Temenos (SIX: TEMN), the market leading provider of mission critical solutions to the financial services industry, today heralds a new dawn in global payments processing with the launch of its new payments hub, Temenos Payment Suite (TPS).
Designed by banks for banks, in conjunction with ABN AMRO Bank N.V., TPS has been built around a universal payments process. This enables banks to move to an elegant centralised infrastructure, providing a flexible solution to manage transactions from any source, in any format, to any destination.
TPS's advanced architecture will provide true product flexibility in real-time. The ability to tailor services and increase processing capacity offers real and measurable benefits to customers. TPS also allows banks to quickly and effectively react to changing market demands and competitor threats whilst reducing maintenance risks and costs. Using Temenos' award winning technology, TPS's multiple components provide banks the agility and control to manage their payment operations.
"Banks around the world are moving towards an enterprise approach to payments through which they can fully embrace the concept that 'a payment is a payment'" said Andy Schmidt, Research Director, CEBTowerGroup. "This flexible, scalable approach to payments allows banks to increase efficiency and visibility, all while reducing cost, risk, and time to market in an increasingly competitive industry."
Amanda Gilmour, Temenos Product Director, Payments, added: "The payments market has never been so exciting. Banks are increasingly turning their focus to new territories, new channels and, as a result, new profitable lines of business. TPS has been especially designed with these opportunities in mind and is primed to support any payment operation. It manages vast volumes of transaction and payment data, allowing banks to understand where their possible profit or retention opportunities are. We are delighted that we are now ready to offer this advanced solution to the marketplace. With TPS, banks can genuinely lower their total cost of ownership whilst taking advantage of the range of value added services available to them and their customers. "