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Online & Mobile Banking

Temenos to boost Telia's digital banking portal

Monday 16 April 2018 | 09:38 AM CET

Temenos has announced it will work with telecommunications conglomerate Telia and will power its digital banking operations, according to Reuters.

The Switzerland-based software company revealed it secured the contract with Telia, which will now be able to offer lending and leasing products to retail and corporate customers of its financial unit.

Financial details of their agreement were not reported.

The collaboration follows the release of a Temenos report in 2017, which found that companies are willing to switch their banking and financial services providers to access better services. That includes 80% of businesses willing to switch providers to access faster and instant payment capabilities, with treasurers pointing to heightened risk management capabilities, liquidity management capabilities and cash visibility as positive effects of instant payments.

Banks, meanwhile, appear to be trying to meet higher demand for their corporate clients, the report noted. The majority of financial institutions surveyed by Temenos said they plan to introduce virtual accounts for corporate treasurers within the next 15 months.

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