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Payments General

Temenos, Credorax team up to deploy core banking platform in the cloud

Thursday 31 January 2019 | 08:30 AM CET

Temenos, a banking software company, has teamed up Credorax, a global smart acquiring banking company, to deploy Temenos T24 Transact in the cloud.

Temenos’ digital banking platform in the cloud will enable Credorax to expand into new market segments, and accelerate time-to-market for its offerings, for enterprises and small businesses, beyond merchant acquiring, into cross-border payments and banking services.

Credorax has created a fully API-centric, technology ecosystem with the Temenos open banking platform running on Microsoft Azure. According to the official press release, Temenos was the first banking software provider to launch a cloud offering running on Microsoft Azure and since 2011, T24 Transact has been available as a managed service on the Temenos Cloud.

Credorax is a fully-fledged European commercial licensed bank via the Malta Financial Services Authority, and offers fraud detection and local processing.

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