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Temenos brings innovative payments capabilities to IBM Cloud to help banks transform

By Prakash Pattni posted Fri September 22, 2023 11:17 AM


The payments ecosystem is at an inflection point for transformation, and we believe now is the time for change. As banks look to modernize their payments journeys, Temenos Payments Hub has become the first dedicated payments solution to deliver innovative payments capabilities on the IBM Cloud for Financial Services®—an industry-specific platform designed to accelerate financial institutions’ digital transformations with security at the forefront. This is the latest initiative in our long history together helping clients transform. With the Temenos Payments Hub now on IBM Cloud for Financial Services, the solution is available across IBM’s hybrid cloud infrastructure, running on Red Hat OpenShift with IBM Power and LinuxONE.

Temenos + IBM

With Temenos Payments Hub on IBM Cloud for Financial Services, we are continuing our longstanding collaboration with Temenos to help financial institutions around the world deploy next-generation banking technology, improve customer experience and reduce costs. Banks can combine IBM’s expertise in providing secured, cloud infrastructure with Temenos’ innovative payments solutions to modernize their payments capabilities and their integration with new payments schemes and rails. This collaboration enables the availability of Temenos’ payments solution on the public cloud and offers clients confidence that the Temenos platform can help them address their stringent regulatory requirements. With our work together, IBM and Temenos are committed to empowering banks to embrace instant payments in a hybrid cloud environment while addressing challenges in security, governance and compliance.

The IBM Cloud for Financial Services was first introduced in 2019 and aims to help reduce risk throughout the supply chain by addressing resiliency, performance, security and regulatory compliance obligations for financial institutions. The IBM Cloud® Framework for Financial Services has an industry-defined security and a streamlined compliance controls framework, built in collaboration with the IBM Financial Services Cloud Council—a 140-plus member group bringing together CIOs, CTOs, CISOs and risk experts from over 80 financial institutions to help mitigate systemic risk across the financial services industry. Only ISVs and SaaS providers that are validated to be in alignment with the Framework are eligible to deliver offerings on the IBM Cloud for Financial Services.

Temenos Payments Hub: The first payments solution on IBM Cloud for Financial Services

By meeting the requirements of the IBM Cloud Framework for Financial Services, Temenos Payments Hub has been validated to be in alignment with IBM’s Framework and is the first payments solution on IBM Cloud for Financial Services. The solution aims to enable clients to stay agile and at the forefront of innovation, helping them deliver fast, reliable and transparent payment services to their customers, without the need to build and maintain custom security and compliance controls themselves. This can also help banks to quickly take advantage of new innovations like instant payments, while also providing a secured platform to progressively modernize their payments capabilities on a single code base across Temenos’ composable banking platform.

Temenos open platform

In addition to the Temenos Payments Hub, Temenos open platform (running on Red Hat OpenShift) is available on IBM Power, LinuxONE and IBM Cloud for Financial Services to enable banks to realize the benefits of hybrid cloud. Temenos is actively working with IBM Infrastructure and IBM Consulting to support core banking modernization in a managed hybrid cloud. The combination of Temenos open platform and IBM’s hybrid cloud infrastructure aims to help accelerate banks’ digital transformation by providing enhanced security, operational efficiency and innovation. It is also designed to enable the modernization of technology stacks and coexistence with hybrid cloud platforms.

Get started

As banks strive to transform their payments journeys, IBM will continue to work with our partner communities—including Temenos—to help them modernize with resiliency, performance, security and compliance at the forefront.

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