Temenos (SIX: TEMN), the banking software company, today announces that Trezeo, is now live on Temenos MarketPlace, Temenos’ platform for connecting banks and fintech firms.
London-based Trezeo, this year reached the final of the Innovation Jam competition series, as well as won the MIT Inclusive Innovation Challenge. The company offers a business account to self-employed workers, who make up a growing proportion of the United Kingdom workforce. The account has features such as income aggregation, automatic saving, income advances and income top-ups, to allow these freelance workers, whose incomes are subject to significant variability, to smooth out their incomes.
Now, as part of the Temenos MarketPlace, Temenos customers will be able to partner with Trezeo or offer the service on a white-labeled basis. Since freelancers represent more than 15% of the workforce on average across the developed world, as well as the fastest-growing employment category, this gives banks access to a service that not only reaches a new customer demographic, but one that is typically underbanked.
Garrett Cassidy, CEO of Trezeo, said: “The biggest challenge of being your own boss is managing income throughout the year. This is unnecessarily stressful, can force you to use expensive financial products and can take the flexibility and joy out of being self-employed. This is what Trezeo fixes and we are delighted to bring the service to a much bigger number of freelancers thanks to the Temenos MarketPlace. "
Ben Robinson, Chief Strategy Officer at Temenos and Head of MarketPlace, said: "By adding Trezeo to the Temenos MarketPlace we are responding to customer demands in two ways. One, our customers ask us to find innovative fintech solutions and integrate them with the Temenos products. And two, increasingly they are asking us to provide not just complementary applications, but banking services they can offer to reach new customers and to increase wallet share with existing customers. We are delighted to now be able to offer the Trezeo service through Temenos MarketPlace."
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