Temenos Transact

Temenos Transact

Cloud-based core banking software for the finance industry

About Temenos Transact

Temenos Transact is a cloud-based and on-premise core banking software, which enables corporate, retail, or private banks and credit unions to create and deploy financial products, securely process transactions, and manage accounts and deposits on a centralized platform. Features include data visualization, user management, secure login, and credit checks.

Built on a microservice architecture, the application helps banks manage business processes associated with customer onboarding, product origination, and task assignments. With Temenos Transact’s embedded analytics module, managers can determine customer engagement strategies and promote profitable products using various financial models including fund transfer pricing and activity-based costing. Small banks can process loans by utilizing the platform's collateral management and secured and unsecured lending capabilities.

Temenos Transact offers API-based integration with various fintech platforms such as Apiax, Callsign, Circit, Edgelab, essDOCS, Iovation, Plaid, and more. The AI-powered application enables banking professionals to capture, authorize, and submit both international and domestic payments, suggest optimal routes of money flow, and offer personalized payment services to clients at the account level.


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Temenos Transact

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Pricing Options

Free version
Free trial
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Features

26
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Integrations

3
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Ease of Use

4,5 (46)
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Value for Money

4,3 (46)
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Customer Service

4,2 (46)
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Reviews

Overall rating

4,5 /5
(46)
Value for Money
4,3/5
Features
4,5/5
Ease of Use
4,5/5
Customer Support
4,2/5

Already have Temenos Transact?

Software buyers need your help! Product reviews help the rest of us make great decisions.

Showing 5 reviews of 46
Hasan
Hasan
Overall rating
  • Industry: Banking
  • Company size: 1 001–5 000 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 9.0 /10

Temenos T24

Reviewed on 2021/06/15

It's been 4 years that I am using this software and I have found it really useful in many aspects....

It's been 4 years that I am using this software and I have found it really useful in many aspects. It has made the banking solutions much easier. For example, AA module which is a component based Architecture enabled us to handle multiple products like Lending, Securities and Retail.

Pros

The most useful feature of this product is that it provides a very secure, reliable and convenient experience in terms of all financial transactions. Without any doubt, Temenos is the world's best banking software. It is easy to learn. Although, integration with old legacy systems is quite difficult but not impossible.

Cons

System should be extra intelligent for detecting errors while compilation of routines. Sometimes it gets tricky to find a simple error that system should has to trace itself. Deployment is bit difficult with old banking systems.

Tsige Bayray
Overall rating
  • Industry: Banking
  • Company size: 1 001–5 000 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Ease of Use
  • Likelihood to recommend 10.0 /10

Temenos Review from Dedebt Microfinance

Reviewed on 2023/04/19

Microfinance loan and saving products are solved by the system.

Microfinance loan and saving products are solved by the system.

Pros

As microfinance institution the group lending management is very effective for our purpose beyond the bank overall activities.

Cons

Expensive specially for microfinance institutions.

Alternatives Considered

Oracle FLEXCUBE

Reasons for Switching to Temenos Transact

Because of handling microfinance activities are in the Temenos Transact is better than the Flexcube. And the cost of the system is based on the user rather in account base.
Sothol
Overall rating
  • Industry: Banking
  • Company size: 51–200 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

The Best CORE Banking

Reviewed on 2024/02/22

Helpful system with powerful feature that enable user to the business need.

Helpful system with powerful feature that enable user to the business need.

Pros

It is customizable base on need and Manageable. The features got new R&D update base on latest trend technology.

Cons

Pricing is very expensive compare to investment budget.

Miroslav
Overall rating
  • Industry: Banking
  • Company size: 1 001–5 000 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 1.0 /10

transact review

Reviewed on 2024/04/02

I am satified user of temenos product for almost 20 years

I am satified user of temenos product for almost 20 years

Pros

overall functional capabilities, product improvements

Cons

temenos customer suport, quality of fixes/patches

KING
Overall rating
  • Industry: Banking
  • Company size: 1 001–5 000 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 9.0 /10

Temenos Transact Review

Reviewed on 2024/02/07

Temenos Transact provides APIs flexibility for other applications to connect to and transact as...

Temenos Transact provides APIs flexibility for other applications to connect to and transact as well as customization with local development to suite business customers dynamic needs.

Pros

APIs connectivity flexibility and local customization development available for customer needs

Cons

One will need to have a more resourceful hardware resources to continually be happy with Temenos Transact services and applications

Showing 5 reviews of 46 Read all reviews

Temenos Transact FAQs

Below are some frequently asked questions for Temenos Transact.

Temenos Transact offers the following pricing plans:

  • Free Trial: Not Available

Contact Temenos Group for pricing details.

Temenos Transact has the following typical customers:

2–10, 11–50, 51–200, 201–500, 501–1 000, 1 001–5 000

We do not have any information about what languages Temenos Transact supports

Temenos Transact supports the following devices:

Temenos Transact integrates with the following applications:

Microsoft Power BI, Plaid, Tableau

Temenos Transact offers the following support options:

Email/Help Desk, FAQs/Forum, Knowledge Base, Phone Support, 24/7 (Live rep)

Related categories

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