Temenos Regulatory Compliance

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.