Temenos teams with open banking platform Luxhub
Banking software firm Temenos has initiated a collaboration with Luxembourg-based Luxhub, a European open banking platform formed by four Luxembourg-based retail banks, reports Julie Muhn at Finovate.
Through the partnership, the two aim to not only help banks meet PSD2 standards but also leverage additional opportunities available via APIs.
Under PSD2, which went into effect January, European banks face new regulations that require real-time, 24×7 API support as well as scalability to deal with higher transaction volumes and queries.
Steen Jensen, MD at Temenos, says: “Temenos brings to the table the full technology capabilities and architecture that enables financial institutions to easily comply with the directive, but also take advantage of the new business models that might arise in the future due to PSD2.”
Jacques Putz, CEO of Luxhub, adds: “By collaborating with service providers like Temenos, we are bringing that PSD2 compliance straight to your core.”
Founded in 1993, Temenos’ systems serve more than 2,000 clients in over 150 countries. Temenos has a market capitalisation of more than $10.4 billion.
Luxhub comprises BCEE, BGL BNP Paribas, Banque Raiffeisen and POST Luxembourg,