Products

Temenos Regulatory Compliance

Address fraud, remain compliant with regulations and manage risk with our modular products.

Why Temenos Regulatory Compliance?

Remaining compliant with local regulatory and business standards is vital to financial institutions. Temenos has a wide range of product and service offerings designed to help you manage risk and remain compliant.

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Leverage Temenos’ client base & experience

Temenos leverages its wide client base and extensive experience to offer packaged toolkits and solutions to help our clients remain compliant with changing regulatory and business practice requirements.

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Integrated with Temenos Solutions

All of the regulatory compliance solutions are pre-integrated into standard Temenos software, which makes their adoption and subsequent usage straightforward.

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Turning regulatory change into competitive advantage

By reducing your bank’s need to focus on implementing regulatory change, this solution frees you to focus on your business opportunities rather than spend valuable business and technology time dealing with topics that affect all banks in their market.

Product overview

Regulatory maintenance

Temenos Regulatory Maintenance is a packaged service offering that offers your bank certainty over the cost and timing of solution changes which you identify as being necessary to maintain regulatory compliance.

Revised payment service directive (PSD2)

Temenos provides support for PSD2 within Europe and our solution is extendable to support similar Open Banking directives across the globe. Support for PSD2 is provided using a configurable solution, enabling your bank to implement the secure sharing of information and services via APIs from various API guidelines.

Customer data protection

Since the arrival of personal data regulations such as the GDPR, it is more important than ever that financial institutions process personal data accordingly to prevent data breaches. Temenos’ solution assists clients to identify and process personal data in accordance with data protection obligations.

Financial crime mitigation

A single product family designed to mitigate the full range of financial crime activities, supporting all user functions: alert manager, case management, reporting, and dashboards. Used by over 200 banks globally from very large T1 to small regional branches, Temenos’ Financial Crime Mitigation is highly rated by both clients and industry analysts.

Foreign Account Tax Compliance Act (FATCA)

FATCA is a module fully integrated into Temenos Transact, that helps Foreign Financial Institutions (FFIs) comply with FATCA legislation out-of-the-box, supporting all three phases of the requirements including client classification, withholding and reporting.

Common Reporting Standard (CRS)

CRS is a module integrated into Temenos Transact focused on client identification, due diligence and reporting (AEoI) requirements according to the OECD Common Reporting Standards.

Markets in Financial Instruments Directive (MiFID) II

Support for MiFID II is provided covering securities trading by private individuals. This covers both the profiling of investors’ knowledge levels and compliance enforcement during order processing activities.

International Financial Reporting Standard (IFRS) 9

Temenos leverages on its fully integrated architecture to provide a comprehensive and flexible solution to help banks with the challenges of the adoption or transition to IFRS9.

Financial Action Task Force (FATF)

Support for the FATF on Money Laundering is provided in the sanctions screening area of the Temenos solution. All payments and other messages are screened against a maintained watchlist using intelligent pattern matching to reduce the number of false positives. In addition, the system automates the identification of possible breaches and enables the bank to investigate and efficiently manage the case to a successful conclusion.

Basel II & III

The Temenos Financial Risk Management solution includes a robust dataset that harnesses real-time risk data from Temenos Transact and a powerful analytical tool for Credit Risk. This provides your bank with an out-of-the-box modelling capability for computing Probability of Default (PD) and Loss Given Default (LGD) to support advanced Credit Risk requirements of Basel II/III and IFRS9.

Legal Entity Identifier (LEI)

The Legal Entity Identifier (LEI) is a 20-digit, alphanumeric code based on the ISO 17442 standard developed by the International Organization for Standardization (ISO). The LEI module supports the Temenos software for management and validation of customer’s LEIs in Temenos Transact. The LEI directory component can be populated from external source(s) for validation during KYC and client on-boarding checks.

Single Euro Payments Area (SEPA)

SEPA support is provided for EUR zone payments and associated transactions, covering all instrument i.e. SEPA Credit Transfers, SEPA Direct Debits, and SEPA Instant.

SWIFT

Temenos works closely with banks to ensure that the updates to SWIFT messages and the implied associated workflows are reflected in the software and are made available to our clients in plenty of time to allow for testing and live deployment.

Country model banks

Temenos Country Model Banks solutions enable banks to comply with local regulations and business practices at a lower cost. Providing targeted functionality, interfaces and configurations in reusable components, implementation times and product time-to-market can be reduced, enabling banks to focus on providing the differentiators to make them stand out from the market.

Financial risk management

Temenos Financial Risk Management provides banks the ability to comply with complex risk and regulatory requirements and run sophisticated risk analytical models. Temenos’ Risk solution delivers results that enable risk-informed decisions to ensure greater efficiency and transparency at reduced cost.

New definition of default for credit risk

Temenos New Definition of Default provides a fully integrated modular product solution to help firms address the challenges of complying with prudential rules for calculating capital adequacy within the broader context of credit risk management.

Qualified Intermediary (QI)

As a fully integrated module in Temenos Transact QI helps banks that act as Qualified Intermediary (QI) under chapter III of IRS (USA), to comply with the documentation and withholding requirements relating to income received by its individual and institutional clients investing in US securities.

Customer success stories

ABN AMRO – Success Story

Temenos has supported ABN AMRO every step of the way providing solutions for international corporate banking, private banking, and global international payments.

AIB – Success Story

Arab Investment Bank is one of the fastest-growing banks in Egypt, specializing in personal, business, investment, and Islamic banking. To build on its success, the bank initiated a digital transformation…
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“As the first Moroccan bank to open in China, this expansion will act as a catalyst for economic relations between Africa and China. By offering a banking platform that is already compliant with Chinese regulations, and running it on Temenos Cloud, we accelerated the launch of our operations in China. Thanks to Temenos’ model bank approach, we obtained a new banking license, and have implemented a new core banking system that meets local regulations while supporting BMCE Bank of Africa’s ambitious growth strategy.”

Said Adren, General Manager at BMCE Bank of Africa

You’re in good company

Latest insights

Technovela “Casa de Temenos” – Episode 11: Lima, Peru

This first episode of 2022 takes us to the beautiful coastal city of Lima, Peru. While there, the Temenos Latam team was kept super busy by hosting a private event for local banks and financial institutions, visiting clients such as BNP and of course exploring a bit of what this fantastic city has to offer.

Latest news

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Compliance considerations with employee incentives

Is your financial institution contemplating new and innovative marketing plans to further product sales within your organization? Join Senior Compliance Advisor Lisa M. Lugtigheid as she discusses regulatory implications that could arise when developing incentive payments to employees to encourage cross-selling to existing customers.
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For Love or Money? Identifying and Reporting Romance Scams

As dating apps and social media use continues to increase, the trend of romance scams may continue to increase as well. Join Senior Compliance Advisor, Rachelle Dekker, CRCM, as she discusses how financial institutions can keep their customers and members informed and alert to these types of  financial scams.
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Junk or Justified? A Focus on Fees

The Consumer Financial Protection Bureau recently issued a series of press releases requesting feedback from the industry on the issue of “junk fees” consumers are charged by financial institutions.

Upcoming events

Temenos Community Forum

Temenos Community Forum 2022

After more than two years of meeting virtually, we are excited for the return of TCF as an in person event at the ExCeL in London on 17-19 May.
Industry Event

Irish Funds Annual Conference 2022

Join us at this year’s Irish Funds Annual Conference to discover how we’re helping asset servicing firms and asset managers around the world through their digital transformation journey.

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