Temenos - Experts & Thought Leaders

HID, a worldwide pioneer in trusted identity solutions, in partnership with Temenos, a global provider of banking software solutions, announces a successful collaboration with Santander International to provide robust and flexible customer authentication for its digital banking platform. Santander International, like all modern financial institutions, faces unique challenges in its digital transformation journey. Navigating cybersecurity threats, adhering to regulations, working within budget constraints, and delivering exceptional user experiences while staying ahead of cybercriminals are just some of these complexities. Mobile banking application Santander International's secure transition from web banking to a mobile-centric experience HID's involvement began when Santander International selected Temenos for its digital banking platform. Recognizing the need for strong authentication, HID was brought on board to help secure the platform's digital channels. To support Santander International's secure transition from web banking to a mobile-centric experience, HID recommended its mobile client SDK, HID Approve, which can be fully integrated into any mobile banking application. The mobile SDK supports log-in and transaction signing for a smooth, secure authentication experience. Security certification procedures "HID understands the diverse needs of banks," explains Caleb Wattles, Senior Product Manager in the Identity and Access Management division at HID. "Our goal is to empower them with the tools they need to protect both their customers and their reputation. We are committed to meeting banks wherever they are in their journey, and we look forward to continuing our support for Santander International as they continue their digital transformation." This includes automatic key rotation capabilities built into the mobile authentication solution HID uses various methods to ensure the technology itself is also robust. This includes automatic key rotation capabilities built into the mobile authentication solution, runtime application self-protection, and finally subjecting the tech to rigorous security certification procedures. There are more than 70 configurable security policies, providing a more granular control to empower banks such as Santander to tailor the security posture and user experience to their specific requirements. It's a win-win for them and their clients. HID's ability "Santander International's journey is particularly interesting," Wattles adds. "They initially implemented our off-the-shelf mobile authenticator client before ultimately embedding the technology stack directly into their application." "This demonstrates HID's ability to cater to each customer's unique needs and support them throughout their digital transformation journey." 

Temenos, the banking software company, has announced a joint effort with Microsoft to enable access to its AI-powered, Financial Crime Mitigation (FCM) SaaS solution to allow banks to protect both their customers and their organization from financial crime increase during the ongoing COVID-19 pandemic, particularly as banks have moved to remote working to protect their staff. AI-powered security solution Temenos AI-powered, Financial Crime Mitigation SaaS solution based on Microsoft’s fast, scalable and secure Azure cloud platform can be deployed within weeks. Temenos and Microsoft are opening up access to banks for a 14-day trial, available until 30 of June. As part of the collaboration with Microsoft, Temenos is offering system access and online tutorials for users to familiarize themselves with navigation of the system and learn how it can support them in a revized operating landscape. Financial Crime Mitigation SaaS solution Temenos FCM provides enterprise-wide financial crime protection for a highly regulated and fast-changing environment Temenos is slated to exhibit the open access initiative of its FCM software at its event, Temenos Community Forum, slated to take place from Oct 20th to Oct 22nd, 2020 at the Dublin Convention Center in Dublin, Ireland. Temenos FCM provides enterprise-wide financial crime protection for a highly regulated and fast-changing environment. It allows banks’ operators to respond to alerts and collaborate with team members while working remotely. Banking and financial security Throughout the Covid-19 crisis, Temenos customers from Tier 1 banks to regional banks and neobanks have continued to benefit from Temenos FCM’s comprehensive coverage regardless of the fact that their teams are working remotely. Financial regulators worldwide and organizations such as the European Central Bank are warning that the Covid-19 pandemic may result in an increase in financial crime and other misconduct due to market disruptions, reduced staff, and other factors, as has been the case during past global crises. Countering money laundering and terrorism financing Opportunistic fraudsters and criminals are adapting their methods of targeting people and countries in distress as new threat vectors open up. The Financial Actions Task Force (FATF), the global standard setter for combating money laundering and terrorism financing, warns businesses to remain vigilant for emerging money laundering and terrorist financing risks as criminals may seek to exploit gaps and weaknesses in Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) systems under the assumption that resources are focused elsewhere. Cloud-native, AI-based technology We are proud to be able to offer our cloud-native and AI technology to support banks in the fight against financial crime" Fraudsters have already been very quick to adapt well-known fraud schemes to target individual citizens, businesses and public organizations. These include various types of adapted versions of telephone fraud schemes, supply scams and decontamination scams. Jean-Michel Hilsenkopf, Chief Operating Officer, Temenos, said, “We are proud to be able to offer our cloud-native and AI technology to support banks in the fight against financial crime, which has increased as a result of the pandemic.” Temenos Financial Crime Mitigation solution He adds, “As a strategic global banking software partner of Microsoft, we are pleased to join efforts to deliver Temenos Financial Crime Mitigation as SaaS on Microsoft Azure’s resilient, secure and proven cloud platform.” Jean Michel further stated, “We are committed to providing robust and up-to-date sanction screening, AML, KYC and fraud management protection combined with powerful AI-driven transaction monitoring and sanction screening to help banks worldwide.” Combating financial crime Marianne Janik, Country General Manager, Microsoft Switzerland, said “We have been pioneering with Temenos in the cloud for a decade. We are proud to join forces to help banks use the power of Temenos’ market-renowned Financial Crime Mitigation solution based on our secure, scalable and resilient global Azure cloud platform to combat financial crime surge due to Covid-19.” More than 200 banks use Temenos FCM SaaS solution, which covers watch-list screening, anti-money laundering, fraud prevention - suspicious activity prevention - and KYC, delivering industry-high levels of detection and false positives of under 2% versus industry average of 7% and above. Integration with Temenos Transact and Infinity platforms Temenos FCM can be deployed as a standalone, or integrated to any banking or payments platform including cloud-native, cloud-agnostic Temenos Transact and Temenos Infinity. It provides unrivalled levels of detection and resilience against financial crime and Total Cost of Ownership (TCO) savings of more than 50%. Temenos FCM provides banks with the next generation of AI-driven FCM capabilities that can run on any public cloud, as a service or on premise.

