Temenos Transact – Core Banking

Temenos Transact
Retail Banking

The most agile and complete modern retail core banking solution

Why Temenos Transact Retail Banking

Temenos Transact Retail Banking offers a functionally rich, flexible and agile core processing engine that enables your institution to offer personalized, customer-relevant products, while allowing for lower operational costs and increased ROE.

First to Market with New Products

Temenos Transact allows new products to be created quickly and managed through the entire lifecycle, with the initial design and launch being achieved in market leading timescales.

Couple looking at smart phone

Increase Cross-selling

Temenos Transact has an integrated product catalog which helps banks to target products for cross-sell to existing, as well as new, customers.

Woman paying for coffee

Personalized and Flexible

Temenos Transact has specialised capabilities which support banks to create products offers and reward schemes which are personalized at either individual or household level. These can be flexed to produce offers which are both attractive to customers and profitable for the bank.

Woman on laptop

Broad Functionality

Temenos Transact covers all retail banking product areas, allowing banks to offer a complete solution to their retail banking customers, ranging from credit and lending, to deposits and accounts and payments.

Combine comprehensive capabilities easily

Temenos Transact allows banks to combine capabilities from across the entire Transact functionality set to produce innovative and focused products.

two men looking at financial results

Data

Temenos Transact has contextual data and analytic capabilities which help banks to understand their customers and business better and to produce more compelling and relevant offers.

Measureable Success

6 %

Banks with high personalization have a 6% higher ROE

8 %

Temenos clients have a 8% attrition rate compared to industry levels of 11%

Product Overview

Current, Checking and Savings accounts

Supported in multiple currencies and created and managed using a flexible and hierarchical product designer which enables the quick launch of new products and the efficient management of the overall product lifecycle. Specifically this includes support for interest and non-interest bearing accounts, simple to complex fee structures, balance requirements and statement cycles.

Fixed Term Deposits and CDs

Variable terms and pricing, with extensive options over rollover and other deposit lifecycle events.

Product Bundling

The ability to bundle products to match the needs of different customer segments. Interest compensation schemes, offset credit products, and packages are all supported capabilities. Fees and other pricing conditions can be bundled at the overall product bundle level.

Relationship Pricing

Relationship pricing/customer loyalty plans can be set up, offering a wide range of preferential pricing across product groups or individual products. Customers can be automatically downgraded or upgraded according to configurable rules. Pricing can be defined at an individual person or household level, with preferential conditions being set to encourage a higher product-per-customer ratio and to improve customer retention.

Retail and Consumer Lending

The flexible credit facilities engine enables the creation of many different types of retail credit, including credit on demand and various forms of purchase finance, in addition to more traditional unsecured and secured personal lending.

Mortgage and Residential Lending

Variable term, variable collateral mortgages can be defined using the flexible product designers to allow for compliance with local market standards. The hierarchical product engine allow for efficient creation of new products and the management of overall product lifecycle.

Broker Commissions

Introducer and Broker commissions can be defined, calculated and applied as well as settled to the relevant brokers.

Rewards

Reward schemes involving preferential pricing and other offers, as well as point-based schemes, are supported

T24 Transact - Core Banking

“Temenos software allows the bank to launch products in cycles that are probably 10x faster than before. We are working together with Temenos as partners to transform our business digitally from bottom up.”

Ezequiel Szafir, CEO, Openbank
Video

Flowe – Video Testimonial

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.

Video

Varo Bank – Video Testimonial

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.