Temenos Transact is a comprehensive banking platform designed to help financial institutions streamline their operations and provide better experiences to their customers. This platform offers a range of features and benefits that can help banks improve efficiency, reduce costs, and deliver more personalized services. In this blog post, we'll explore some of the key features and benefits of Temenos Transact.

Digital transformation has been a buzzword in the banking industry for several years, and for good reason. Banks and financial institutions that embrace digital transformation can unlock a range of benefits, from improved efficiency and cost savings to more personalized customer experiences and increased competitiveness.

Temenos Transact which until recently was known as T24 is one of the most popular and established core banking solutions around the world. In recent years it has undergone quite a few changes and got some nice improvements. Now it is cloud native and cloud agnostic, there is also Temenos Banking Cloud offering as well as Temenos has pretty much simplified integrations with other systems thanks to APIs and micro services. So... does Fintech needs such banking solution that always was mostly targeted towards banks?

Although this blog post is more about Temenos Banking Cloud offering vs Temenos Transact installation on-premises or in private cloud, though the same actually applies to any solution offered on Software as a Service or Platform as a Service bases vs installation in your own data centre or in private cloud.

As you may already know Temenos Transact, known also as T24 and in past GLOBUS as well, is one of the few core banking solutions where customers can do their local development to better support various business requirements and be more independent from the vendor. Until recently majority of local development was done in Infobasic, but now Temenos is pushing Java API for this.