Temenos hires on-the-ground CEO as business eyes new markets

  • By Christine St Anne

Global banking software business Temenos has hired a managing director for Australia on the back of solid growth momentum.

Michelle Tea will take on the job as MD for Australia, New Zealand and the Pacific Islands. She has over 25 years experience in technology and software. 

Most recently she was the director of digital strategy and services at Microsoft Australia and has been involved in leading digital transformations. 

According to Temenos managing director of Asia Pacific Martin Frick, the business has been “growing very nicely” in the region.

It has already garnered 250 clients in Australia. 

According to Frick, in the last 18 months, Temenos has seen great success with incumbent banks such as TSB which went live on Temenos Infinity for digital onboarding in just nine weeks as well as neobanks such as Judo Bank and Volt Bank, which both went live in record time.

The business has also grown through acquisitions of Avoka and Kony. 

“Australia and New Zealand are major growth markets for Temenos and our recent acquisitions of Avoka and Kony have enabled us to accelerate the expansion of our presence in this region,” Frik said. 

“In particular the pace of regulatory change has opened up significant opportunities in the retail and SME banking as well as the wealth management space,” he said. 

Further, Frick sees ample opportunity or the business to tap into the non-banking sector as open banking is introduced in Australia. 

With the framework also including telecommunications and energy, Frik sees scope to help businesses in these sectors. 

Going forward, Frick said it was important that the business grows sustainably. 

“Michelle is an excellent appointment to lead our business in the region and build on our growth and momentum. Her commercial acumen, digital knowledge and leadership prowess are a perfect fit to enable us to deliver on our growth strategy,” he said.