- Temenos ‘bekroonde SaaS Financial Crime Mitigation op het Azure-cloudplatform van Microsoft biedt uitgebreide bescherming tegen financiële criminaliteit, van het witwassen van geld tot het screenen van sancties en fraudebeheer, en helpt banken de opkomst van cybercriminaliteit als gevolg van Covid-19 te bestrijden
- Temenos helpt banken, variërend van wereldwijde Tier 1’s tot regionale en neobanken, met zijn AI-gestuurde SaaS-oplossing voor fraudebeheer die naadloos kan werken terwijl het personeel van banken op afstand is
GENÈVE, Zwitserland – (BUSINESS WIRE) – Temenos (SIX: TEMN), het bankensoftwarebedrijf, heeft vandaag een gezamenlijke inspanning met Microsoft aangekondigd om toegang tot zijn AI-gestuurde, Financial Crime Mitigation (FCM) SaaS-oplossing mogelijk te maken om banken te beschermen zowel hun klanten als hun organisatie tegen financiële criminaliteit nemen toe tijdens de pandemie, vooral omdat banken zijn overgestapt op werken op afstand om hun personeel te beschermen. Temenos AI-gestuurde SaaS-oplossing voor financiële misdaadbestrijding op basis van het snelle, schaalbare en veilige Azure-cloudplatform van Microsoft kan binnen enkele weken worden geïmplementeerd.
Temenos en Microsoft stellen de toegang tot banken open voor een proefperiode van 14 dagen, die beschikbaar is tot 30 juni. Als onderdeel van de samenwerking met Microsoft biedt Temenos systeemtoegang en online tutorials voor gebruikers om vertrouwd te raken met de navigatie van het systeem en te leren hoe het hen kan ondersteunen in een herzien bedrijfslandschap. Temenos onthulde het open access-initiatief van zijn FCM-software op zijn virtuele evenement Temenos Community Forum Online, 29-30 april.
Temenos and Microsoft Partner to Offer Fast Access to AI-Driven Temenos Financial Crime Mitigation SaaS Solution to Help Banks Combat Surge in Cybercrime During Covid-19
- Temenos’ award-winning SaaS Financial Crime Mitigation on Microsoft’s Azure cloud platform delivers comprehensive financial crime protection, from anti-money laundering to sanctions screening and fraud management, helping banks fight the rise in cybercrime as a result of Covid-19
- Temenos helps banks, ranging from global Tier 1s to regionals and neobanks, with its AI-powered fraud management SaaS solution that can operate seamlessly while banks’ workforce is remote
GENEVA, Switzerland–(BUSINESS WIRE)– Temenos (SIX: TEMN), the banking software company, announced today 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 pandemic, particularly as banks have moved to remote working to protect their staff. 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 revised operating landscape. Temenos unveiled the open access initiative of its FCM software at its virtual event Temenos Community Forum Online, 29-30 April.
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. 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. 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. 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. 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. 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.”
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-leading 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-leading levels of detection and false positives of under 2% vs industry average of 7% and above. 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.
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Temenos AG (SIX: TEMN) is the world’s leader in banking software. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 500 million banking customers. Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence.
Temenos software is proven to enable its top-performing clients to achieve cost-income ratios of 26.8% half the industry average and returns on equity of 29%, three times the industry average. These clients also invest 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks’ IT investment is adding tangible value to their business.
For more information, please visit www.temenos.com.
Jessica Wolfe & Grace Collins
Temenos Global Public Relations
Tel: +1 610 232 2793 & + 44 20 7423 3969
Alistair Kellie & Andrew Adie
Newgate Communications on behalf of Temenos
Tel: +44 20 7680 6550