Why Temenos Transact Core Banking
Temenos Transact is the most successful and widely used digital core-banking solution in the world. Using cloud native and agnostic technology, Temenos Transact provides the most extensive and richest set of banking functionality across retail, corporate, treasury, wealth and payments with over 1000 banks in 150+ countries relying on it to provide market leading and innovative products and services to their customers.
Leveraging Modern & Disruptive Technologies
Temenos Transact exploits new technologies to facilitate ease of use and ubiquity of access of everyday products and services for the end customer and enabling banks to meet their customers ever increasing expectations and demands.
Expanding Customer Segments
Customers have become more discerning and less loyal; they shop around for better deals from multiple providers. Temenos Transact enables banks to introduce new products using capabilities drawn from all sectors and hence continue to produce services and offers which are relevant, attractive and innovative, hence increasing customer loyalty and making it easier to acquire new customers.
Regulation & Market Practice
Regulation is no longer just about reporting and compliance. It is causing banking operating models to fundamentally change. Temenos Transact enables our clients to enjoy the certainty that regulatory compliance and key market standard changes will be applied to their Temenos solutions on time.
New entrants entering banking in the past few years share certain characteristics – they are all consumer-oriented technology-driven companies that are leveraging disruptive technologies to develop compelling propositions for their customers. Temenos Transact provides and leverages these technologies to enable incumbent banks to transform to more agile digital banking providers while also offering compelling solutions for challenger and neo banks
Continual Release Deployment
The solution has regular monthly releases of new functionality which ensure that banks can access new capabilities as soon as they are available. This expanding functionality is delivered as component level upgrades, and can be installed online with no system downtime, ensuring that customer services and operations are unaffected.
Challenging Market Conditions
Prolonged recessionary conditions have continued for many years over the last decade putting pressure on margins. ROEs have still not recovered since the pre- 2008 crisis levels of >20%. Cost models of new entrants are an order of magnitude different from the incumbent banks – cost income ratios of 30% vs 50s for most European banks. Temenos Transact’s modern digital banking architecture provides ample opportunity for end-to-end automation and provision of compelling customer products & services at a more efficient cost point.
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Longest, continuous, upgradeable use of software is 23 years so far
1080 total Temenos Transact clients
41 of the top 50 banks run Temenos
#1 best selling core banking system for 14 years – IBS Intelligence Sales League Table 2019
Largest client has 24 million accounts
Integrated Corporate Banking core system with unparalleled functional depth and capability
T24 is now Temenos Transact
Temenos Transact – Cloud-native, cloud-agnostic, API first and AI-Enabled
Customer Success Stories
Temenos has supported ABN AMRO every step of the way providing solutions for international corporate banking, private banking, and global international payments.
ACCU has introduced Temenos Mobile Payment Platform in the Philippines with great success, helping credit unions gain many new users, and now plans to roll out across Asia where its members boast 38 million customers.
Following a strategic shift, ACLEDA entered the banking market, and implemented Temenos Transact to underpin the transformation.
You’re in Good Company
Financial services firms are increasingly turning to the cloud to enable digital banking capabilities while simultaneously building resilience and agility into their core business infrastructure.
Banco Mediolanum launched Flowe in June 2020 with a unique vision. Targeted at a younger demographic that demands a more ethical and innovative approach, Flowe will be an environmentally-friendly digital bank that not only helps customers to build a sustainable financial future, but also partners with reforestation schemes and uses recycled wood for its payment cards.
Temenos’ innovative solutions and cloud technology allow Varo to put products in the market very quickly and support its hyper efficient cost model to pass real value back to their consumers.
Temenos technology supports Bank of Khyber’s strategic objectives to increase market share and drive sustainable growth by optimizing its banking operations and reducing operational costs
After a rigorous selection process, the bank selected Temenos’ next-generation core banking platform for its modernization journey in the area of account management.
Komercni Banka – Part of the Société Générale Group – Selects Temenos to Reinforce its Leadership in Digital Banking in Czech Republic
Komerční banka, one of the largest banks in Czech Republic, selects Temenos Transact to digitally transform banking for its 1.6 million customers and future-proof business growth
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