NEWS
KPMG and ServiceNow announce an expansion of their commitment to redesigning financial operations
KPMG and ServiceNow have announced an expansion of their commitment to redesign financial operations , supply chain and procurement .
This expansion of the relationship that began over a decade ago covers IT , human resources , risk , cybersecurity and Environmental , Social and Governance ( ESG ) criteria . It includes an investment from both companies to provide new offerings that combine Artificial Intelligence ( AI ), low-code capabilities and deep industry knowledge .
ServiceNow estimates that by 2025 , there will be a market worth US $ 11 billion for supply and purchasing operations and a multi-billion-dollar opportunity for financial and supply chain solutions that bring people , processes , data and technology together on a single streamlined platform .
While timely commitment is crucial for procurement to influence spending and enable better decision-making , many internal clients are frustrated with the lack of transparency and fragmentation in procurement and approval processes .
The joint effort combines the breadth of experience and marketleading knowledge of KPMG professionals with ServiceNow ’ s recently announced AI-enabled solution , Finance and Supply Chain Workflows , which complements clients ’ existing supply chain and procurement systems , streamlining processes , enhances the employee experience while also helping to reduce costs and increase efficiency .
Finland ’ s Aktia selects Temenos to modernise payments
Temenos has announced that Finland ’ s wealth manager bank , Aktia , has selected Temenos to modernise its payments capabilities adopting Temenos Payments Hub to support the introduction of pan-European instant payments and consolidate all payment rail processing onto a single platform .
The move is part of a strategic platform modernisation to deliver a better customer experience for domestic and cross-border payments with improved efficiencies and to meet continually changing regulatory and compliance requirements .
Aktia serves more than 250,000 individuals and over 20,000 corporate and institutional customers and already runs on Temenos for core banking . Aktia offers comprehensive banking and wealth management services through close collaboration between Aktia ’ s three business areas : asset management , banking and life insurance – adding Temenos Payments Hub will allow the bank to simplify and standardise its payments operations for all customers .
By running core banking and payments on a robust , API-first , flexible and highly configurable platform , the bank benefits from integrated accounts and payments processing and low latency execution which is required to deliver high levels of Straight Through Processing ( STP ) and efficient customer experiences . Furthermore , the single Temenos platform allows for faster and lower-cost updating and maintenance , which means a lower total cost of ownership .
Choosing Temenos ’ cloud-native and cloud-agnostic platform also future-proofs Aktia ’ s technology strategy , enabling an initial on-premise installation with flexibility for seamless migration of its core banking and payments to the cloud or SaaS . Temenos Payments Hub can scale massively handling all payment types and schemes . �
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