Temenos extends its cloud leadership with launch of Microsoft Azure-based Payment Hub
Temenos, the software specialist for banking and finance, has extended its leadership in cloud-based banking and finance software with the launch of its Payment Hub in cloud on Microsoft Azure.
Darryl Proctor, Product Director – Payments, Temenos, stated: “We have been pioneering with Microsoft since 2011, which led to Temenos becoming the first vendor to put a core banking system in the public cloud. We are now extending our capabilities by becoming the first to launch a Payment Hub, that is fully embedded into a core banking platform, in the cloud. With the addition of payments to our cloud offering we have the most complete cloud-based portfolio available in the market. We see a real appetite in the banking space for cloud solutions, with 22% of new business taking cloud services as an alternative to on-premises deals and a doubling of average deal size.”
The payments cloud service enables banks to transform their payments offerings at a much lower initial investment, in turn providing better value to their customers. Temenos’ Payment Hub operates as a fully embedded component of the Temenos Core Banking platform, and is available both in the cloud and on-premises. The Payment Hub can also run as a standalone payment processing engine offering banks a single solution for processing low value, high value and instant payments. The result is increased efficiency and improved user experience, driven by real-time processing that reaches beyond the payments space for a unified experience from end-to-end.
Built from the ground up, this agile, componentized, standalone Payment Hub, paired with the global scale of Azure, enables quick time-to-market and ease of implementation while reducing maintenance effort and the total cost of ownership. The Payment Hub is designed to bring the best experience to both the user and the bank across all channels, with features like intelligent routing and settlement to find the best route for payment, and the ability to process high value, high volume and real-time payments transactions together in one solution.
Janet Lewis, Vice President of Worldwide Financial Services at Microsoft, commented: “Technology is increasingly providing financial institutions a competitive edge, and is enabling firms to deliver essential financial services to people around the world – services that can drive entrepreneurial spirit, build community, and foster creativity and purpose. We have been working with Temenos to revolutionize the banking industry – extending their Payment Hub into Microsoft Azure gives them the most complete cloud-based portfolio. By pairing their payments offering with Microsoft Azure, Temenos will enable banks to tap into this vibrant, evolving market, while also providing banks and their customers with the assurance that comes with the security, privacy and compliance built into Azure.”
Read more on the Microsoft Banking & Capital Markets and Insurance blogs
