Temenos Transact

4.5 (48)
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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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Features

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Integrations

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Ease of Use

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Value for Money

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Customer Service

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Reviews

Overall rating

4.5 /5
(48)
Value for Money
4.3/5
Features
4.5/5
Ease of Use
4.4/5
Customer Support
4.1/5

Already have Temenos Transact?

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

Showing 5 reviews of 48
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.

Jop
Overall rating
  • Industry: Banking
  • Company size: 5,001–10,000 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

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

Flexible product when implemented right !

Reviewed on 2024/02/22

Overall, Transact (which I know since it was called Globus and t24) is a mature product and most of...

Overall, Transact (which I know since it was called Globus and t24) is a mature product and most of the functionality is stable. I know banks which have been running the product for > 25 years and who benefit from periodical upgrades.
Implementing the product is a great experience if it is a greenfield project and if the implementation team is selectively hand picked.

Pros

- The wide range of financial products and services supported
- The ease of integration with other products (market data, order management platforms etc)
- The ease of bank specific customisation / localisation

Cons

- Some business support functions have not evolved to well in line with market changes; e.g. Swift MX/ISO20022 is very late.
- The

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

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.
Matthias
Matthias
Overall rating
  • Industry: Information Technology & Services
  • 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 Software out there.

Reviewed on 2022/09/28

I have used it as an end user, as a support, admin, as well as customized it to an extent. It is...

I have used it as an end user, as a support, admin, as well as customized it to an extent. It is flexible and feature-rich core banking software. No wonder why its chosen by most of the leading banks around the globe.

Pros

Easy to use
Rich functionalities
Secure
Robust
Great Support
Tailored to country model banks

Cons

A bit expensive but considering the range of functionalities that it provides, it is understandable.

Alternatives Considered

Oracle FLEXCUBE

Reasons for Switching to Temenos Transact

Security, Robustness, Ease of Use, Support, Wide range of functionalities ...
Showing 5 reviews of 48 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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