Temenos has collaborated with Mastercard to accelerate the delivery of Mastercard Move, the latter’s portfolio of money transfer capabilities, to banks and customers.
Under the agreement, Mastercard Move will integrate into Temenos Payments Hub, a cloud-based platform that manages multiple payment clearing rails and services, and several payment types and schemes through routing.
Following the integration, customers of Temenos will be able to integrate Mastercard Move’s cross-border capabilities and strengthen ties with other payments rails on the platform, enabling connections between multiple payment sources and channels with multiple clearing and distribution networks and services.
Mick Fennell, Business Line Director of Payments at Temenos, commented: “We are excited to partner with Mastercard to bring their market-leading cross-border solutions to our customers worldwide.
“By combining Mastercard Move’s capabilities with our flexible Payments Hub, integrated with our comprehensive account services, we are empowering banks to turn on a new cross-border distribution option with ease and provide their customers with seamless and secure international payment experiences.”
Mastercard Move’s solutions enable banks to move money internationally, with a range of options to route and deliver funds through the payment giant’s global network, which boasts nearly 10 billion endpoints in over 180 countries.
Roberto Tittarelli, EVP New Payments Platform Europe, said: “We are delighted to join forces with Temenos to deliver enhanced cross-border payment solutions to banks and their customers.
“With the integration of Mastercard Move’s money transfer solutions with Temenos’ payments capabilities, banks will benefit from a streamlined process to deploy, scale, and maintain ongoing interoperability for cross-border payments.
“This will in turn provide the banks’ customers with fast, secure and efficient cross-border payments, making them the ultimate beneficiaries.”
Prior to this deal, Temenos underwent a leadership shuffle in April. The banking software provider appointed Jean-Pierre Brulard as CEO, taking over from Andreas Andreades, who was at the company for 25 years.
