Temenos, the banking software company, today announced that Paymentology, the banking digitization, payment and data specialist, is now live on Temenos MarketPlace. The collaboration offers Temenos banking clients a pre-integrated solution to deliver innovative card products with spend controls and enhanced features, backed by highly secure, cloud-native payment processing technology.
Paymentology is a market leader in payments processing, used by many of the most disruptive challenger banks, such as Revolut and Standard Chartered’s Mox Bank, to power their highly customer-centric card programs.
The SaaS solution provided by Paymentology empowers banks to have more control over their cardholders’ spend-cycle, allowing them to create and modify card programs in minutes, not months. It also will enable banks to offer buy-now-pay-later (BNPL) and installment services, as well as insurance, to their cardholders.
The technology provides banks with an enriched real-time data feed with access to over 120 lines of data associated with any given transaction, rather than just the 10-20 lines of data most legacy systems use, which may not even be accessible in real-time.
This capability allows banks to understand their customers’ behavior and requirements better. It also empowers banks to launch more effective card programs based on more granular, calculated, data-driven decisions. Access to enriched customer data combined with Paymentology’s flexibility enables banks to offer new service lines that transcend the traditional bank-customer relationship.
Joining the Temenos MarketPlace will significantly shorten Paymentology integration projects to existing Temenos customers, providing faster speed to market to ultimately enhance the customer experience.