NEWS
Mbanq signs with Temenos to accelerate Banking-as-a-Service in US market
CUaaS is offered by Mbanq ’ s Credit Union Service Organization ( CUSO ) and will be powered by The Temenos Banking Cloud .
This solution is a new end-to-end comprehensive service to help US credit unions of any size accelerate their Digital Transformation and deliver innovative digital financial services and outstanding experiences to members .
Mbanq ’ s CUaaS combines Temenos ’ modern cloud technology with operations , legal compliance and financial services solutions , wrapped into a single credit union ecosystem . The two companies are already engaged in customer acquisition and proof of concepts in the US with credit unions .
Silicon Valley-based Mbanq , a Banking- as-a-Service ( BaaS ) provider , has announced it has signed a strategic agreement with Temenos , the open cloud banking company , to launch a Credit-Union-as-a Service ( CUaaS ) offering and to accelerate BaaS adoption across the US .
Max Chuard , CEO , Temenos , said : “ Following our strategy to accelerate the adoption of Banking-as-a-Service in Europe , we are now excited to expand in the US . With this strategic agreement with Mbanq , we are opening up a new channel to the BaaS space and are increasing our penetration in the US credit union market .
“ Existing Temenos credit union clients will benefit from Credit Unionas-a Service to run their operations in a seamless and cost-effective way on modern cloud technology .”
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NEC to build transatlantic cable connecting US and Europe
NEC Corporation has announced that it has been contracted by Facebook to build an ultra-high performance transatlantic subsea fiber-optic cable connecting the US and Europe .
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Until recently , subsea cable was composed of 16 fiber pairs at most , but today , by using NEC ’ s newly developed 24 fiber pair cable and repeaters , a system can deliver a maximum transmission capacity of a half Petabit per second , the highest to date for a long distance repeatered optical subsea cable system .
International data usage across the Atlantic is expected to expand 20-fold in the 15 years between 2021 and 2035 . The region ranks among the highest growth geographies for data traffic demand , bringing ever-greater demands to reduce the cost per bit on subsea cable networks .
NEC has been a leading supplier of submarine cable systems for more than 50 years , and has built more than 300,000 km of cable , spanning the earth nearly eight times . optical submarine cables and repeaters , provision of ocean surveys and route designs , training and delivery testing .
NEC is well-established as a reliable partner in the submarine cable field as a system integrator that provides all aspects of submarine cable operations , including the manufacture and installation of
NEC ’ s subsidiary OCC Corporation manufactures subsea optical cables capable of withstanding water pressures at ocean depths beyond 8,000 meters .
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