Who says Luxoft sets the gold standard for Temenos services?

Nov 3, 2023 by Ian King, Rammohan Duraikannu



In brief

  • Luxoft leverages the full potential of Temenos products to achieve digital excellence. We offer tailored solutions, harnessing the power of data to drive informed decisions and enhance customer experiences 
  • We bring unmatched data migration expertise, seamless services and precise system integration, coupled with staunch regulatory compliance, performance optimization and robust security and risk management 
  • Certified Temenos experts go beyond deployment to ensure clients benefit from everything modernization offers, from finance workflows through system configuration to security and cloud engineering 



Not us. We wouldn’t dream of it. 

Why? Because we do so much more than that. 

Of course, as a leading member of a select group of Temenos Transact certified partners, Luxoft prides itself on delivering exemplary Temenos service implementation and run capabilities (we hold four different global certifications). 



It’s just that we don’t settle for doing what’s expected


Luxoft’s banking expertise routinely outstrips the competition in a typically aggressive financial services marketplace. Yes, we signed a global strategic agreement for an expanded partnership with Temenos in 2020 (certification being achieved in record time thanks to our wealth of banking and capital markets experience and deep understanding of the upgrade process.) 

But that doesn’t define Luxoft. 

Our certified Temenos experts go beyond deployment to give organizations the full works; to ensure they benefit from everything modernization has to offer. From finance workflows through system configuration to security and cloud engineering, no one knows banking modernization — or Temenos — better than Luxoft. 


The financial world relies on Luxoft


We work with the world's largest, most prestigious and highly valued banks in the world. These institutions hold the future of finance (and global stability) in their hands. And they count on Luxoft to resolve their most complex digital, technical and operational challenges. 

Nine key challenges 

  1. AI, ML and advanced analytics 
  2. Change, cost and vendor management 
  3. Data management, quality and security
  4. Legacy system modernization and technical debt
  5. Complex system integration, upgrades and business continuity 
  6. Data architecture, scalability and performance optimization 
  7. Risk management, cybersecurity threats and disaster recovery 
  8. Regulatory compliance and data governance 
  9. Customization and flexibility

To compete effectively, T24 banks must optimize the efficiency of their systems and processes and place less emphasis on local customization. Shifting customer preferences and the proliferation of banking channels have compromised heritage IT infrastructures by increasing the complex nature of digital commerce. Upgrading the core banking system enables banks to claw back lost ground and take a leading market position. 


We add value to Temenos upgrades


While enhancing security, streamlining operations, improving compliance, cutting costs and repairing functional cracks, a Temenos upgrade program implements advanced features to cut the rollout time for enhanced products and services. 

Being a certified upgrade partner, Luxoft follows the time-served TIM approach enriched with value-added processes. Our approach consists of four distinct phases: 



Value adds

The following tools have been purpose-built by Luxoft to help deliver a consistently high-quality upgrade: 

Upgrade Analyzer 

Ensures accurate scoping and estimation. Our scoping tool extracts and creates a detailed overview of the Transact setup/configuration, local developments and impact on release upgrade, etc.  

Data Comparison 

This Transact-specific comparison tool compares data between source and target systems. It validates data integrity post-upgrade. 

GL Comparison 

The tool provides insight into financial reporting lines in Transact and identifies transactional-level differences between pre- and post-upgrade. 

Object Explorer 

Object Explorer is a detailed catalog of components implemented in a Transact environment, including parameterization with dependency information. It identifies used/unused components for cleanup/decommissioning or decomposing the core. 


Get all the latest features


Banks can take advantage of new Temenos features and frameworks by implementing them as part of the upgrade. Framework deployment provides new modes of API-driven integration and microservices to ensure systems are as scalable and flexible as possible. 

Luxoft works with clients to develop an upgrade strategy and tailor the roadmap to provide incremental business capability aligned with business priorities. Together, we address technological obsolescence and rearchitect the landscape to future-proof the application. This progressive digital roadmap is designed to minimize the impact on BAU operations and allow for the upskilling of existing IT support and operations teams. 


