Fintech FINCI unites with Temenos for cloud-native tech

Lithuanian fintech, FINCI, has announced a new collaboration with Temenos, to utilise the firm’s payments tech on cloud-native technology.

It will also utilise Temenos Transact core banking on the same environment, which allows FINCI users to send, manage and receive instant multi-currency payments along with possibility for further extension of intelligent financial management tools all within a single app.

Maksim Paukov, acting Chief Information Officer, FINCI Technology, commented: “Temenos has enabled FINCI to take advantage of the opportunities arising from the emergence of an open banking market. We think of FINCI as an innovative and advanced platform for your business and personal financial life. At start, FINCI will offer daily financial products such as accounts, payments, currency exchange and payment cards. 

“We develop our products fast and many great services and features, especially for business clients will be added shortly. With Temenos’ cloud-native technology we have a robust payments capability that is fast, secure and compatible with all the various payment regulations in the markets in which we will operate. The flexibility and agility of the Temenos platform will enable us to quickly create and launch financial products while continuing to innovate the customer experience that differentiates our service.”

Increasing financial efficiency following the pandemic, FINCI aims to simplify daily financial management for private individuals, entrepreneurs, freelancers, start-ups and already successfully working businesses of different industries by automating stressful and time-consuming financial and accounting tasks in a single app. 

David Macdonald, President of Europe, Temenos, added: “We are proud to celebrate the launch of FINCI. Temenos has become the de facto tech technology platform of choice for digital challenger banks and fintechs that want to launch fast and innovate rapidly. As FINCI has shown, our technology enables challengers to create hyper-efficient business models that deliver more value to their customers.

“Temenos has a strong presence in the CEE region and we look forward to supporting FINCI as it expands into new markets and leverages the agile product building capabilities of our platform to enhance its offering and bring innovative new ways to improve its customers’ financial lives.”