Temenos Transact
Core Banking Software
(T24 is now Temenos Transact)
Combining cutting edge banking technology with flexible and extensive business support
Why Temenos Transact Core Banking?
Temenos Transact is the most successful and widely used digital core-banking solution in the world. Using cloud native and agnostic technology, Temenos Transact provides the most extensive and richest set of banking functionality across retail, corporate, treasury, wealth and payments with over 1000 banks in 150+ countries relying on it to provide market leading and innovative products and services to their customers.
Leveraging Modern & Disruptive Technologies
Temenos Transact exploits new technologies to facilitate ease of use and ubiquity of access of everyday products and services for the end customer and enabling banks to meet their customers ever increasing expectations and demands.
Expanding Customer Segments
Customers have become more discerning and less loyal; they shop around for better deals from multiple providers. Temenos Transact enables banks to introduce new products using capabilities drawn from all sectors and hence continue to produce services and offers which are relevant, attractive and innovative, hence increasing customer loyalty and making it easier to acquire new customers.
Regulation & Market Practice
Regulation is no longer just about reporting and compliance. It is causing banking operating models to fundamentally change. Temenos Transact enables our clients to enjoy the certainty that regulatory compliance and key market standard changes will be applied to their Temenos solutions on time.
Competition
New entrants entering banking in the past few years share certain characteristics – they are all consumer-oriented technology-driven companies that are leveraging disruptive technologies to develop compelling propositions for their customers. Temenos Transact provides and leverages these technologies to enable incumbent banks to transform to more agile digital banking providers while also offering compelling solutions for challenger and neo banks
Continual Release Deployment
The solution has regular monthly releases of new functionality which ensure that banks can access new capabilities as soon as they are available. This expanding functionality is delivered as component level upgrades, and can be installed online with no system downtime, ensuring that customer services and operations are unaffected.
Challenging Market Conditions
Prolonged recessionary conditions have continued for many years over the last decade putting pressure on margins. ROEs have still not recovered since the pre- 2008 crisis levels of >20%. Cost models of new entrants are an order of magnitude different from the incumbent banks – cost income ratios of 30% vs 50s for most European banks. Temenos Transact’s modern digital banking architecture provides ample opportunity for end-to-end automation and provision of compelling customer products & services at a more efficient cost point.
Measurable Success
Product Overview
Integrated Corporate Banking core system with unparalleled functional depth and capability
T24 is now Temenos Transact
Temenos Transact – Cloud-native, cloud-agnostic, API first and AI-Enabled
Customer Success Stories
CreditAccess Grameen – Success Story
Libra Internet Bank – Success Story
Aktia – Success Story
“Temenos software allows the bank to launch products in cycles that are probably 10x faster than before. We are working together with Temenos as partners to transform our business digitally from bottom up.””
Ezequiel Szafir, CEO, Openbank
