Although this blog post is more about Temenos Banking Cloud offering vs Temenos Transact installation on-premises or in private cloud, though the same actually applies to any solution offered on Software as a Service or Platform as a Service bases vs installation in your own data centre or in private cloud.

As you may already know Temenos Transact, known also as T24 and in past GLOBUS as well, is one of the few core banking solutions where customers can do their local development to better support various business requirements and be more independent from the vendor. Until recently majority of local development was done in Infobasic, but now Temenos is pushing Java API for this.

Back in the days of Temenos Globus and older Temenos T24 versions, there was only one mean to interact with the Temenos solution - good old OFS. In most cases some middle layer was needed to translate messages from different systems into OFS that was understood by T24.

Core banking transformation programmes done well are a heart surgery on the bank, removing the dead tissue and replacing it with healthy vital organs.  Done poorly, these programs are absolute buffoonery with practitioners not able to tell the difference between the healthy and the dead organs — and with the sharpest tool being a cudgel.

Where to start? When you tackle something as large and scary as a core banking transformation the question of where to start can be perplexing. In the history of my core banking transformation career I have seen different models used for different reasons.