Temenos and Hamilton Reserve Bank complete digital transformation

By Joy Dumasia

Temenos, the banking software company, announced that Hamilton Reserve Bank, a leading global bank with a worldwide presence, has completed its end-to-end transformation. The unmatched breadth of Temenos’ front-to-back banking technology will help the Bank provide its customers across 150 countries with secure same-day worldwide payments and instant customer account access 24/7.

Temenos, pre-integrated with Temenos MarketPlace provider authID.ai Hamilton Reserve Bank anticipates significant growth of its deposit base and wealth management services. The tight integration provides secure, accurate, and frictionless customer authentication experiences that allow automated customer e-onboarding within minutes while meeting the bank’s rigorous regulatory compliance requirements. 

The AI-powered FCM embedded across the technology platform, the bank benefits from the industry’s lowest levels of false positives at 2.5%. The bank completely scans all SWIFT transactions in real-time, screens watchlists, and leverages AI-based technology for suspicious activity prevention without detracting from a satisfactory customer experience. 

The bank has implemented Temenos Transact, the next generation in core banking, and Temenos Payments to enable real-time transactions and cross-border payments are leveraging Temenos’ cloud-native platform, which provides Straight-Through Processing (STP) rates of over 99%. Hamilton Reserve Bank also fully installed Temenos Financial Crime Mitigation (FCM) and Temenos Infinity to deliver a seamless, simple, transparent, compliant, and secure experience to its customers. 

Enrique Ramos O’Reilly, Managing Director, Latin America and the Caribbean, Temenos, said: “Hamilton Reserve Bank and Temenos share a similar philosophy: Customer first. We are delighted to be a part of the bank’s outstanding growth journey, helping deliver efficiency, security, and a satisfactory customer experience. With the advanced Temenos technology, Hamilton Reserve Bank will be able to cost-effectively deepen its key strength in delivering fast payments and managing largely increased volumes. Temenos looks forward to being a part of Hamilton Reserve Bank’s continuing success for many years to come.” 

Recently, IBS Intelligence reported that Temenos, the banking software company, announced that Australia’s newest digital bank, Alex, has gone live on The Temenos Banking Cloud.