Temenos MarketPlace gets boost with new services and leadership
The aim, says the vendor, is “to facilitate the exchange of value between banks and fintech companies”.
MarketPlace is “customer driven”, says Ben Robinson, group chief strategy director of Temenos – i.e. the vendor proactively seeks out solutions that customers request, rather than just waiting for fintechs to apply to join the MarketPlace.
Robinson is now also overseeing the MarketPlace business, alongside Aaron Phethean, director, and Duena Blomstrom, who has joined the company as head of sales.
MarketPlace, which was launched last year, is an online cloud-based store of fintech solutions that have been pre-integrated with Temenos’ products. The vendor says it counts over 100 fintech solutions today and accounts for over $5 million in revenues for the providers.
MarketPlace is open to technology providers as well as banks that have created solutions they would like to monetise.
“With the introduction of additional APIs, interfaces and data services, MarketPlace will become a full plug-and-play platform for commerce and app development,” Temenos sates.
There is a flat annual fee of $4,000 to join, plus an additional fee for product certification, and Temenos takes a 20% cut for the deals done via MarketPlace.
A “sandbox” is now available – a non-production Platform-as-a-Service (PaaS) environment – to test the products and solutions.
Robinson says there is also strive to build “strategic relationships” with incubators and accelerators around the world – to be able to spot the talent early on.
As an example, he cites Fintech Fusion – Switzerland’s first fintech accelerator – that Temenos helped to launch in 2015, and the Luxembourg House of Financial Technology (LHoFT), that Temenos has recently joined as a leadership circle partner. Robinson feels Luxembourg will play an increasingly important role in the European fintech arena post-Brexit.