Unique fintech collaboration between Pannovate and Temenos brings new opportunities for banks to power up their card management capabilities

Temenos – Company

Ian Staniforth, COO of Pannovate, a Card Management System (CMS) and Banking-as-a-Service (BaaS) provider, explains how Pannovate’s integration with Temenos, which has seen the organisations work together to evolve Temenos’ L1 core adaptor from the ground up, has enhanced two of Temenos’ key products, Transact and Infinity, for banking clients looking to provide a rich CMS for their customers’ digital banking and payments propositions.

Pannovate, which has 150 APIs and a network of 47 fully integrated partnerships, from processors to KYC providers and BIN sponsors, became part of the Temenos Exchange ecosystem in March 2023.  Pannovate’s advanced CMS works with Transact and Infinity in a ground-breaking and repeatable new way, as Staniforth goes on to describe.

Challenger Banks

The Temenos Exchange

The digital banking demands of customers have never been greater, with banks needing to develop future-proof fintech solutions to deliver enhanced financial services and reach new geographies and sectors, which is complex, costly, and time-consuming.

The Temenos Exchange ecosystem offers carefully selected, pre-integrated and approved fintech solutions that can easily be deployed on top of the Temenos open platform for composable banking, enabling banks to accelerate the creation of new financial services whilst reducing the cost of development.

Integrating Pannovate’s cutting edge CMS with Temenos’ L1 adaptor

Pannovate has a long-standing European banking client for whom it provides card management and treasury services for their debit and credit card portfolio. Looking to replace its legacy platform, the bank chose Temenos to provide its new core banking system.

To make best use of both the Pannovate and Temenos platforms, this initiative required Pannovate’s CMS to integrate with the Temenos platform and, due to the flexibility of Pannovate’s API adaptor, it was able to approach the integration using Temenos’ core L1 adaptor which, at that time, was in its infancy.  The integration with the L1 adaptor paves the way for banks to more quickly and cost-effctively get access to the combined solutions offered Pannovate and Temenos, benefiting also from ongoing product development on their respective core platforms.  This is in stark constrast to the constraints inherent in the custom L3 integrations typically in place with other Exchange members.

The collaboration between Pannovate and Temenos required extensive development and innovation to define and enrich the L1 adaptor’s capabilities to deliver the right solution for the bank, providing access to the best of both worlds of Pannovate’s and Temenos’ products.  Further, the cloud-based deployment of both systems enabled a safe and robust integration across two major public cloud providers, matching functional excellence with operational resilience and scalability.

The evolution of L1 led to the creation of Temenos’ first comprehensive universal adaptor, and with Pannovate’s platform offers a “plug-and play” model that is agnostic to processors and other component partners of a payments ecosystem, bringing functional, technological and commercial advantages to banks that will increase as L1 is further enriched.

The integration project has been the basis for broader collaboration of Pannovate and Temenos through Pannovate becoming a partner on the Temenos Exchange.  This is an exciting move for Pannovate, bringing access to a wealth of Temenos resources along with diverse, global opportunities across their many market sectors. Being pre-integrated with the L1 adaptor and Pannovate having played an important role in its development brings about a unified banking and cards solution with deep system knowledge across the organisations, which together are perfectly placed to offer a full and rounded delivery against most conceivable client requirements, in areas where such a solution may not previously have been readily available.

The integration of Pannovate’s advanced CMS with Temenos’ Transact and Infinity products means that Temenos has a ready-made and repeatable solution built to their core L1 adaptor that offers rich CMS capabilities to boost their core banking offering.

A snapshot of use cases for Pannovate’s CMS alongside Temenos’ products include:

  • Where a bank is looking to provide cards and card management capabilities for the first time and requires a full-suite CMS
  • Where a bank’s existing CMS is not fit-for-purpose and/or technologically constrained
  • Where a bank wishes to expand or modernise its card-based capabilities
  • Where a bank is looking to switch issuer processor for their card functionality without an additional integration project.

Through the work to develop the L1 adaptor technology, Pannovate has enabled access to its full range of CMS features, presenting myriad ways that it’s capabilities, in conjunction with Transact and Infinity, can help new or existing banks offer a richer cards experience to their customers.

Banks have access to Pannovate’s advanced CMS that works seamlessly with both Transact and Infinity.

Pannovate’s CMS platform offers highly configurable features, covering for example:

  • Full card lifecycle management (from physical, vitual and tokenised products across corporates and consumers, with integrated end-to-end lifecycle management through order, replacement, renewal, status management, PIN services)
  • Transaction lifecycle management (authorisations, clearing and settlement, reversals and refunds, balances and statements, disputes and chargebacks, usage restrictions and limits, treasury and STIP services)
  • A real-time, comprehensive card and transaction fee management service that allows the banks to monitise their card programmes
  • Customisable delivery of user notifications, for example to drive engagement and promote financial awareness
  • A whole host of additional services such as fraud monitoring, contact centre, PSD2 compliance, open banking / open finance (to highlight a small sample).

To Infinity and beyond

Pannovate has a clear vision for its partnership with Temenos – to become the enrichment layer and rapid innovation arm for Temenos and mutual clients with respect to card management services, building on the new and unique way its advanced CMS complements Temenos’ Transact and Infinity products.  In partnership with Temenos, Pannovate is ready to respond to the challenges faced by banks needing fast and future-proof solutions in today’s ever-changing landscape.

We are excited to see what the future holds being part of the Temenos family. To visit Pannovate on the Temenos Exchange, request a demo or browse the Pannovate CMS Solution please click here

Temenos – Company