ABN AMRO has partnered with banking software vendor Temenos to
develop a new payments system to be implemented globally, to be
built in conjunction with the new Temenos Enterprise Frameworks
Architecture (TEFA) – a platform for Temenos’ T24 core banking
software.
Plans to co-develop the new payments system was announced at the
Temenos Community Forum in Barcelona on 24 May. The payments system
aims to be available as a standalone solution, to enable “seamless
operations in real-time” with any core banking or current accounts
system.
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The jointly developed payments solution – a first for Temenos –
aims to be fully integrated with the T24 core banking system,
allowing ABN AMRO to use all the core banking functionality
including cash management, liquidity, business intelligence, AML,
payment repair and account and risk management capabilities.
Mark Winterburn, group product director for Temenos told
RBI that the project entails a great amount of
“commitment” from both parties and the collaboration brings
together “ABN AMRO’s deep experience in using sophisticated payment
engines inside the bank, with Temenos’ integrated approach and
technology expertise”.
ABN AMRO has previously completed a complete
roll out of Temenos’ T24 software. According to Temenos, this
“global 24/7 solution” will enable ABN AMRO to handle greater
volumes of payments and “support its business growth and expansion
into new and existing lines of business and new territories, while
lowering cost of ownership, maintenance costs and risks”.
“The development of this fundamentally new
payment services hub will deliver the industry a robust, fully
automated system which will process incredibly high volumes of
payments. We are very excited about this joint development project
that will enable institutions to take a leadership position in this
area,” added Winterburn.
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By GlobalDataThe payment gateway will be capable of handling
different payment schemes, formats and protocols and will allow new
payment channels to be linked. Built using TEFA technology, the
solution will be made available on all standard platforms,
according to Temenos.
