Paymentology Goes Live on the Temenos MarketPlace, Bringing Cloud-Native Payment Processing to Banks Worldwide

  • Payments , Banking
  • 21.09.2021 10:00 am

Partnership with Temenos opens up Paymentology technology for banks to deliver more customer-centric payment services                                                                                                                                                          Temenos (SIX: TEMN), the banking software company, today announced that Paymentology, the banking digitization, payment and data specialist, is now live on Temenos MarketPlace. The collaboration offers Temenos banking clients a pre-integrated solution to deliver innovative card products with spend controls and enhanced features, backed by highly secure, cloud-native payment processing technology.

Paymentology is a market leader in payments processing, used by many of the most disruptive challenger banks, such as Revolut and Standard Chartered's Mox Bank, to power their highly customer-centric card programs.

The SaaS solution provided by Paymentology empowers banks to have more control over their cardholders' spend-cycle, allowing them to create and modify card programs in minutes, not months. It also will enable banks to offer buy-now-pay-later (BNPL) and installment services, as well as insurance, to their cardholders.

The technology provides banks with an enriched real-time data feed with access to over 120 lines of data associated with any given transaction, rather than just the 10-20 lines of data most legacy systems use, which may not even be accessible in real-time.

This capability allows banks to understand their customers' behavior and requirements better. It also empowers banks to launch more effective card programs based on more granular, calculated, data-driven decisions. Access to enriched customer data combined with Paymentology's flexibility enables banks to offer new service lines that transcend the traditional bank-customer relationship.

Joining the Temenos MarketPlace will significantly shorten Paymentology integration projects to existing Temenos customers, providing faster speed to market to ultimately enhance the customer experience.

Abe Smith, CEO at Paymentology, said: "As the leading cloud-native banking platform, Temenos is a natural partner for Paymentology, the leading cloud-native issuer processing platform. We share a commitment to helping banks know their customers better and deliver a better service through data and digitization. Together, we are helping banks better support the customer spend journey via AI-enabled data analytics, meaning they can offer service solutions for debit, credit, prepaid and commercial cards."

Martin Bailey, Product Director, Temenos, said: "Paymentology is one of the most advanced cloud-native issuer processing platforms. They are a global leader in guiding banks to the forefront of the digital payment millennium, with unparalleled flexibility, security and data-rich reporting. Through Temenos MarketPlace, we are opening up this capability to our clients worldwide, enabling them to deliver innovative payment experiences much faster. In today's hyper-competitive payments market, this ability is vital for banks to differentiate and stay ahead of the curve."

MarketPlace is Temenos' ecosystem for connecting banks with the best in complementary fintech solutions, such as Codat, Tink, Taurus, and Wise. More than 3,000 banks and financial institutions worldwide run on Temenos cloud-native banking software and SaaS solutions.

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