Uniting Financial Services (UFS), a non-profit entity based in Australia, has signed for a range of Temenos’ solutions, to be delivered in the cloud, reports Tanya Andreasyan of FinTech Futures (Finovate’s sister publication).

The new multi-year deal builds on an existing relationship between UFS and Rubik Financial, a local distributor of Temenos’ tech (Rubik Financial was acquired by Temenos last year and merged into the company). UFS initially signed for T24, to be delivered on a hosted basis by Rubik, in 2013, FinTech Futures understands.

Under the new agreement, UFS will implement Temenos’ T24, analytics, channels, financial crime mitigation and risk and compliance software, all delivered on the Microsoft Azure cloud.

With over $1.2 billion (AU$1.7 billion) in funds under management, UFS provides treasury and ethical investment services to the Uniting Church in Australia’s Synod of NSW & the ACT including its Congregations, Presbyteries and various Church Agencies.

“At UFS we are committed to evolving our services and solutions to best support the needs of our investors and borrowers,” Uniting Financial Services CEO Warren Bird said. “Investing in innovative, flexible and modern technologies, and working with key partners such as Temenos is an important part of this approach.”

Temenos’ Managing Director for the Asia-Pacific, Martin Frick, pointed to the rise of open banking as another reason for partnerships with organizations like Uniting Financial Services. “With Open Banking poised to become a reality in Australia in 2019, we are seeing customers like UFS invest in digital transformation both to achieve operational excellence and improve customer service,” Frick said.

Temenos demonstrated its Temenos Connect Mobile Banking solution at FinovateEurope 2015. Earlier this month, the Geneva, Switzerland-based company announced the completion of a major technology upgrade for Baltic International Bank. Also in October, Temenos announced upcoming deployments of its T24 core banking system at Cameroon’s largest bank, Afriland First Bank and at Tunisia’s Banque de l’Habitat.

Founded in 1993, Temenos is listed on the Swiss Stock Exchange under the ticker “TEMN,” and has a market capitalization of more than $12 billion. More than 3,000 companies around the world, including 41 of the top 50 banks, use solutions from Temenos to process the daily transactions of 500+ million banking customers.