Your Temenos integration partner


Being a certified full-stack partner, Luxoft has over 240 Temenos experts ready to push the button on core-banking-system health checks, integration, upgrading and hosting​​ for clients wherever they call home. 

Certified Temenos services: We have one of the largest global Temenos practices for Transact system implementation, upgrades and maintenance. Luxoft is a Temenos Certified Global Partner for Managed Upgrades, and this certification is a testament to the extent of our expertise and experience, as well as our impeccable adherence to Temenos methodology. 

Best-in-class toolkits and accelerators: We use a best-of-breed approach to our toolkit, ensuring every tool and accelerator maximizes productivity and streamlines quality assurance during a project. This approach enables us to deliver results promptly and efficiently without roadblocks or quality issues. 

Operating model expertise: We help our clients evolve their operating model using Temenos software to reduce wasted expenditure, maximize ROI and optimize operations for profit. We do so by implementing Temenos-powered ITO/BPO/BPaaS solutions. 

Temenos Academy: We cultivate expertise in the next generation of specialists via the Luxoft Temenos Academy. Sharing our expertise enables SMEs to develop Temenos capabilities and maintain systems. Our efforts also contribute to scaling the nearshore talent pool. 


Why Luxoft


Luxoft‘s Transact upgrade experience is second to none. Our dedicated and dynamic team has developed a unique insight into the upgrade process by performing complex transformations and upgrade projects while maximizing performance and minimizing downtime.  

Here’s a quick overview of our team’s expertise: 


Luxoft Transact upgrade team’s expertise in numbers


Free scoping exercise


An upgrade can take anything from a few months to a couple of years to complete. Understandably, prospects need an idea of the cost and timescales involved. So, we undertake a free scoping exercise to get to grips with client and system requirements. 

Clients complete a questionnaire, providing a detailed description of their current- and desired end-state architecture. Then, Luxoft prepares a client-specific upgrade analyzer tool designed and executed in the client’s environment to provide the required transformation data and insights. 


To sum up


As a trusted Temenos Global Certified Partner, Luxoft tailors solutions to each client’s core banking requirements. With a proven track record of successful implementations, we help financial institutions resolve complex challenges, improve regulatory compliance and modernize data management, ensuring a resilient and future-ready banking environment. 

Considering modernizing your bank? Then your choice of partner could not be clearer. Luxoft's certified Temenos teams have a flawless track record for inspiring confidence and ensuring a seamless transition. 

As they say, working with leaders helps you become an even greater leader. 


Want to know more?


To learn more about what upgrading the world’s #1 core banking system could do for your organization, visit our website. Or, if you’d like to arrange a T24 demonstration, a full system health check, or to discuss any particular pain points you’re suffering with, contact us.


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

Ian King

Temenos Practice Director, Banking and Capital Markets, Luxoft

Ian leads the Temenos Practice within Luxoft. He brings over 30 years’ experience in many roles within banking and capital markets, having worked at several large financial institutions before moving into 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 and bring exceptional value to all Luxoft clients.

Rammohan Duraikannu , Director, Temenos, Banking and Capital Markets, Luxoft

Rammohan Duraikannu

Director, Temenos, Banking and Capital Markets, Luxoft

Ram leads Luxoft’s Temenos Center of Excellence team in India. He has over 23 years of Temenos experience and has performed multiple roles in various Temenos engagements, ranging from implementation, upgrades, enhancement, product development and system audits across multiple geographies. Ram has led Temenos CoEs for many years, setting up knowledgeable teams to deliver projects and accelerators to complement our services.

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

Ian King

Temenos Practice Director, Banking and Capital Markets, Luxoft

Rammohan Duraikannu , Director, Temenos, Banking and Capital Markets, Luxoft

Rammohan Duraikannu

Director, Temenos, Banking and Capital Markets, Luxoft