Temenos, a Swiss maker of banking software with a global client base, is taking a deeper dive into the payments game. The company has quietly added a payment suite to its list of products in recent days. The product will be officially announced at Sibos in September. The suite, nicknamed TPS (the company is fond of initialisms) is an offering to financial institutions to sell to business clients for processing payments. It is not card-dependent, and is set up for the long-promised world of phone-based payments. Temenos has seen the mobile payments world up close, working closely with the Commercial Bank of Africa, based in Kenya, makers of the M-Shwari mobile payments product. The company says the Payment Suite as being “payment type, format, source and channel agnostic.” It is also described as being data-driven, future-proof regarding changes in payment standards and formats, and set up to meet regulatory concerns. This last item is no small feat given Temenos’s global customer base. The service, offered to financial institutions, comes in three flavors based on institution size: Model, Advanced and Enterprise. Temenos offers a wide range of banking products, from software to speed up mobile transactions to data and business intelligence tools. Its [...]
↧