Temenos Payments Hub launches on IBM Cloud to enhance security for banks

By Delisha Fernandes

Temenos Payments Hub has become the first payments solution to be available on IBM Cloud for Finance Services, an industry-specific platform designed to accelerate financial institutions’ digital transformations.

Now, with the Temenos Payments Hub on IBM Cloud for Financial Services, the solution is available across IBM’s hybrid cloud infrastructure, running on Red Hat OpenShift with IBM Power as well as LinuxONE.

Ross Mallace, EVP Global Head of SaaS & Partner Ecosystem, Temenos, said, “Following on from a number of recent wins for SEPA Instant processing in Europe and our certification for the FedNow program in the US as well as a win with a global payments leader, Temenos sees tremendous growth opportunities in the payments space. With Temenos Payments Hub, banks can quickly implement instant payments services like FedNow and can then proceed to progressively modernize their payments capabilities.”

Temenos Payments Hub is designed to offer the first step for banks to take advantage of the new payments initiatives such as the FedNow Instant Payments Service in the US and SEPA Instant in Europe and offer secured, digital banking services to customers. With Temenos Payments Hub, banks can progressively modernise their payments capabilities and their integration with new payments schemes and rails.

This collaboration with IBM cements Temenos’ long history of helping clients to transform with cloud, enabling the availability of Temenos’ payments solution on the public cloud and offering clients the confidence that the Temenos platform can help them address their stringent regulatory requirements. With Temenos Payments Hub on IBM Cloud for Financial Services, banks can combine IBM’s expertise in providing secured, cloud infrastructure with Temenos’ innovative payments solutions.

Prakash Pattni, MD, Financial Services Digital Transformation, IBM Cloud, said, “With Temenos Payments Hub now available on IBM Cloud for Financial Services, we are continuing our longstanding collaboration with Temenos to help financial institutions around the world deploy next-generation banking technology, improve customer experience and reduce costs. The payments ecosystem is at an inflection point for transformation and we believe this collaboration can be a catalyst for change – helping organizations on their payments modernization journey.”

By meeting the requirements of the IBM Cloud Framework for Financial Services, Temenos is the first payments solution on IBM Cloud for Financial Services, further reinforcing Temenos’ commitment to helping clients with their payments transformation, while also making it more accessible to the large number of financial institutions already working with IBM.