Temenos will be supporting the Hack/ Make – The Bank Hackathon event, being held on 21 March 2014 in London. During the event it will test its new banking application programming interface (API).
Hack/Make The Bank, now in its third edition, hosts programmers, designers and financial services industry experts for a day of brainstorming and software creation. Attendees will leverage and combine a number of financial and related APIs to bring their innovative ideas to life.
The event is organised by The Open Bank Project, TESOBE, and Level 39. Temenos is supporting The Open Bank Project, which will be connecting to T24, Temenos’ core banking system via the Temenos Interaction Framework to explore the potential for building out new and innovative applications.
The fruits of this collaboration will be showcased at the Temenos community forum in Rome on 20-22 May 2014.
If banks are to improve the capability for innovation, they need to embrace open banking. A significant aspect of “open banking” involves making APIs available, so that partners can develop banking apps and ancillary services to extend the bank’s innovation capabilities, at the same time as potentially creating new revenue opportunities.
Martin Bailey, Product Director of Temenos, said:
“We are very excited to be taking part in the hackathon event and testing our API. We’ve recently been putting a lot of work into the interaction framework. It speaks to our products, like Triple’A Plus, Insight, JPBM, and searchable databases; it understands the concept inside them, and exposes them in a neutral, friendly way – which makes it very easy to develop apps for smartphones and tablets. It will be fantastic to see what our developers can produce in a single day.”
Simon Redfern, Founder of The Open Bank Project, commented:
“We are thrilled that Temenos is supporting Open Bank Project API connectivity to their T24 system. It means that T24 customers will instantly have access to a growing range of apps and services that make up our growing financial innovation ecosystem – all discoverable via our app store for banks!”
About The Open Bank Project
The Open Bank Project is an open source API and App store for banks that empowers financial institutions to securely and rapidly enhance their digital offerings using an ecosystem of 3rd party applications and services for the benefit of their customers.
The Open Bank Project is supported by TESOBE in Berlin, an agile technical consultancy specialising in web and mobile application development. The Open Bank Project was incubated by the Accenture lead Fintech Innovation Lab London 2013 and is currently being incubated by the Open Data Institute London.