SIBOS – Temenos (SIX: TEMN) today announced that Libra Internet Bank, one of the most innovative banks in Romania, has selected Temenos to modernize its payments capabilities using Temenos Payments to facilitate ISO 20022 cross-border payments and reporting (Swift CBPR+) on the Swift network. Libra will leverage Temenos’ composable, scalable platform to add other payment rails in future, bringing them together in a single, efficient platform. This will support the bank’s growth plans to double payments volumes over the next five years.
Libra Internet Bank has a reputation for innovation, having launched the country’s first 100% online accounts and loans. It is one of the market leaders for partnerships with financial institutions and fintechs in the European Union, giving organizations such as Revolut, Raiffeisen Digital Bank AG, and Wise access to the Romanian market via Libra’s API Banking infrastructure and services.
Libra Internet Bank is already using Temenos for core banking and adding Temenos Payments will allow the bank to simplify and standardize its payments operations on a flexible, efficient platform, increasing Straight Through Processing (STP) rates and enhancing customer servicing.
The platform will support the new ISO20022 based cross-border payment and reporting standards, expanding data transparency and payment tracking services. The solution’s intelligent payments routing and advanced exception handling will improve efficiency and customer experience. Temenos’ comprehensive suite of pre-built APIs allows easy integration with Libra’s existing payments infrastructure and third-party fintech providers. Libra Internet Bank will also be able to improve its sanctions screening processes, for which it uses Temenos Financial Crime Mitigation solution, by standardizing on robust, scalable integration points with Temenos Payments.
Temenos offers a single platform across all banking verticals and business segments, including payments and core banking, and as a result Libra will benefit from higher investment in R&D. With Temenos, the bank will be able to progressively replace its payments legacy systems and accelerate time to value.
Cristina Mahika-Voiconi, General Manager, Libra Internet Bank, commented: “Using the latest technology to improve the products and services that we offer to our customers is one of our core values at Libra Internet Bank. Temenos has enabled us to modernize our operations and remain at the cutting edge of innovation in the Romanian banking sector. Temenos Payments will build on this success by allowing us to improve more quickly in the payments space, bringing faster, more reliable cross-border payments services to our customers and fintech partners.”
Jean-Paul Mergeai, President EMEA-APAC, Temenos, said: “We’re delighted to expand on our long-running relationship with Libra Internet Bank, one of the leading banks for fintech integration in Romania. With Temenos Payments the bank will have a modern payments platform enabling it to scale quickly and propel its growth plans. Following on from a number of recent wins for SEPA Instant processing in Europe, our certification for the FedNow program in the US, and our recent deal with leading global payments provider Convera, this is further evidence of our momentum in the payments space, where we see tremendous growth opportunities. We continue to invest heavily in our single code base across core banking and payments, making our solution the most compelling integrated offering in the market.”
Temenos support clients across the world, for different payment rails like SWIFT, RTGS, ACH and instant payments including both ISO 20022 and non-ISO 20022 schemes. Temenos Payment simplifies payments operations and offers different deployment options: on premise, available on all major public cloud providers for banks to run themselves or as a SaaS solution. It helps banks gain greater efficiency and lower costs. Temenos Payments can scale massively handling all payment types and schemes. Temenos was recently ranked the #1 best-selling payments system in the global IBS Sales League Table for the fifth year in a row.
Accura Scan, The Only Certified Biometric Solution Provider in Middle East & Africa for Banks and Telcos
Global Identity Verification and Digital KYC solutions provider, Accura Scan is pleased to announce being awarded ISO/IEC 30107-03 compliance after passing a presentation attack detection (PAD) iBeta Level 2 audit with 0% FAR, making it one of the few companies worldwide and the only in India, Singapore, APAC & Middle East to have such a recognition.
As part of the testing procedure to assess the performance of Accura Scan face biometric liveness system, which is already being used by clients globally, it was successfully tested with millions of data points in alpha & beta testing modes. Its algorithms were pitted against various forms of spoofing attempts, including but not limited to 3D-printed and curved masks, silicone and paper masks, and videos of real subjects.
Yasin Patel (YP), Accura Scan’s CEO & Founder, expressed great pride in the achievement, adding, “Obtaining the ISO 30107-03 standard after passing the rigorous iBeta level 2 test demonstrates the effectiveness of our solutions against spoofing attacks.” He further announced that in keeping with their motto of ‘Biometrics for All’, Accura Scan would be offering its trusted Identity Verification Suite for free to all start-ups, while established entities would be offered various modules for as little as USD 5,000 a year onwards.
Commenting on this feat, Director – International Sales, Reza Writer, added, “Ambition greater than resources is in the DNA of Accura Scan. We have achieved this feat with a very small but highly skilled & dedicated team that has executed the organizational goal beautifully.”
The ISO 30107-3 framework measures a biometric system’s false acceptance rate (FAR) and false rejection rate (FRR) at the point of presentation. Passing the evaluation with an FAR of 0%, means that the company’s biometric algorithms offer a high level of spoof resistance in all environments.
Headquartered in India, Accura Scan has been completely bootstrapped & profitable since its incorporation. It has firmly established itself in the MENA region over the last 4 years, working with some of the most esteemed Banks, Telecoms & Fintechs globally. As a part of its global strategy, it has now registered itself in Singapore, the EU, the UK, & the US. With top-notch Identity Verification & Digital KYC products, it is confident of making a mark in these markets.
BIM Exchange integrates traditional currency option for buying and selling cryptocurrencies
BIM Exchange revolutionizes the purchase of crypto-currencies: implicity and security guaranteed
BIM Exchange, the French pioneer of crypto-currency exchange platforms, today announces a major breakthrough in the ease of access and security of crypto transactions. With its new feature, it has never been easier to buy and trade crypto-currencies, bridging the gap between the traditional Web and Web 3.0.
Integration of payments in tradtional currencies: Euro, Dollar, Pound Sterling and Swiss Franc
BIM Exchange now enables its users to buy crypto-currencies directly by bank transfer in less than 24 hours, regardless of their currency. The funds are then securely transferred to the user’s decentralized wallet, such as Ledger, TrustWallet, MetaMask or other.
This method considerably simplifies access to digital currencies, while guaranteeing maximum security.
Monzo founder talks Prosper. Company sees incredible demand for its Crowdfund, smashing 130% of its target, raising over £785,000.
Having recently announced its crowdfund was open to the public and with a little more than a week to go, Prosper today confirmed it has hit 130% of its funding target, raising over £785,000.
The company is backed by some of the biggest names in fintech. One of those, Tom Blomfield, the founder and former CEO of digital bank Monzo, said:
“The crowdfunding community was vital to Monzo’s growth and helped us engage with our early users. Like Monzo, Prosper is a customer champion brand shaking up the wealth industry. As I invested in Prosper, it became clear that speaking to the community would also play a part in their journey. It’s only the beginning, but I’m excited to help more people prosper!”
Monzo’s first crowdfunding campaign raised just under £1m at a £30m valuation. Today, that valuation stands at “around £4 billion”, according to Sky News. With a week of its own crowdfund still to go, Prosper hopes to build on that success, already closing in on Monzo’s original raise achievement.
“We’ve been blown away by the demand we’ve seen from our community. It’s a testament to the value we can create building a customer-championing business in the world of saving and investing,” said founder and CEO Nick Perrett.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more.
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