Temenos - Experts & Thought Leaders

HID, a worldwide pioneer in trusted identity solutions, in partnership with Temenos, a global provider of banking software solutions, announces a successful collaboration with Santander International to provide robust and flexible customer authentication for its digital banking platform. Santander International, like all modern financial institutions, faces unique challenges in its digital transformation journey. Navigating cybersecurity threats, adhering to regulations, working within budget constraints, and delivering exceptional user experiences while staying ahead of cybercriminals are just some of these complexities. Mobile banking application Santander International's secure transition from web banking to a mobile-centric experience HID's involvement began when Santander International selected Temenos for its digital banking platform. Recognising the need for strong authentication, HID was brought on board to help secure the platform's digital channels. To support Santander International's secure transition from web banking to a mobile-centric experience, HID recommended its mobile client SDK, HID Approve, which can be fully integrated into any mobile banking application. The mobile SDK supports log-in and transaction signing for a smooth, secure authentication experience. Security certification procedures "HID understands the diverse needs of banks," explains Caleb Wattles, Senior Product Manager in the Identity and Access Management division at HID. "Our goal is to empower them with the tools they need to protect both their customers and their reputation. We are committed to meeting banks wherever they are in their journey, and we look forward to continuing our support for Santander International as they continue their digital transformation." This includes automatic key rotation capabilities built into the mobile authentication solution HID uses various methods to ensure the technology itself is also robust. This includes automatic key rotation capabilities built into the mobile authentication solution, runtime application self-protection, and finally subjecting the tech to rigorous security certification procedures. There are more than 70 configurable security policies, providing a more granular control to empower banks such as Santander to tailor the security posture and user experience to their specific requirements. It's a win-win for them and their clients. HID's ability "Santander International's journey is particularly interesting," Wattles adds. "They initially implemented our off-the-shelf mobile authenticator client before ultimately embedding the technology stack directly into their application." "This demonstrates HID's ability to cater to each customer's unique needs and support them throughout their digital transformation journey." 

HID Global, a pioneer in trusted identity solutions, announces that it has collaborated with Temenos, the banking software company, to expand the features of HID’s multi-factor authentication solution that are seamlessly available to Temenos Infinity users through the Temenos MarketPlace. HID’s risk-based authentication solution is pre-integrated with Temenos Infinity, the digital front office product. Temenos is used in over 3,000 financial institutions and supports the digital transformation of banks worldwide, serving customers who increasingly want a mobile and online transaction experience. Risk-based authentication solution “HID is committed to helping Temenos customers meet today’s extraordinary demand for safe and secure access to mobile and online banking services as a result of the current global health crisis,” said Brad Jarvis, Vice President and Managing Director of the Identity & Access Management Solutions with HID Global. HID’s offering supports the Temenos Infinity capabilities through its HID ActivID® Authentication Platform “We are ensuring that Temenos Infinity users can benefit from the broadest range of capabilities in our risk-based authentication solution, from onboarding and transaction signing through self-service and management.” HID’s offering supports the latest Temenos Infinity capabilities through its HID ActivID® Authentication Platform featuring the HID Risk Management Solution with real-time risk profiling technology. Enhancing digital identity Temenos Infinity users now benefit from the following HID multi-factor authentication features as they serve their customers through digital channels: Wide range of options for authentication and onboarding, including static passwords, multiple types of One Time Passwords (OTPs) and FIDO hardware authenticators, and mobile push notification leveraging public key. Pre-integrated HID Identity Verification Service capabilities that simplify and enhance digital identity self-service and management while increasing administrative visibility. “As the leader in banking software, we know that the need for modern digital banking in this ‘New Normal’ will be greater than ever,” said James Holland, Director of Product Security with Temenos. “Temenos is helping banks support today’s surge in digital banking volumes while also ensuring that these interactions are secure at every point, including the consumer’s device where they are initiated. We welcome these new capabilities from HID Global.”