HID Global, global provider of trusted identity solutions, has announced that it has collaborated with Temenos, the banking software company, to integrate HID’s risk-based authentication solution with Temenos Infinity, a breakthrough digital front office product, and Temenos T24 Transact, the next generation in core banking. The joint offering, available on-premise or in the cloud, provides an agile, simplified path to secure digital banking, reducing the time and cost of delivering risk-based adaptive authentication, threat detection, and transaction signing on the Temenos platform. As part of the integration, HID Global’s authentication solution can now offer self-service functions to over 3,000 Temenos customers through Temenos MarketPlace. Temenos MarketPlace Temenos MarketPlace serves as an online store, where Temenos curates the most innovative fintechs Temenos MarketPlace serves as an online store, where Temenos curates the most innovative fintechs and connects them with financial institutions from around the world. HID Global’s authentication solution for Temenos customers combines its ActivID Authentication Platform with the HID Risk Management Solution featuring real-time risk profiling technology. It also includes HID Approve, a next-generation multi-factor authentication solution for online and mobile banking customers. HID Approve combines the security of public key-based cryptography and mobile-based out-of-band transaction signatures with the convenience of mobile push notification. HID Approve public key-based cryptography solution “HID has partnered with Temenos for more than a decade to provide solutions for nearly 100 banks worldwide,” said Brad Jarvis, Vice President and Managing Director of Identity & Access Management Solutions (IAMS) with HID Global. Brad adds, “This latest collaboration streamlines banks’ ability to implement advanced user authentication services with Temenos Infinity and Temenos T24 Transact. The pre-configured integration makes it easier than ever for Temenos customers to deploy out authentication tools without any customized development.” Risk-based authentication HID Global’s three plug-and-play components for risk-based authentication are tightly integrated with Temenos Infinity and Temenos T24 Transact. They provide several key capabilities that enable existing financial institutions and new digital startups to better facilitate secure digital banking: User profiles are automatically synchronized to the multi-tenant HID Authentication service when new accounts are created in Temenos T24 Transact. Administrators manage user authentication in Temenos Infinity. The solution handles all authentication administration tasks including management of the user device and credentials, in addition to displaying user authentication events and audit logs directly within Temenos Infinity. The HID Risk Management solution enables customers to protect their financial transaction systems and banking applications using a combination of evidence-based threat detection capabilities with behavioral biometrics supported by machine learning.  Countering rapid increase in cases of financial fraud Banks need to protect their customers as well as retain them and improve trust"“As more and more customers bank through digital channels, incidents of fraud naturally increase and the ramifications to both bank and consumer can be massive,” said Adam Gable, Product Director – Financial Crime Mitigation, Treasury and Risk, Temenos, adding “Banks need to protect their customers as well as retain them and improve trust. Using a combination of innovative technologies and techniques, HID’s risk-based authentication solution means customers benefit from improved security at the source of the financial transaction – the device. Adam further stated, “The solution is a great addition to the Temenos MarketPlace, pre-built to work with the cloud-native and cloud-agnostic Temenos Infinity and Temenos T24 Transact. With this integration, Temenos customers will benefit from reduced cost and complexity of integration, while gaining access to a greater variety in security options.” Multi-Tenant HID Authentication Service “We are very excited to see our long-standing relationship with HID further strengthened with the introduction of this risk-based user authentication solution,” said Paul Roberts, Director – Temenos MarketPlace. “In today’s digital banking world, this solution brings essential protection and additional peace of mind for both banks and their customers.” The multi-tenant HID Authentication Service includes interoperable Application Programming Interfaces (APIs) to allow for standard integrations with third-party software and supports easy scalability, testing and deployment.