Moneycorp taps Temenos SaaS to power global payments and FX expansion

By Gloria Methri

UK-headquartered cross-border payments and FX platform Moneycorp has selected Temenos SaaS to modernise its core banking and payments infrastructure. The company aims to accelerate global growth and enhance client experience with scalable, cloud-native technology.

Operating across Europe, North America, South America, and Asia, Moneycorp facilitates FX and payment services for corporates, financial institutions, and individuals. In 2023, the firm processed £71 billion in trading volume, served 11,000 B2B clients, 250 financial institutions, and 23,000+ individuals, handling over 1 million payments to 190 countries under 63 global regulatory permissions.

With Temenos’ multi-country Model Bank and API-driven architecture, Moneycorp will benefit from:

• Faster product launches across regulatory jurisdictions using a build-once, deploy-anywhere model
• Streamlined integration with its current ecosystem, improving agility and reducing delivery risk
• Advanced wallet and payments capabilities, allowing it to focus on customer growth while maintaining a seamless and personalised user experience

Srini Kasturi, Group CTO of Moneycorp, emphasised the need for cutting-edge technology to support the company’s mission: “Best-in-class technology is key to delivering the seamless client experience and personalised service that Moneycorp is known for, so we are delighted to partner with Temenos, an established global leader in banking technology. Temenos’ multi-country support and localisation will enable us to launch new solutions quickly around the world, while running on SaaS will help us to scale efficiently while maintaining our focus on delivering our award-winning, easy-to-use service to customers worldwide”

Mark Yamin-Ali, MD, Europe at Temenos, noted, “This strategic transformation will see Temenos underpin Moneycorp’s global core banking and payments operations with deep functionality and local expertise across Western Europe and the U.S. Moneycorp sought a SaaS solution with deep functionality and the latest technology—capabilities only Temenos could deliver—along with our expertise in Western Europe and the U.S. We look forward to working with Moneycorp to drive the next phase of their impressive growth story.”

This partnership reinforces Moneycorp’s ambition to grow its cross-border services and product portfolio globally, with the backing of a trusted and scalable FinTech infrastructure.