Italian Digital Bank Achieves Record Growth with Temenos Banking Cloud
Temenos (SIX: TEMN), the cloud banking platform, announced that Flowe, the digital bank of Banco Mediolanum, has reached a major milestone with 700,000 accounts in its first 18 months since its launch. With Temenos open platform for composable banking, Flowe is growing twice as fast as its nearest competitor. It received 150,000 new sign-ups in one week with peaks of 30,000 new customers per day.
Flowe offers digital services at scale, paving the way for future profitability and bringing sustainable banking to over 60 million Italians. Supported by Temenos cloud technology, Flowe is the first bank in Italy to be certified as a B-Corp and become carbon neutral. Flowe’s CEO will be speaking on the topic of ESG at Temenos Community Forum, 17-19 May in London.
Flowe’s mobile banking app combines fully-automated onboarding, a first-class user experience and eco-friendly banking services. Its target market consists of young people who need to manage their money effectively to pay rent and other bills and prefer to use innovative, ethical service providers.
Through a fully remote implementation with Temenos, Flowe went live in a record time of just five months, in June 2020. Temenos pre-composed banking services and simple customization through open APIs significantly accelerated the process. The bank’s highly differentiated value proposition has paid off – in 2021, Flowe won the prestigious Prodotto Dell’Anno (Product of the Year), an Italian product innovation award based exclusively on consumers’ votes.
Ivan Mazzoleni, Chief Executive Officer, Flowe: “We chose Temenos Banking Cloud because it enabled us to go live fast, scale massively, and provide a seamless onboarding experience to our customers. Flowe went live in a record time of just five months, and we onboarded 15,000 customers in our first week alone. With Temenos, we’ve been able to bring new products to market quickly and offer truly personalized experiences in line with our sustainable mission. Supported by Temenos Banking Cloud, we can grow sustainably, passing on benefits to customers for a cleaner, greener planet and a better society.”
Max Chuard, Chief Executive Officer, Temenos, said: “Digital innovation in banking is thriving in Italy. And it’s an important market for Temenos, where we have a strong and growing presence. Banks are ready to break free from the legacy core banking systems that have inhibited innovation, whereas new digital entrants are coming to the market. Flowe’s success shows that Temenos open platform for composable banking can help Italian banks provide highly-differentiated, sustainable banking experiences at scale. Congratulations to the team for demonstrating that a powerful mission combined with leading technology can change the face of banking.”
Cloud adoption has accelerated since the pandemic. A recent Economist Intelligence Unit report supported by Temenos finds that more than seven in ten banking respondents state that incorporating the cloud into their organization’s products and services will help them achieve their business priorities. Challenger banks specifically look for agility, scale, and easily composable banking services that allow them to assemble best-of-breed providers into an open ecosystem. On Temenos Banking Cloud, pre-composed banking services can be consumed from a self-service portal, easily configured, extended, or deployed anywhere. Composed Temenos Banking Services consist of pre-configured and pre-assembled Temenos Banking Capabilities plus optional integrated third-party solutions from the Temenos Exchange.
About Temenos
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.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220509006301/en/
Contact information
Jessica Wolfe & Scott Rowe
Temenos Global Public Relations
Tel: +1 610 232 2793 & +44 20 7423 3857
Email : press@temenos.com
Alistair Kellie & Andrew Adie
Newgate Communications on behalf of Temenos
Tel: +44 20 7680 6550
Email: allnewgatetemenos@newgatecomms.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Everen Specialty Appoints Carla Greaves Chief Underwriting Officer25.4.2025 20:00:00 EEST | Press release
Everen Specialty, a Bermuda-based (re)insurer for energy markets worldwide, today announced the appointment of Carla Greaves as its new Chief Underwriting Officer (CUO). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250425273777/en/ Carla Greaves Ms. Greaves will join the Executive Leadership Team of the Everen Group, based in the Bermuda office, later this year. She succeeds Jane Peterson, Interim CUO, who will continue in a consultancy capacity to facilitate the transition. With more than 30 years of underwriting and leadership experience in the (re)insurance industry, Ms. Greaves brings a wealth of expertise and a proven track record of success in the Casualty market where she is recognized for building high-performing teams, driving profitable growth, and successfully navigating complex market environments. Prior to joining Everen Specialty, Ms. Greaves held increasingly senior leadership positions, most recently servin