Temenos, the banking software company, has announced a joint effort with Microsoft to enable access to its AI-powered, Financial Crime Mitigation (FCM) SaaS solution to allow banks to protect both their customers and their organisation from financial crime increase during the ongoing COVID-19 pandemic, particularly as banks have moved to remote working to protect their staff. AI-powered security solution Temenos AI-powered, Financial Crime Mitigation SaaS solution based on Microsoft’s fast, scalable and secure Azure cloud platform can be deployed within weeks. Temenos and Microsoft are opening up access to banks for a 14-day trial, available until 30 of June. As part of the collaboration with Microsoft, Temenos is offering system access and online tutorials for users to familiarise themselves with navigation of the system and learn how it can support them in a revised operating landscape. Financial Crime Mitigation SaaS solution Temenos FCM provides enterprise-wide financial crime protection for a highly regulated and fast-changing environment Temenos is slated to exhibit the open access initiative of its FCM software at its event, Temenos Community Forum, slated to take place from Oct 20th to Oct 22nd, 2020 at the Dublin Convention Centre in Dublin, Ireland. Temenos FCM provides enterprise-wide financial crime protection for a highly regulated and fast-changing environment. It allows banks’ operators to respond to alerts and collaborate with team members while working remotely. Banking and financial security Throughout the Covid-19 crisis, Temenos customers from Tier 1 banks to regional banks and neobanks have continued to benefit from Temenos FCM’s comprehensive coverage regardless of the fact that their teams are working remotely. Financial regulators worldwide and organisations such as the European Central Bank are warning that the Covid-19 pandemic may result in an increase in financial crime and other misconduct due to market disruptions, reduced staff, and other factors, as has been the case during past global crises. Countering money laundering and terrorism financing Opportunistic fraudsters and criminals are adapting their methods of targeting people and countries in distress as new threat vectors open up. The Financial Actions Task Force (FATF), the global standard setter for combating money laundering and terrorism financing, warns businesses to remain vigilant for emerging money laundering and terrorist financing risks as criminals may seek to exploit gaps and weaknesses in Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) systems under the assumption that resources are focused elsewhere. Cloud-native, AI-based technology We are proud to be able to offer our cloud-native and AI technology to support banks in the fight against financial crime" Fraudsters have already been very quick to adapt well-known fraud schemes to target individual citizens, businesses and public organisations. These include various types of adapted versions of telephone fraud schemes, supply scams and decontamination scams. Jean-Michel Hilsenkopf, Chief Operating Officer, Temenos, said, “We are proud to be able to offer our cloud-native and AI technology to support banks in the fight against financial crime, which has increased as a result of the pandemic.” Temenos Financial Crime Mitigation solution He adds, “As a strategic global banking software partner of Microsoft, we are pleased to join efforts to deliver Temenos Financial Crime Mitigation as SaaS on Microsoft Azure’s resilient, secure and proven cloud platform.” Jean Michel further stated, “We are committed to providing robust and up-to-date sanction screening, AML, KYC and fraud management protection combined with powerful AI-driven transaction monitoring and sanction screening to help banks worldwide.” Combating financial crime Marianne Janik, Country General Manager, Microsoft Switzerland, said “We have been pioneering with Temenos in the cloud for a decade. We are proud to join forces to help banks use the power of Temenos’ market-renowned Financial Crime Mitigation solution based on our secure, scalable and resilient global Azure cloud platform to combat financial crime surge due to Covid-19.” More than 200 banks use Temenos FCM SaaS solution, which covers watch-list screening, anti-money laundering, fraud prevention - suspicious activity prevention - and KYC, delivering industry-high levels of detection and false positives of under 2% versus industry average of 7% and above. Integration with Temenos Transact and Infinity platforms Temenos FCM can be deployed as a standalone, or integrated to any banking or payments platform including cloud-native, cloud-agnostic Temenos Transact and Temenos Infinity. It provides unrivalled levels of detection and resilience against financial crime and Total Cost of Ownership (TCO) savings of more than 50%. Temenos FCM provides banks with the next generation of AI-driven FCM capabilities that can run on any public cloud, as a service or on premise.