banking software provider Temenos has introduced a new service aimed at making cross-border payments faster and more affordable.
The Temenos Cross Border Payments Enterprise service is available to banks, payment service providers (PSPs), electronic money institutions (EMIs), and fintechs.
It is designed to help organizations meet industry requirements and align with the G20’s goal of faster, cheaper and more transparent international payments by 2027.
This preconfigured service uses cloud technology for rapid implementation and cost efficiency.
It connects to multiple low-cost remittance networks, supports both real-time and SWIFT-based transactions, and provides flexibility for different payment flows.
This service is especially useful for organizations with legacy systems, helping reduce the risk of change and speeding new product launches.
By automating processes, the service reduces operational costs, increases straight-through processing (STP) speeds, and improves overall efficiency.
Delivered through Temenos SaaS, it offers continuous updates, regulatory compliance, security, and high-performance service level agreements (SLAs) that meet global standards.
Mick Fennell, Business Line Director – Payments at Temenos, said:
“With the launch of our cross-border payments enterprise service, Temenos reaffirms our commitment to customer-centric innovation in the payments industry.
This pre-configured, quick-to-market solution streamlines cross-border payments and enables banks and other PSPs to thrive in an increasingly competitive, real-time and diverse landscape. ”
Featured image credit: Edited from freepic
