KBC in instant payments project with Temenos

Thursday 24 May 2018 13:08 CET | News

Belgium-based banking group KBC has announced that is working with Temenos and its Temenos Payments Hub (TPH) to build instant payments functionality for its clients.

KBC is already a client of Temenos, with itsT24 core banking system running at the group’s subsidiaries in Ireland and Bulgaria, and the roll-out underway in Hungary and Slovakia. All this is part of a group-wide technology transformation at KBC. 

TPH will be rolled out across KBC’s European network of subsidiaries.

KBC is working with other participating banks in Belgium and Europe on instant payment functionalities. The go-live is planned for November 2018, in line with the European regulations around instant payments and the relevant initiatives by pan-European industry bodies.

Users of EBA’s instant payments system, RT1, will be able to access the platform via SwiftNet Instant, Swift’s instant payments messaging solution, from November 2018.

TPH is an evolution of Temenos Payments Solution (TPS), which was originally unveiled in 2012 as a joint development between Temenos and ABN Amro. The Dutch bank uses the solution for high-value, low-volume payments in the corporate banking space across a number of European locations.

Among the known takers are Ally Financial in the US, and Citco, an international group of independent financial service providers that specialises in corporate, fiduciary, financial and fund management services.

The Citco project started in 2015 and also includes the implementation of T24. The new payments hub is set to cover six countries.

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Keywords: KBC, instant payments, Temenos, core banking, Temenos Payments Hub, banking, Belgium
Countries: World