Temenos unveils financial processing solution, Temenos Positions

By Gloria Methri

Temenos has introduced Temenos Positions, a financial processing solution designed to transform banking operations with complex, multi-core systems across retail and corporate banking lines of business.

Temenos Positions serves as a real-time source for maintaining and sharing balances, instruments, and financial movements across an entire bank’s system landscape, regardless of the underlying technology stack. This allows banks to reduce operational risk, increase financial efficiency, and develop and quickly take to market complex financial products and services, thus increasing profitability and customer experience.

Many banks today run on legacy technology stacks with multiple core systems operating in silos and face massive challenges in core transformation because of the complexity of replacing the entire IT landscape. This results in a lack of a 360-degree view of real-time financial positions, high costs of integration and reconciliation and manual processing. With Temenos Financial Positions, banks can address their immediate operational efficiency needs and can also embark on a progressive modernization journey without having to transform their entire core banking platform.

Composed of Temenos banking capabilities, the new solution leverages decades of investment in the company’s core banking platform. This investment ensures that it can meet the complex use cases for back value processing and multiple balance types. The solution is designed for serverless deployment – a new, leaner, and faster way for Temenos to build and release solutions. This new deployment technology builds and deploys capabilities as discrete libraries, offering up to 30% faster deployment and supporting cloud-native deployments on a single database. Additionally, the solution is extensible to other related areas, such as partying and pricing, further enhancing its versatility.

Tony Coleman, Chief Technology, and Innovation Officer, Temenos said, “The inconvenient truth for many banks is that they have no real-time positions or funds authorization across the enterprise. Temenos Positions solves this problem by providing a real-time source for all balances and funds authorization. Engineered to handle a vast number of instruments and high-volume processing, Temenos Positions can process high volumes of instruments efficiently and at scale. It does this without Close of Business processing, just a simple date flip, making it ideal for banks with large transaction volumes.”