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Temenos Regulatory Compliance

Temenos support for Open Banking

Assisting banks to be compliant to and take advantage of Open Banking initiatives across the globe.

Why Temenos

Temenos supports financial institutions with their obligations for Open Banking, including directives such as PSD2. Temenos also enable banks to take advantage of the opportunities arising from the emergence of an open banking market.

Our bilateral solution enables the secure sharing of information with authorized TPPs and also provide Account Aggregation capabilities for banks wanting to become AISPs.

Our out-of-the-box APIs support several API Guidelines to facilitate requests from third-party providers (TPPs). We assist requests to be fulfilled securely and consistently and give your customers full control over the accounts, data and services they provide external access to.

Our Temenos Infinity solution enables broader open banking strategies through the aggregation of third-party accounts.

Facilitating an Open Banking Market

Temenos supports numerous banks with Open Banking obligations internationally.

We support our clients with different Open Banking API Guidelines and enable aggregation strategies for banks looking to become an AISP.

Leveraging APIs and ISO20022 in Payments

API Guidelines

Temenos’ API framework provides brand new enterprise APIs aligned with various published API standards including:
• Berlin Group (an API implementation guideline used widely across the EU)
• UK Open Banking
• Australian CDR

Account Information APIs

Our APIs support the following account information APIs from regulated AISPs:
• Get Accounts
• Get Account Details
• Get Account Balances
• Get Account Transactions
• Get Transaction Detail

Payment Initiation APIs including Payment Transparency

Support for the following Payment Initiation APIs from regulated PISPs:
• Payment Initiation
• Cancel Payment
• Get Payment Details
• Get Payment Status
Including Payment Transparency functionality helping your customers to be aware of the fees and charges related to transactions.

Fund Management - a hand with a lightbulb hovering over it with a tree inside it

Confirmation of Funds

Support for Confirmation of Funds requests from regulated CBPIIs.

User Experience

Temenos provides Open Banking User Agents to assist with your customer’s open banking journey.

Our User-Agents allow your customers to, in simple terms, view exactly what a TPP is requesting before confirming access to information or services.

Fund Administration Multifonds Global Accounting - Man and Woman Accountants

Account Aggregation

Our Temenos Infinity solution enables a fully digital banking experience, including account aggregation functionality.

Enable aggregation strategies through gathering consent and third-party banking data so a user can obtain a total banking view in their banking app.

Open Banking and Instant Payments; an essential partnership

Third-Party Bank Connections

We use micro-services to capture and store all the necessary banking data from third parties and utilize industry-leading connection providers to connect securely to third party providers via APIs.

Cloud Security

Security and Non-Repudiation

Enhanced security functionality and non-repudiation services to assist with traceability of TPP requests and aid with tamper-evident logging for PSD2 requests.

Policy Engine

A Policy Engine to assist with transaction analysis, which contributes to Strong Customer Authentication (SCA) requirements under PSD2.

Product Overview

Berlin Group API Guideline

Temenos provides support for the EU wide Berlin Group API Guideline (v1.3.4) for TPPs
• Account Information
• Payment Initiation
• Funds Confirmation

UK Open Banking

Temenos provides regional support for UK Open Banking (v3.0) for TPPs
• Account Information
• Payment Initiation
• Funds Confirmation

Australian CDR

Temenos provides regional support for the Australian CDR for TPPS
• Product Catalogue information
• Future support for Account and Party Information

User Experience Agents

Temenos enables your clients a seamless user experience for Consent and Payment authorization with our PSD2 User Agents
For Bank’s acting as AISPs – we provide a full banking app for AISP requirements

Payment Account Definition

Determine which types of accounts are considered Payment Accounts and eligible to be available to regulated TPPs.

Consent Management and Validation

Give your customers control over which TPPs have access to their accounts and services, and only share data where consent is given.
Store consent received for AISP capability.

Policy Engine

Temenos provides support for transaction analysis contributing to SCA eligibility requirements under PSD2.

Account Aggregation

Enable open banking strategies through digital banking apps and APIs, collation and storage of third-party banking data using bank to bank APIs.

Traceability Micro service

Temenos provides support for non-repudiation requirements under PSD2 – including tamper-evident logging.

Request Validation

Aiding the secure sharing of information;
• Open Banking Directory store and TPP Role Checking* – including an automated interface with a European Open Banking Directory.
• Payment Account Validation
• Consent Validation
• User Permissions Validation
*Dependant on banks having their own subscription to an Open Banking Directory or NCA to populate an internal directory store.
eIDAS/security checks must be handled at the Bank’s own API Gateway

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