Romania’s Libra Internet Bank taps Temenos to modernise payments
Romania’s Libra Internet Bank has partnered up with Temenos to modernise its payments services and facilitate cross-border payments.
By utilising Temenos Payments, Libra Internet Bank aims to facilitate ISO 20022 cross-border payments and reporting (Swift CBPR+) on the Swift network. It also plans to leverage Temenos’ platform to add other payment rails in time and combine them onto one single platform, in a bid to support its growth plans and double payment volumes over the next five years.
Libra Internet Bank is an existing Temenos customer, utilising its core banking technology. With the addition of Temenos Payments, the bank looks to “simplify and standardise” its payment operations as well as improve its sanctions screening processes, for which it uses the Temenos Financial Crime Mitigation solution.
Commenting on the extended partnership, Cristina Mahika-Voiconi, general manager at Libra Internet Bank, says Temenos has helped the bank modernise its operations and remain competitive in the Romanian banking industry.
“Temenos Payments will build on this success by allowing us to improve more quickly in the payments space, bringing faster, more reliable cross-border payments services to our customers and fintech partners.”
Founded in 1996 and headquartered in Bucharest, Libra Internet Bank claims to have launched Romania’s first completely online accounts and loans. It is also a partner to several financial institutions and fintechs in the EU, helping companies such as Revolut, Wise and Raiffeisen Digital Bank gain access to the Romanian market through its API banking infrastructure.