Temenos rolls out new data platform for core banking

By Megha Bhattacharya

Temenos today announced the launch of Temenos Transact Data. The new data platform is integrated and embedded within the company’s core banking solution, Transact. The platform is expected to deliver multiple essential data capabilities including real-time data streaming, data engineering, purpose-built data stores, and over 175 banking APIs, providing banks with quality data to power contextual customer experiences, accurate reporting and analytics, integration with internal data systems, and innovation with AI-driven digital banking applications.

Todd Winship, Product Director, Temenos, said, “Temenos Transact Data Hub provides the best-embedded data platform in the industry. By combining Temenos’ 25 years of innovation, building world-class packaged banking software with the latest advancements in big data and analytics; we provide banks the foundational technologies to help them realize the power of data, analytics, and AI to transform their business and make banking better for customers. With Temenos Transact Data Hub, banks have the data at their fingertips to anticipate customer need and deliver personalized experiences and relevant content for customers in the channel they want at the time they want it.”

Temenos Transact Data Hub supports deployment on cloud platforms and uses popular database platforms including Azure SQL, SQL Server, Postgres, Oracle, NuoDB, and others. It is also available via SaaS from the Temenos Cloud and can be deployed remotely in around 30 days.

Craig Focardi, Senior Analyst, Celent, added, “Data hubs aim to solve data/analytics transformation goals while banks are upgrading core systems to leverage in-house data stores. Embedding a data platform within a core system and IT stack can be an effective solution for banks to optimize the value of their data asset while undertaking other major digital transformation projects. Temenos is one of the largest banking technology and services providers globally, and is well-positioned to assist financial institutions with these data management issues.”