Following this announcement, the core banking platform of Temenos is expected to enable Lesha Bank to increase its speed to market Shari’a-compliant investment capabilities. In addition, the financial institution will be enabled to have access to modern API-driven, cloud-native technology, as well as to secure and efficient banking products from both Temenos and the Exchange ecosystem.
Lesha Bank will have the possibility to accelerate its digital initiatives as well, with the personalisation process being driven by data and artificial intelligence (AI). According to the official press release, the integration will allow Lesha Bank to leverage new functional solutions in order to reduce the number of local customisation procedures, as the bank already moved its SWIFT processing (including securities settlement to core banking) to deliver its customers improved functionality with an increase in Straight Through Processing and transaction processing time.
Banking software company, Temenos focuses on providing improved banking solutions to its partners and clients, including large and small banks, non-banks, fintechs, developers, as well as financial institutions. The firm had multiple partnerships and product launches in the last couple of months, covering several different geographic areas around the world.
In November 2023, Temenos announced its collaboration with Gprnt, the Monetary Authority of Singapore’s (MAS) new integrated digital platform. Following this strategic deal, Temenos and MAS aimed to develop new technology solutions, as well as explore data integration, and encourage an effective process of product design in order to advance sustainable finance. Temenos represented one of the first core banking software providers that worked on the Gprnt digital platform, as the tool was intended to optimise the manner in which financial institutions and collaborators balanced sheet decarbonisation, regulatory compliance demands and requirements, as well as ESG risk management.
According to the press release published at the time, Temenos integrated ESG into its operations and suite of services, aiming to provide banks with the needed technology to improve their procedure of transitioning to a low-carbon economy.
Earlier in October 2023, the payment technology provider Tribe Payments announced that its suite of products was made available on Temenos Exchange, which represented a partner ecosystem of integrated fintech services. The Tribe Core platform was expected to be integrated into the Temenos platform, which enabled clients and users to optimise and expand their card offerings and capabilities. Tribe’s modular payments technology focused on providing large banks, corporates, and fintechs with the needed solutions for the issues and challenges they faced in an ever-evolving industry.
In addition, Temenos Exchange intended to act as an accelerator for fintechs and software developers, in order to allow them to develop, validate, and monetise new banking services and tools.
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