Incyte to Highlight Early-Stage Oncology Data at American Association for Cancer Research Annual Meeting 202525.4.2025 15:00:00 EEST | Press release
Incyte (Nasdaq:INCY) today announced that the Company will present new early-stage data from its oncology portfolio at the American Association of Cancer Research (AACR) Annual Meeting 2025 in Chicago, IL, from April 25–30. “At AACR we will be presenting data from early-stage programs across our oncology portfolio, including for patients with myeloproliferative neoplasms, ovarian cancer and other solid tumors,” said Pablo J. Cagnoni, M.D., President and Head of Research and Development, Incyte. “These data will guide our approach as we advance our pipeline and seek to transform the treatment landscape for patients with cancer and myeloproliferative neoplasms.” Abstracts accepted for presentation at AACR include: Mini Symposium INCB177054 INCB177054: A Novel, Potent, Orally Bioavailable DGKα/ζ Dual Inhibitor Enhances T-Cell Function and Demonstrates Potent Antitumor Activity (Session Title: Novel Antitumor Agents. April 28, 4:50 p.m. – 5:05 p.m. ET (3:50 p.m. – 4:05 p.m. CT). Abstract #
SLB Announces First-Quarter 2025 Results; Remains Committed to Return a Minimum of $4 Billion to Shareholders in 202525.4.2025 13:50:00 EEST | Press release
SLB (NYSE: SLB) today announced results for the first-quarter 2025. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250423635499/en/ The exterior of the SLB headquarters in Houston, Texas. First-Quarter Results (Stated in millions, except per share amounts) Three Months EndedChange Mar. 31, 2025 Dec. 31, 2024 Mar. 31, 2024 Sequential Year-on-year Revenue $8,490 $9,284 $8,707 -9% -3% Income before taxes - GAAP basis $1,063 $1,387 $1,357 -23% -22% Income before taxes margin - GAAP basis 12.5% 14.9% 15.6% -241 bps -306 bps Net income attributable to SLB - GAAP basis $797 $1,095 $1,068 -27% -25% Diluted EPS - GAAP basis $0.58 $0.77 $0.74 -25% -22% Adjusted EBITDA* $2,020 $2,382 $2,057 -15% -2% Adjusted EBITDA margin* 23.8% 25.7% 23.6% -186 bps 18 bps Pretax segment operating income* $1,556 $1,918 $1,649 -19% -6% Pretax segment operating margin* 18.3% 20.7% 18.9% -232 bps -60 bps Net income attributable to SLB, excluding charges &
Corona, The World’s Most Valuable Beer Brand 1 , Announces Its 100-Year Anniversary with Global Celebration25.4.2025 11:00:00 EEST | Press release
Today, Corona proudly celebrates its 100-year anniversary, a remarkable milestone for the iconic brand that has been synonymous with the beach and enjoyed by consumers worldwide for the past century. Since 1925, Corona has cultivated a deep association with the beach; fully embodying a lifestyle connected to nature and relaxation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250425804516/en/ Corona 100 This Is Living Since 1925 In honor of the occasion, Corona invites everyone to live their “beach side” – a.k.a. their best side – at top-tier beach locations across the globe. The Corona 100 platform includes a film highlighting 100 years of beach culture, a definitive list of the top 100 beaches in the world to visit, and a signed multi-year sponsorship of a renowned concert at Copacabana Beach in Rio de Janeiro — all offering people across the globe opportunities to connect with their beach side. “For 100 years, Corona has
Ant Group Unveils New Recruitment Initiative for Top AI Talents, Ramping Up AI Innovation Efforts25.4.2025 10:28:00 EEST | Press release
Ant Group today unveiled Plan A, a new recruitment initiative to attract top artificial intelligence researchers, reinforcing its commitment to accelerating AI research and development under the “AI First” corporate strategy. Operating within the framework of Ant Star—Ant Group’s year-round campus recruitment program—Plan A specifically targets AI talents who are ambitious, adaptable, altruistic, and analytical. Outstanding graduates from universities worldwide with STEM majors are encouraged to apply for Plan A. Relevant fields include computer science, software engineering, artificial intelligence, cybersecurity, information and telecommunication engineering, mathematics, statistics, and other emerging interdisciplinary areas. To better foster the development of technological innovators in this new AI era, Plan A offers candidates comprehensive support and resources, including unrestricted access to AI hardware and tailored career paths that allow for significant research freedom. Ad
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom