Keep Your Payments in Good Repair With Temenos

We wouldn’t blame you for being slightly bemused about this terminology since Payments Repair is another ‘new’ industry buzzword! So let’s fix that and make an introduction!

Real-time gross settlement (RTGS) and SWIFT payments often need manual involvement to repair wrong or missing data – what we call repaired. This adds costs for the bank and delays for their customers.

Manual intervention also adds delays and uncertainty into the process for time-critical payments. Making better use of artificial intelligence and machine-learning technologies could enable banks to reduce problems and become more efficient across the entire payments chain.

Leveraging new payment messaging types and standards for cross-border and real-time payments (e.g., SWIFT gpi or ISO 20022) also allows enriched data to be included at the payments initiation level – a bonus for the customer. However, the enhanced data sets available in the ISO20022 standard could potentially create more room for error and complexity if downstream systems are not compliant. Translation services can help but what if things go wrong? Do you have an insurance policy to maintain and/or improve your STP?


Temenos Payments Repair enables customers to move their money faster by repairing payments automatically without manual intervention, significantly increasing straight-through (STP) processing rates, especially for complicated high value and cross-border payment flows. The solution supports the creation of intelligent repair objects that run seamlessly within any payment processing environment, Temenos Payments Hub, or any other type of payments processing infrastructure (e.g. middleware, core banking system, payments switch, or payments gateway.)

Temenos Payments Repair delivers a suite of functional components that target the three distinct aspects of the exception correction process:

  1. Identification – The ability to identify where repairs are required and where repairs could improve processing.
  2. Creation – The ability to define, test, and generate data transformation and enrichment rules leveraging specialized Temenos curated knowledge bases.
  3. Execution – The ability to generate and seamlessly deploy processing objects into multiple environments for high performance, scalable, and resilient architectures.

This enables organizations to drastically reduce the need for re-keying of data or manual interventions. The result is dramatically improved STP rates as payments, especially those following the SWIFT MT or SWIFT MX data models, are automatically updated and corrected.

Features – Benefits for the Banks

Improving STP rates will be particularly beneficial during the SWIFT MT to MX migration from November 2022 to November 2025. Many banks will rely on translation services to populate the ISO messages with the old MT data equivalents.

In addition, the large set of existing rules built up by Temenos over some 15-plus years in the high-end cross border SWIFT payments repair world will immediately improve any bank’s STP rates and mitigate against any potential downside of the MX migration.

Already in Use With a Major Bank

One of our Tier 1 global banking customers has already licensed the Temenos ISO Payments Repair solution as a STP safety net for the SWIFT MT to MX migration. It has recognized the need to continue to use intelligent software to automatically repair SWIFT cross-border payments and not blindly rely on the new standards and structured data to deliver success.

What is your institution doing to ensure high levels of STP after the SWIFT ISO cutover in November 2022?

Do you have any insurance policy that will help you mitigate the risks of failed payments and unhappy customers?

Contact us to discuss how Temenos Payments Repair can help.