Temenos (SIX: TEMN), the banking software company, today announced that ABN AMRO has gone live with Temenos Payments in Hong Kong as part of its global strategy to rapidly rollout state-of-the-art payments capabilities in new markets.
Temenos Payments provides a single, global platform that enables ABN AMRO to quickly expand and onboard new countries. The bank also significantly improves straight through processing (STP) rates through advanced exception handling.
ABN AMRO has been a pioneer in digital banking and a Temenos client for over a decade, running Temenos T24 Transact, Temenos Payments and WealthSuite to transform its corporate and private banking activities. ABN AMRO deployed Temenos Payments in 2015 to provide a single global universal payments platform for high value payments in corporate banking in some countries where they are present. Temenos Payments has already been rolled out in Germany, UK, Belgium, Australia and now Hong Kong and it continues to future-proof ABN AMRO's growth and enable the bank to deliver seamless payments experiences to its customers with faster time to market.
ABN AMRO’s strategic co-development relationship with Temenos for global payments forms part of the bank’s international IT strategy designed to maximize re-use and drive simplicity. The strategy seeks to incorporate ONE Operating Model, ONE Application Landscape, ONE Code Base and ONE Technical implementation for the international branches supporting multiple business lines. A continuation of this global initiative, ABN AMRO plans to go live with Temenos Payments in Singapore and China ahead of the SWIFT ISO20022 payments deadline in November 2021.
Alex Room, Product Owner - Payments for ABN Amro International Core Banking, commented: “We are delighted to continue this long-standing partnership with Temenos as together we take our international payments strategy to new markets and geographies. We experienced yet another smooth go-live, working closely with the teams on both sides. Running the Temenos Payments platform across our international locations, we can harmonize our IT infrastructure. Temenos Payments plays a vital role in future-proofing our international payments strategy in a market where continuously evolving regulatory demands and rapid technological advancements demand agility and continuous innovation.”
Steen Jensen, Managing Director - Europe, Temenos, said: “We are excited to support ABN AMRO as it expands its reach across regions and fulfills its vision to transform payments and customer experience at a global scale. Our mission is to provide banks with the richest, packaged functionality and the most advanced cloud-native, cloud-agnostic software that helps banks continuously innovate and underpins radical growth. ABN AMRO has a single, state-of-the-art payments platform and benefits from economies of scale and improved STP rates. With our advanced technology, we enable the bank to stay at the forefront of payments product innovations and deliver outstanding digital experiences to its customers.”