Through this move, Moneycorp is set to adopt Temenos SaaS for core banking and payments, aiming to achieve speed to market and expand its operations as it scales products and services globally. By transferring to Temenos SaaS, Moneycorp plans to focus its efforts on business growth while also benefiting from wallet and payments capabilities to provide an optimal client experience on a secure service.
Currently, Moneycorp delivers its services worldwide, having offices in Europe, North America, South America, and Asia. The company facilitates payments and foreign exchange (FX) transactions for corporates, financial institutions, and private clients. Additionally, having 63 regulatory permissions globally, Moneycorp reaches 190 countries and processes 1 million payments annually, according to its data.
Moneycorp’s development strategy
Through multi-geographic support, Moneycorp can launch additional features globally, utilising a build-once, deploy anywhere approach across several regulatory jurisdictions. Leveraging Temenos Model Bank with pre-configured banking functionality and country-specific localisation is set to allow Moneycorp to achieve efficient time to value and minimised costs and delivery risk. At the same time, Temenos’ open, API-based architecture has the potential to improve integration with Moneycorp’s ecosystem, further scaling development and operational agility.
Furthermore, commenting on the news, representatives from Moneycorp mentioned that teaming up with Temenos, and with the latter’s multi-country support and localisation, their company will be able to roll out new solutions worldwide. On the other hand, running on SaaS will facilitate efficient expansion for the company, as well as a focus on providing client-centred services.
