Under pressure? A Temenos core banking system health check helps you do more with less

Mar 10, 2023 by Ian King



In brief

  • A Temenos core banking system health check from Luxoft can help financial institutions improve operational efficiency, mitigate risk, and strengthen resilience without the need for a complete system overhaul 
  • The health check diagnoses problems and provides practical remedies to address issues such as slow system performance, integration problems, and delays in adding new products  
  • By optimizing the existing platform and leveraging Temenos capabilities, the health check aims to elevate the core banking system to contemporary standards, improving performance and meeting regulatory requirements 


Everyone’s rowing the same depleted boat, it seems.

Whether you’re having to use legacy technology to repel data-driven fintechs, postpone rescheduled projects, deliver above-market growth or attempt to recruit developers and engineers when the whole business world is fishing in the same shallow pool, financial institutions like yours are having to do a lot more with a lot less.

You can hardly log onto LinkedIn these days without some oracle or other promoting greenfield transformation, that it pays to modernize, and that clearing the decks puts you on the same competitive level as the disruptive not-so-new kids on the block.


Bank anatomy based on a next-generation core banking platform

 Source: McKinsey analysis


But not every bank can make such an unconditional leap of faith


A clean sweep is fine if you’re able to write off the significant investment you made in your current core banking systems and technology with a clear conscience. But what about that lack of resources and the need to find cost-effective workarounds for critical issues?

If they’re not ready to modernize, what do firms hoping to develop additional products and services for new multichannel market sectors do when their systems run slowly, regardless of workload? When their close of business drags. Or customers and internal staff get slow platform response times. Or integration points don’t perform as they used to. Or it takes longer to add new products to the platform (e.g., new mortgage types.) Or, or, or...

Tech-wise, standing still means going backward. But let me reassure you. Transformation is not the only game in town.


Sometimes less is more


A Temenos core banking system health check cuts to the chase, diagnosing problems and prescribing remedies while uncovering practical ways to improve operational efficiency, mitigate risk and strengthen resilience.

Health check recommendations and fixes enable you to dial up your approach to critical business challenges like ever-changing regulatory requirements, risk management considerations and transparency issues by making the most of what you already have.


Continuous improvement


The object of the health check exercise is to tweak your existing platform and make it run better. It's not a question of “your platform architecture is way out of date, so you need to implement this other core banking solution now.” That would be more of an architecture review.

Our health check focuses on the fact that you've already got a quality product. Temenos is a robust, modern solution, so we'll identify the key pain points and see what can be adjusted to elevate your core banking system to the same contemporary standards as some of your newer competitors.

Results will depend on what we find, but there won’t be root and branch recommendations. Flexibility and peace of mind are often about platform evolution, not revolution.


Back to the future


We’ll look to move your organization back to core — away from the ad hoc enhancements put in place over the years — and establish an extensibility framework. You’ll benefit from the more modern ways of configuring Temenos introduced over the last 18 months or so.

It might sound like a contradiction in terms, but moving you back toward the core architecture will, in fact, move you forward with the desired performance improvements. As a result, old configurations that are now part of the base product will be removed.


Getting down to business


The Temenos core banking system health check analyses pain points in three major enterprise and IT segments, proposing down-to-earth ways to boost performance:


  • Decrease time-to-market for new products
  • Ensure timely compliance with regulatory requirements
  • Generate more cross-selling opportunities
  • Increase innovation in product development and pricing
  • Achieve a consistent multichannel experience


  • Optimize existing costs associated with application support
  • Reduce rising maintenance costs for legacy IT systems
  • Stabilize and align stand-alone apps
  • Enable multichannel capability


  • Streamline end-to-end business processes
  • Expand interoperability by standardizing business processes
  • Replace manual with automated operations
  • Outsource non-core operations

Our core banking system audit checklist helps financial institutions mitigate risks and improve operational efficiency. The audit shows you how to standardize processes, introducing straight through processing (STP) and intelligent automation to replace error-strewn manual operations. And, reassuringly, your systems will still be powered by Temenos, the industry’s safe pair of hands.


Real-world recommendations


The Temenos core banking system health check highlights operational constraints, bottlenecks, other adverse issues and practical fixes, culminating in a comprehensive findings and recommendations report. The audit scope includes integration and architectural design; infrastructure; local development optimization; business process simplification/improvement; implementation strategy, tactics and prioritizations, with a high-level road map and an ROM budget.

Once the Temenos core banking system health check report has been shared and agreed, we ensure team readiness for deploying the recommendations, resolving the most pressing road-map issues first. Post-implementation, Luxoft works with you to measure results and business impact via a timely, in-depth review process.


Luxoft’s unique qualities


  • Deep knowledge of Temenos’ capabilities
  • Thought leadership around Temenos products (e.g., Transact) and peripherals based on the successful execution of numerous core banking solutions
  • Alignment of prime investments and allied innovation driven by Temenos core banking system software
  • Differentiated services, including hosting, consultation and implementation
  • Trusted partner, liaising with different teams to complete an insightful health check of the core banking systems
  • Temenos experts ready for worldwide project assignments
  • Increased visibility and transparency of the Temenos core banking system. We provide a team of independent analysts offering an unbiased assessment of the bank’s existing architecture


Trust and partnership


Luxoft is a trusted provider of change, modernization and operational services for banking and capital markets. We partner with market-leading tech companies to expand our ecosystem of innovative services, technologies and talent, enhancing customer relationship management and empowering clients to achieve better business outcomes.


How healthy is your core banking system?


Find out what a Temenos core banking system health check could do for your performance, productivity and profitability by visiting Temenos Health Check. Or, if you’d prefer to delve a bit deeper, we’ll happily arrange a chat or a demonstration. Please reach out to our experts.


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.