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    CWB   CA13677F1018

CANADIAN WESTERN BANK

(CWB)
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Canadian Western Bank : Temenos, Canadian Western Bank intro Virtual COO for businesses

06/16/2021 | 11:11am EDT

Temenos, a banking software company, has partnered with Canadian Western Bank to launch the Virtual COO tool, which utilizes analytics and API cloud-based technology to deliver banking-driven data aggregation for small and medium size business owners. The solution acts as a virtual advisor to provide financial insights to business owners, according to a press release.

"We're innovating with Temenos to not only create something special, but to evolve with SME owners along their growth journey. It's about understanding the human behind the business. We're actively incorporating SME feedback to make sure we're creating an offering that addresses their unique challenges," Jeff Wright, SVP, equipment, digital and client solutions, Canadian Western Bank, said in the release. "It's been so exciting to watch the journey evolve, seeing the excitement from SME owners and creating a smarter business model for running a small business. We're thrilled to be launching the beta in just a few months and to support the entrepreneurial dreams of up to 1.1 million SMEs in Canada."

Temenos built this solution to address an issue with SME and banking relationships, since many SMEs see banks as a hindrance rather than an aid to growth.

"SMEs have the largest gap of any segment between customer expectations and the experience being delivered. Despite SMEs being the lifeblood of our economy, they have long been underserved," Kam Chana, product innovation director, Temenos, said in the release. "Based on the conversations we had with 300 SME owners, what they really lack is the time and the knowledge to grow. With a $5.2 trillion funding gap, the opportunity is enormous if financial institutions leverage technology to deliver intelligent solutions to businesses. We are delighted to announce the availability of the Temenos Virtual COO solution globally. With Temenos Virtual COO, financial institutions worldwide will be able to empower SMEs with intelligent business banking and drive growth with funding innovation."

Copyright © 2021 Networld Media. All rights reserved., source Industry News

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Financials
Sales 2021 1 022 M 800 M 800 M
Net income 2021 311 M 244 M 244 M
Net Debt 2021 - - -
P/E ratio 2021 10,1x
Yield 2021 3,24%
Capitalization 3 152 M 2 476 M 2 467 M
Capi. / Sales 2021 3,08x
Capi. / Sales 2022 2,82x
Nbr of Employees 2 593
Free-Float 96,3%
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Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 35,74 CAD
Average target price 41,92 CAD
Spread / Average Target 17,3%
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Managers and Directors
Christopher H. Fowler President, CEO & Non-Independent Director
R. Matthew Rudd Chief Financial Officer & Executive Vice President
Robert Lawrence Phillips Chairman
Darrell Robert Jones Chief Information Officer & Executive VP
Vladimir Ahmad Senior Vice President-Operations & Transformation
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