giving examples of performance improvements.

Infrastructure: Identify negative factors, including network, storage and databases, and review middleware and integration solutions, network, storage arrangement, etc.

Temenos Transact (T24) local development: Appraise the Temenos Transact (T24) technical setup, assessing local code (L3 actions), close of business (COB) jobs, check against Temenos best practices in local development, dependencies and so on, in terms of performance and stability.


Comprehensive information gathering


However, digital transformation is not just a matter for the bank’s IT team alone. For core banking system analysis and modernization to provide meaningful results, we must reach a consensus between the internal technical and business teams. Luxoft interviews appropriate influencers and decision-makers, using the information to design and deliver workshops, plus architecture and system integration review sessions. Here’s a six-part breakdown of our information-gathering program:

  1. Internal and external business and technical documentation
  2. Interface and integration documentation
  3. Communication frameworks, calendars, etc.
  4. Post-live review of data flows and business operational workflows with technical solutions
  5. Development, UAT and pre-production environments
  6. Up-to-date system technical/functional documentation and collaterals


Our approach provides a 360-degree view of the current environment and operational issues. A typical health check team requires varying degrees of involvement from the following:

  • Project manager
  • One or two lead technical architects
  • Interface integration architect
  • Lead business architect
  • Temenos senior technical expert
  • Infrastructure specialist
  • Solution architect




  • Integration and architectural design
  • Infrastructure
  • Local development optimization
  • Business process simplification/improvement
  • Implementation strategy, tactics and prioritizations
  • High-level road map with ROM budget

Once the Temenos core banking system health check report has been shared and agreed, our next steps will be to ensure team readiness for deploying the recommendations, resolving the most pressing issues first as signposted on our road map. Luxoft works with you, post-implementation, to measure results and business impact via an in-depth review process.


Seven benefits of Luxoft collaboration


  1. Intimate knowledge of Temenos’ capabilities
  2. Thought leadership around Temenos products (e.g., Transact) and peripherals based on the successful execution of numerous core banking solutions
  3. Alignment of best-in-class investments and co-innovation with the power of Temenos core banking system software
  4. Differentiated services, including consultation, implementation, operations and hosting
  5. Trusted partner, liaising with different teams to complete a successful health check of the core banking platform
  6. Temenos experts are ready to be assigned to projects worldwide
  7. Increased visibility and transparency of the Temenos core banking system. An independent analyst providing an unbiased assessment of the bank’s existing architecture


Luxoft, a trusted banking industry partner


Expert in banking and capital markets solutions, Luxoft is a trusted provider of change, modernization and operational services. We partner with leading technology companies to provide an ecosystem of innovative services, technologies and talent that enhances customer relationship management, empowering our clients to lead their industries.


Like to take it further?


To learn more about the world’s #1 core banking system software, visit Temenos Health Check page. Or, if you’d like to arrange a Temenos core banking system health check for your organization, contact us.


Ian King , Temenos Practice Director, Banking  and Capital Markets, Luxoft

Ian King author linkedin

Temenos Practice Director, Banking and Capital Markets, Luxoft

Ian leads the Temenos Practice within Luxoft. He brings over 30 years of experience in many roles within Banking and Capital Markets, having worked at several large financial institutions before moving to consulting. Ian has operated in all aspects of the technology business, from infrastructure, application support and development, plus project and program management, to leading a Temenos capability of over 240 people. He is looking to grow our capabilities, bringing exceptional value to all our clients.