Laskaris Finance has chosen Temenos as its strategic technology partner, implementing both Temenos T24 Transact and Temenos Financial Crime Mitigation (FCM) into its solution.

Laskaris is currently in the process of applying for a banking license with the ECB and MFSA, and decided to go with Temenos T24 Transact as the system provides the bank with agility to launch in a short timeframe, while also maintaining regulatory standards.

The system will work as the foundation of the digital banking ecosystem, supporting areas key to the launch including risk management, compliance, customer relationship management and reporting, with the core banking system hosted in a private cloud environment.

Furthermore, the Temenos FCM product will work as Laskaris’ screening tool against financial crime.

Roderick Psaila, founder and CEO at Laskaris Finance Limited, said: “Laskaris needed a technology partner that understands the nuances of the market, and would allow it to swiftly respond to advancements in technology, and thereby to innovate over current banking practices.”

Temenos, which has a strong Maltese footprint, invests 20% of its revenue into research and development, enabling it to deliver a cloud-native, cloud-agnostic banking software, making it the clear choice, Psalia explained.

“The agile core banking platform will enable us to quickly deliver new and innovative financial products and services to a demanding and sophisticated clientele. Laskaris accepts the responsibility of challenging the status quo in banking – naturally within the parameters set by the local and EU regulators – simply because clients deserve to be provided with a superior array of banking services.”

Steen Jensen, managing director – Europe

Malta is considered a top tier financial service jurisdiction, as is its financial institutions, and the country has implemented financial services regulation and a favourable legal and regulatory framework, attracting foreign interest. In this space, Laskaris aims to offer services to high-net-worth individuals and corporate banking clients.

Steen Jensen, managing director – Europe at Temenos, said: “We are excited to see the growing list of challenger banks in Europe and globally choosing Temenos as the most advanced digital banking platform in the marketplace which will enable them to launch in record time. Our work with Laskaris and being part of its journey to become a challenger bank further demonstrates that Temenos offers the most advanced technology for banks looking to push the limits of traditional banking and reinvent what banking looks like.

“The signing makes Laskaris the tenth client for Temenos in Malta, among the likes of Truevo and Credorax, a testimony to our local expertise and growing footprint on the island. Temenos’ proven cloud-native, cloud-agnostic banking software will enable Laskaris to develop innovative product offerings and increase the future bank’s speed-to-market. We look forward to partnering with Laskaris on this exciting launch,” Jensen said.

Sunniva Kolostyak
by Sunniva Kolostyak
FinTech Reporter at IBS Intelligence
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