Banking software specialist Temenos has announced the launch of its payment hub on Microsoft Azure.
The new payment hub is fully imbedded into a core banking platform in the cloud and can also run as a standalone payment processing engine.
The hub offers banks a single solution for processing low-value, high-value and instant payments.
The company has reported that 22% of new business took cloud services as an alternative to on-premises deals.
Darryl Proctor, product director – payments at Temenos, said: “With the addition of payments to our cloud offering, we have the most complete cloud-based portfolio available in the market.
“Our payments cloud service enables banks to transform their payments offerings at a much lower initial investment, in turn providing better value to their customers.”
Temenos has been working with Microsoft since 2011 and claimed to be the first vendor to put a core banking system in the public cloud.
Janet Lewis, vice-president of worldwide financial services at Microsoft, added: “Technology is increasingly providing financial institutions a competitive edge, and is enabling firms to deliver essential financial services to people around the world – services that can drive entrepreneurial spirit, build community and foster creativity and purpose.
“We have been working with Temenos to revolutionise the banking industry – extending their payment hub into Microsoft Azure gives them the most complete cloud-based portfolio.
“By pairing their payments offering with Microsoft Azure, Temenos will enable banks to tap into this vibrant, evolving market, while also providing banks and their customers with the assurance that comes with the security, privacy and compliance built into Azure.”
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