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PRESS RELEASE: Temenos adheres to the EU Cloud Code of Conduct

SCOPE EuropeEU Cloud CoCNewsPress Release

Brussels, 31 January 2024 – The EU Cloud CoC General Assembly is thrilled to announce that Temenos has successfully completed the process of adherence to the Code. The continuous growth of this ecosystem attests to the importance of committing to stringent technical and organizational measures for building trust in the cloud.

GDPR codes of conduct entail a well-rounded framework that enables the industry to drive the standardization process while requiring an appropriate third-party monitoring scheme, which is ultimately overseen by the supervisory authorities. Such a structure creates the necessary balance to allow the concomitant establishment of workable solutions and trust in digital services.  

The EU Cloud CoC has been spearheading the development of these tools. The Code has received the blessing of the EDPB more than two years ago and, since then, has created a benchmark for the entire cloud sector, which has been significantly increasing transparency and support for customers in their risk assessments.

By declaring services adherent to the Code, Temenos demonstrates its commitment to implementing robust privacy practices and, notably, to fostering  trust and accountability.  Furthermore, such a milestone for a provider delivering banking solutions is an example of how the synergies between the cloud and other sectors relying on this technology can enable a broad harmonization of good industry practices.

Reacting to the news, Colin Jarrett, Chief Security and Risk Officer of Temenos, stated:

At Temenos we fully embrace our commitment to fostering trust and integrity in all aspects of privacy and the protection of personal data. As banks increasingly move their operations to the cloud, privacy and security are important considerations. Adherence to the EU Cloud Code of Conduct further enhances Temenos’ credentials as a trusted cloud-native platform for banks of all sizes to increase efficiency and enable innovation while maintaining the highest compliance standards.

Gabriela Mercuri, Managing Director of SCOPE Europe, added:

Temenos’ adherence and the continuous dissemination of this initiative showcases the unique potential of codes of conduct to optimize compliance and support the solidification of strong privacy values within and beyond the cloud. As SCOPE Europe, we are thrilled to witness these developments first-hand and look forward to continuously support the development of trust in digital products and services.