Banking software solutions company Temenos has released new high-water benchmark performance results for its Temenos Banking Cloud platform. These results were achieved on the Microsoft Azure and MongoDB Atlas infrastructure and simulated a client with 50 million retail customers, 100 million accounts, and a Banking-as-a-Service (BaaS) offering for 10 brands and 50 million embedded finance customers on a single cloud instance.
During the benchmark test, the Temenos Banking Cloud platform successfully processed 200 million embedded finance loans and 100 million retail accounts at a record-breaking 150,000 transactions per second. This demonstrated the platform’s robustness and scalability to support banks’ business models for growth through BaaS or by distributing their products themselves. The benchmark included not only core transaction processing but also payments, financial crime mitigation (FCM), data hub, and digital channels.
The performance benchmark with Microsoft and MongoDB highlighted the scalability of Temenos’ cloud-native and composable platform, helping banks to massively scale and cater for the high volumes of transactions in the BaaS world where multiple brands are hosted on a single platform. The benchmark also emphasised the advances Temenos has made to provide a greener infrastructure, helping banks scale efficiently and achieve their sustainability goals. Temenos cloud architecture elastically scales, enabling banks to process higher volumes of transactions with a 49% like-for-like improvement for the tested workloads compared to the previous release.
Real-world deployments have shown the scalable performance of the Temenos platform, with a global payments provider launching its Buy-Now-Pay-Later service on the Temenos Banking Cloud, reaching 25 million BNPL consumers, which equates to 150 million loans. This was the fastest start to any product launch in the company’s history.
Temenos offers a single platform suitable for any type and size of the bank, including retail, corporate, or wealth management. The platform is cloud-native and readily available on all major public cloud providers for banks to run themselves or as a SaaS solution via Temenos Banking Cloud.
Boris Bialek, Managing Director of Industry Solutions at MongoDB, stated that Temenos’ cloud-native, microservices-based architecture on the MongoDB Atlas database provides customers with flexibility, improved security, performance, and scalability. He also highlighted the importance of the document model for a composable banking architecture and the ability of the Temenos banking platform and MongoDB’s developer data platform to support the needs of even the largest global banks, as demonstrated by the high throughput of the benchmark.
MongoDB Simplifies Complex Data for Developers
MongoDB, founded 15 years ago, has become a popular choice for developers who want to avoid working with tedious amounts of data within relational databases. Last year, in an exclusive interaction with AIM, MongoDB’s Vice President of India and APC, Sachin Chawla, and Manager of Solutions Architect Corp APAC, Himanshumali, discussed the latest developments and the roadmap ahead. The company added several features to its developer data platform, including queryable encryption, relational migrator, and partnerships with AWS, GCP, and Azure. MongoDB also revamped its MongoDB University to train developers. The company has over 300 million downloads globally, and 2,300 of its 37,000 global customers are in India, where the customer base has grown 50% annually. A 2022 MongoDB survey found that many tech professionals struggle with data architecture, presenting an opportunity for the company to simplify its offerings.
Read more: The good, the bad and the ugly – the story of MongoDB
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