Temenos Selected by Green Dot to Help Build and Power the Digital Bank and Fintech’s Cloud-Based Processing Platform
Temenos (SIX: TEMN), the banking software company, today announced that Green Dot Corporation (NYSE: GDOT) has enlisted The Temenos Banking Cloud as its platform of choice to power its direct digital bank and banking platform services (or “BaaS”) partners, enabling more feature-rich, secure and streamlined banking and payment experiences for customers, as well as scalable growth.
Temenos’ robust and scalable cloud platform will power Green Dot’s technology stack, enabling the leading Banking Platform Services (BaaS) provider’s partners to embed financial services – including credit, payment, lending, DDA accounts and other features – into their ecosystems. The Temenos Banking Cloud will also support Green Dot’s 33 million-plus customers who are served across its retail and direct-to-consumer digital banking channels.
“We selected Temenos as our platform partner because of their hyper-efficient and secure open-cloud capabilities, which align with and support our goals to provide exceptional, scalable solutions to our customers and partners,” said Dan Henry, President and CEO of Green Dot. “This is a critical component of our mission to seamlessly connect people to their money, both directly through our digital bank and products like GO2bank, and through our valued partners.”
Max Chuard, CEO, Temenos, said: “At Temenos we have a vision to power a world of banking where financial institutions and businesses open opportunities for people to achieve their ambitions. Green Dot continues to pioneer new ways to support underbanked Americans, through its own financial products as well as its strategy to offer embedded finance through Banking Platform Services to the world’s leading brands. Temenos’ intelligent, cloud-based open banking platform will drive innovation and growth as Green Dot continues to build out its ecosystem and grow its digital bank platform and customer base. We’re excited to partner with Green Dot to make banking more human and accessible for everyone.”
Jacqueline White, President – Americas, Temenos, said: “Green Dot is a technology-driven company with a mission to seamlessly connect people to their money. We are proud that Green Dot selected The Temenos Banking Cloud to accelerate its impressive track record of growth, innovation and social impact. We are pleased to see strong traction in the U.S. market across all our products, as we continue to support financial institutions to deliver value to their customers.”
– Ends –
About Green Dot
Green Dot Corporation (NYSE: GDOT) is a financial technology and registered bank holding company committed to delivering trusted, best-in-class money management and payment solutions to customers and partners, seamlessly connecting people to their money. Green Dot’s proprietary technology enables it to build products and features that address the most pressing financial challenges of consumers and businesses, transforming the way they manage and move money and making financial empowerment more accessible for all.
Green Dot offers a broad set of financial services to consumers and businesses including debit, checking, credit, prepaid, and payroll cards, as well as robust money processing services, tax refunds, cash deposits and disbursements. Its flagship digital banking platform GO2bank offers consumers simple and accessible mobile banking designed to help improve financial health over time. The company’s banking platform services business enables a growing list of the world’s largest and most trusted consumer and technology brands to deploy customized, seamless, value-driven money management solutions for their customers.
Founded in 1999, Green Dot has served more than 33 million customers directly and many millions more through its partners. The Green Dot Network of more than 90,000 retail distribution locations nationwide, more than all remaining bank branches in the U.S. combined, enables it to operate primarily as a “branchless bank.” Green Dot Bank is a subsidiary of Green Dot Corporation and member of the FDIC1. For more information about Green Dot’s products and services, please visit www.greendot.com.
1 Green Dot Bank also operates under the following registered trade names: GO2Bank, GoBank and Bonneville Bank. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits.
Temenos AG (SIX: TEMN) is the world’s leader in banking software. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 1.2 billion banking customers. Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence.
Temenos software is proven to enable its top-performing clients to achieve cost-income ratios of 26.8% half the industry average and returns on equity of 29%, three times the industry average. These clients also invest 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks’ IT investment is adding tangible value to their business.
For more information, please visit www.temenos.com.
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Investor and Media Contacts
Head of Investor Relations, Temenos
Tel: +41 22 708 1515
Teneo for Temenos
Tel: +44 203 757 9257
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