Process high volumes of payments
Temenos, a provider of banking software, is building a new payments system in conjunction with Netherlands-based bank ABN AMRO (view press release). The system will be based on the Temenos Enterprise Frameworks Architecture (TEFA) and is to be implemented globally at all of ABN AMRO’s international locations. The new payment system is a fully automated and centralised payment solution that can be integrated and provides comprehensive support for all types of payments in all international locations. It will be integrated with 24 core banking systems, which will provide banks access to cash management, liquidity, business intelligence, AML, payment repair and account and risk management capabilities. The gateway is expected to handle different payment schemes, formats and protocols and will allow new payment channels to be linked. The solution is expected to maximise business productivity, STP efficiencies, product flexibility, and overall customer experience.
Mark Winterburn, Group Product Director, Temenos says, “Today’s ambitious banks are hungry for expansion – into new territories and new profitable lines of business. The development of this fundamentally new payment services hub will deliver the industry a robust, fully automated system which will process incredibly high volumes of payments. We are very excited about this joint development project that will enable institutions to take a leadership position in this area.”
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