IBS Journal: The iconic monthly FinTech magazine

February 2020 issue out now! Subscribe now

Launching India FinTech Report 2020

Market sizing and forecast of Digital Lending, Payments, WealthTech & RegTech. Subscribe now

Leading Back Office Systems for Banks

In-depth Supplier Profiles and User Lists. Subscribe now

In-depth Banking Tech and FinTech Research

Over 300 research reports that's updated quarterly. Subscribe now

Temenos & Codat to boost account integration between banks and SMEs

TemenosTemenos has announced that universal API and financial integration provider Codat has joined Temenos MarketPlace. Codat is expected to leverage the MarketPlace and provide pre-integrated access between banks and SME clients’ accounting packages.

Paul Roberts, Director – MarketPlace and Community Development, Temenos, said, “Our business banking clients will clearly benefit from this out-of-the-box integration with market-leading accounting packages. This brings immediate efficiencies for SME clients, but more importantly, provides the data visibility that banks need to be more proactive in identifying business needs and delivering services to help support and drive their clients’ business growth.”

According to the supplier, the partnership is expected to facilitate the provision of data sharing between business accounting and banking systems and aims to benefit its banking and SME clientele through secure customer satisfaction.

Peter Lord, CEO at Codat commented, “The financial and business data ecosystem is growing into a huge network of data sources with financial institutions and software providers becoming not just consumers, but sources of data themselves, as the need for integrations grows. Integration with accounting platforms is seen as an essential feature of commercial banking products by SMEs. By offering Codat’s capability on Temenos MarketPlace, Temenos is helping banks to be better positioned to both retain and attract new customers.”

Temenos will utilise Codat’s integration solutions for improving its Business Banking offering and enable customers to access data from SME accounting packages for the delivery of accurate information and relevant banking services for SME clients.

Steve Scott, Senior Product Manager – Business and Corporate Banking at Temenos added, “Codat is a great complement to our Business Banking solution. Our research has shown that SME’s expect their banks to understand them better and provide timely and specific advice. By integrating with their customers accounting software, our clients will deepen their relationships with SME’s through greater insight into their business activities.”

Related Posts