PASPX decide on Temenos for tech transformation

Banking software company Temenos have announced a new partnership with Danish-based e-money institution PASPX.

The move will enable both Temenos Infinity, its digital front office product, and Temenos T24 Transact, its core banking platform, to the e-money’s new cloud platform.

Along with this, PASPX will also be able to access the firms Payments and Financial Crime Mitigation (FCM), to help “significantly grow its business.”

John Hejndorf Kristiansen, CEO, PASPX, commented: “As a challenger in this space, we differentiated ourselves from the incumbents by reacting quickly to market developments and addressing customer needs before our competitors.

“Temenos’ rich, packaged software combined with its cutting-edge cloud technology will enable us to have the system up and running quickly, while lowering the overall cost of deployment.”

Temenos’ software will support PASPX from client onboarding and detection of suspicious activity, to real-time processing and online transfers.

Kristiansen continued: “We are excited to be partnering with Temenos as our strategic technology provider. Temenos is providing us with the end-to-end technology stack which will help us scale and retain agility as we grow.”

Founded in 2008, PASPX is an e-money institution that provides financial services to international commerce firms and enterprises.

In the statement, Temenos said that PASPX was looking to put a “technology foundation” in place that would enable it to compete and scale as the company transitioned from its grassroots in Denmark to its Nordic vision.

Steen Jensen, Managing Director for Europe at Temenos, spoke of the companies delight at being chosen by PASPX and that this new partnership continues “demonstrating our continued momentum in the Nordics.”

Jensen said: “We are not just a software provider, but a strategic technology partner to grow our customers’ business. We provide the richest packaged end-to-end functionality, allowing banks and fintechs alike to avoid integration costs and speed up their software deployment.

“Temenos is a recognized innovator and leader, with the prowess and agility to support any kind of new challenger, and the power to propel disruptors forward as they grow. We look forward to partnering with PASPX as they set out on this journey.”