Dutch banking giant ABN AMRO has gone live with Temenos Payments in Hong Kong as part of its global strategy to power real-time payments capabilities and to improve its customer experience.
With Temenos Payments’ single platform, ABN AMRO can quickly expand into and onboard new countries. The bank also expects to significantly improve straight through processing (STP) rates through advanced exception handling.
A Temenos client for over a decade now, ABN AMRO first deployed Temenos Payments in 2015 to provide a single global universal payments platform for high-value payments in corporate banking in some countries where they were present.
Temenos Payments, which has already been rolled out in Germany, the UK, Belgium, Australia and now in Hong Kong, offers ABN AMRO a future-proof growth and enables the company to deliver seamless payments experience to its customers with faster time to market.
The Dutch bank has been running Temenos’ other platforms, such as T24 Transact and WealthSuite, to transform its corporate and private banking activities.
ABN AMRO International Core Banking Payments product owner Alex Room said: “We are delighted to continue this long-standing partnership with Temenos as together we take our international payments strategy to new markets and geographies. We experienced yet another smooth go-live, working closely with the teams on both sides.
“Running the Temenos Payments platform across our international locations, we can harmonize our IT infrastructure. Temenos Payments plays a vital role in future-proofing our international payments strategy in a market where continuously evolving regulatory demands and rapid technological advancements demand agility and continuous innovation.”
The strategic relationship between ABN AMRO and Temenos is part of the bank’s international IT strategy to maximise re-use and to drive simplicity. The strategy seeks to incorporate one Operating Model, Application Landscape, Code Base and Technical implementation for international branches supporting multiple business lines.
ABN AMRO plans to go live with Temenos Payments in Singapore and China
As part of the global initiative, ABN AMRO plans to go live with Temenos Payments in Singapore and China ahead of the SWIFT ISO20022 payments deadline in November 2021, the bank said.
Temenos Europe managing director Steen Jensen said: “We are excited to support ABN AMRO as it expands its reach across regions and fulfills its vision to transform payments and customer experience at a global scale. Our mission is to provide banks with the richest, packaged functionality and the most advanced cloud-native, cloud-agnostic software that helps banks continuously innovate and underpins radical growth.
“ABN AMRO has a single, state-of-the-art payments platform and benefits from economies of scale and improved STP rates. With our advanced technology, we enable the bank to stay at the forefront of payments product innovations and deliver outstanding digital experiences to its customers.”
According to Temenos, its payments solution is cloud-native and cloud-agnostic, enabling complete centralisation of all payment processing for banks. It is ISO20022-ready and fully configuration-driven, providing business agility and flexibility to process payments from any channel, source and message or file format in real-time.
