Temenos has announced that Finland’s wealth manager bank, Aktia, has selected Temenos to modernise its payments capabilities adopting Temenos Payments Hub to support the introduction of pan-European instant payments and consolidate all payment rail processing onto a single platform.
The move is part of a strategic platform modernisation to deliver a better customer experience for domestic and cross-border payments with improved efficiencies and to meet continually changing regulatory and compliance requirements.
Aktia serves more than 250,000 individuals and over 20,000 corporate and institutional customers and already runs on Temenos for core banking. Aktia offers comprehensive banking and wealth management services through close collaboration between Aktia’s three business areas: asset management, banking and life insurance – adding Temenos Payments Hub will allow the bank to simplify and standardise its payments operations for all customers.
By running core banking and payments on a robust, API-first, flexible and highly configurable platform, the bank benefits from integrated accounts and payments processing and low latency execution which is required to deliver high levels of Straight Through Processing (STP) and efficient customer experiences. Furthermore, the single Temenos platform allows for faster and lower-cost updating and maintenance, which means a lower total cost of ownership.
Choosing Temenos’ cloud-native and cloud-agnostic platform also future-proofs Aktia’s technology strategy, enabling an initial on-premise installation with flexibility for seamless migration of its core banking and payments to the cloud or SaaS. Temenos Payments Hub can scale massively handling all payment types and schemes.