Temenos, the banking software company, has announced that ABN AMRO has gone live with Temenos Payments in Hong Kong as part of its global strategy to rapidly rollout payments capabilities in new markets.
Temenos Payments provides a single, global platform that enables ABN AMRO to expand and onboard new countries. The bank also improves straight-through processing (STP) rates through advanced exception handling.
ABN AMRO has been a Temenos client for over a decade, running Temenos T24 Transact, Temenos Payments and WealthSuite for its corporate and private banking activities. ABN AMRO deployed Temenos Payments in 2015 to provide a single global universal payments platform for high value payments in corporate banking in some countries where they are present. The bank has already rolled out the platform in Germany, UK, Belgium, Australia and now Hong Kong.
ABN AMRO’s strategic co-development relationship with Temenos for global payments forms part of the bank’s international IT strategy designed to maximise re-use and drive simplicity. The strategy seeks to incorporate one operating model, one application landscape, one code base and one technical implementation for the international branches supporting multiple business lines. A continuation of this global initiative, the bank plans to go live with Temenos Payments in Singapore and China ahead of the SWIFT ISO 20022 payments deadline in November 2021.
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