22 October 2024
Written By FinTech Alliance in FinTech
Temenos has launched a SaaS-based enterprise service for cross-border payments, aimed at Payment Service Providers (PSPs) such as banks, fintechs, and electronic money institutions (EMIs). This service enables organizations to streamline and reduce the costs of cross-border payments while meeting the G20’s targets for transaction speed, cost transparency, and accessibility by 2027. The pre-configured, cloud-native service is designed to work seamlessly with legacy systems, offering real-time connectivity to multiple remittance networks. It leverages low-code tools to enhance scalability and efficiency, leading to faster payments, lower operational costs, and improved customer satisfaction. PSPs also benefit from regular updates to keep up with regulatory changes and new standards, all while enjoying enhanced security and performance through Temenos’ scalable platform.
– The service is especially beneficial for organizations using legacy payment solutions, as it integrates easily without requiring a complete overhaul, reducing risk and speeding up time to market.
– By leveraging automation and real-time payment rails, the service allows PSPs to reduce manual processing, which helps lower operational costs and improves efficiency.
– Through its SaaS model, Temenos offers continuous updates to ensure PSPs are compliant with evolving regulations and standards, providing ongoing support and security at scale.