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Multi-jurisdictional Temenos Payments SaaS

Mick Fennell
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Mick Fennell – Business Line Director, Payments

In the previous videos and blogs in this series we identified key payments processing challenges faced by the international branch networks of banks and how they struggle to address the disparate needs of their multi-jurisdictional markets, be it through a lack of investment or access to appropriate environments and capabilities. This situation leads to many foreign branch entities feeling like they are being treated as second class citizens as they continue to seek to address their business critical challenges in an efficient and timely manner.

We also touched upon the opportunity that the addressing of today’s pressing challenges in payments processing presents to these organizations. The foreign branches have an opportunity to break the mould in how they have traditionally supported their local and international payment flows and thus take a giant leap into the future. Such a leap will be based on addressing their challenges through centralization, standardization, optimization, and SaaSification, i.e. embracing the power and flexibility provided by moving to the cloud with a sustainable, proven partner who can elevate the bank’s payment processing capabilities both now and for the long term.

This final episode in the series highlights why Temenos is ideally placed to be that sustainable, long term partner for regional or global, international entity networks in the ever changing digital payment age. Banks can now take advantage of the investment Temenos have made in next generation payment servicing, especially as the markets transition to real time, transparent, planet scale processing.

Built on the number 1 technology platform in banking, Temenos Payments enables banks to consolidate and streamline payments processing across multiple-jurisdictions, all delivered through flexible cloud based, containerized services.

Of particular note are capabilities such as:

  • Business rule and AI led orchestration
  • Optimized STP rates and Automated exception management
  • Ability to rapidly configure and launch new products
  • 50+ local clearings already supported out-of-the-box
  • Regulations updated automatically to ensure compliance
  • Advanced Dev Ops support for continuous deployment & continuous integration
  • Ability to extend to wider ecosystem beyond payments
  • Deployment options – ability to manage phased move to cloud with hybrid enabled software

Each and every one of these capabilities helps to address key challenges faced by the international branch networks of banks. In addition, even beyond this elevation of payment fulfilment facilities, the efficiency of the business can be further enhanced through key Temenos service partners who are providing advanced business process outsourcing services in addition to the solution infrastructure provided by Temenos.   

So now is time for foreign branch networks to seize the moment and break the mould, move away from legacy architectures with their high operational costs, and embrace the benefits of next generation, cost effective, sustainable,  SaaS based payments processing. We’re ready to talk!   

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Mick Fennell