Temenos (SIX:TEMN), the banking software company, and LUXHUB, the European Open Banking API platform service provider, announced today that Fortuna Banque, which signed with Temenos for T24 Core Banking and Channels in March 2017, has chosen to use the LUXHUB service platform, in conjunction with the Temenos T24 Core Banking PSD2 module, as a first and immediate step, to comply with the PSD2 Directive and standards.
Fortuna Banque’s choice will support the bank in maximizing the opportunities related to the new Open Banking economy.
With just over 200 calendar days left, Temenos together with LUXHUB, will allow Fortuna Banque to open up the mandatory Application Programming Interfaces (APIs) in time to meet the deadline for effective application of the regulatory technical standards. Temenos together with LUXHUB will help Fortuna Banque to avoid the “Fall-Back Option” of using a bank’s online banking interface. Moreover Fortuna Banque will be ready to begin discussions with external partners to build supplemental services towards its customers.
Mike Felten, Director, Fortuna Banque commented: “Investing in digital transformation is crucial to accelerate innovation, create added value and enrich our customers’ experience. Temenos T24 Core Banking coupled with the LUXHUB platform and services will enable Fortuna Banque to easily comply with the PSD2 directive. Moreover it allow us to take advantage of the new Open Banking economy, which will arise in the near future. Another key factor to choosing LUXHUB as our service provider together with Temenos’ packaged upgradable software is the very competitive total cost of ownership of the proposed solution.”
Jacques Pütz, CEO, LUXHUB, added: “We’re very excited and proud to welcome Fortuna Banque in our fast growing ecosystem. The decision emphasizes the fact that LUXHUB is flexible and is ready to on-board all range of financial institutions. This is confirmation that LUXHUB is naturally positioning itself from its inception as a key player to drive the European Open Banking economy.”
Steen Jensen, Managing Director - Europe, Temenos, said: “We are excited by this opportunity to work with Fortuna Banque to implement the Temenos PSD2 solution and to maximize the Open Banking market opportunities which they have, building on their decision to use Temenos’ T24 Core Banking and Channels solutions. PSD2 is placing new demands on the underlying technology infrastructures of incumbent banks and Temenos provides a fully integrated front-to-back API-based architecture that addresses the technology challenges of PSD2 and open banking.”