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Strands and Temenos announce integration of their core software products to create the next-generation digital banking solution available for financial institutions worldwide. Integration of Strands’ award-winning Personal Finance Management (PFM) application with Temenos’ market-leading core banking system (T24) equips banks with a comprehensive platform to deliver added-value customer experience.
Strands has been a trusted Temenos Complementary Services partner since 2015 and the key to this alliance has been the application of Strands technology to enhance Temenos’ online and mobile banking platforms.
Integration of the two award winning solutions has created a robust out-of- the-box product where the interface extracts data from the backbone of T24’s core banking system and automatically feeds it to the PFM. This allows banks to connect the two systems with minimum assistance, including fields that require specific customisation.
Thorough data-mapping of the two systems is one of the key achievements of the engineers’ joined team effort. As a result the data is synced seamlessly which gives a sense of a holistic digital banking platform. The next steps that the teams are already working on are to finalize real-time integration and embed PFM in the Temenos frontend.
As result, more than 2,000 financial institutions that are already powered by T24 are able to upgrade their digital banking platform with PFM functionality, and the key advantage is quick time-to- market. This will enable banks to boost their capacity to generate rich customer insights, better understand customer needs and offer the next best action for each and every customer.
Pau Velando, General Manager at Strands said: “Strands and Temenos have joined forces to bring a more powerful and comprehensive banking experience to market.”
Strands is the FinTech partner for banks. With the mission of delivering best-in- class digital money management software (PFM & BFM), Strands leverages more than 10 years of expertise in Big Data and machine learning. Today Strands powers FinTech innovation in over 450 banks and serves more than 100 million banking customers worldwide.
Temenos Group AG SIX: TEMN, headquartered in Geneva, is a market leading software provider, partnering with banks and other financial institutions to transform their businesses and stay ahead of a changing marketplace. Over 2,000 firms across the globe, including 38 of the top 50 banks, rely on Temenos to process the daily transactions of more than 500 million banking customers.