Banking software company Temenos has introduced banking distribution services as part of its Temenos Infinity product.
Temenos Infinity, launched in 2019, gives banks the ability to transform at scale, creating AI-driven customer experiences.
Go deeper with GlobalData
Max Chuard, CEO, Temenos, said: “At Temenos, we recognise that distribution has split from manufacturing. This is in response to open banking and other structural changes in the banking industry. Last year we launched Temenos Infinity and Temenos T24 Transact to offer banks more choice in how they wish to transform and today we are launching another Industry first with the delivery of API and micro-service based distribution services in Temenos Infinity.
“This major milestone, unmatched in the digital banking market, gives banks the ability to offer personalised, explainable AI driven products, rapid development and deployment, and reduced cost of operation up to an enterprise-wide scale. While other digital banking products put limits on the biggest banks, Temenos Infinity gives a path to the future.”
New services
Building on its current services, Temenos is offering banks a number of new distribution services. These include, onboarding services, a marketing catalogue, real time engagement for marketing, multi-party services and holdings and arrangement services.
In addition, Temenos will offer payment initiation and a funds authorisation service.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe announcement comes as banks are moving towards open banking by separating product distribution from manufacturing. The aim is to distribute across multiple channels and meet the demands of their customers.
According to Temenos, the packaging of these new services separate from core manufacturing makes Temenos infinity the first to deliver a modern layered bank architecture.
In December, Temenos supercharged its retail banking portfolio by adding wealth management apps into Temenos Infinity.
The apps included robo-adviser and goal-based investment apps to enable banks to create and maintain a portfolio.
