Finland’s Aktia Bank goes live with Temenos Payments Hub
Aktia Bank, a wealth manager bank headquartered in Helsinki, Finland, has doubled down on its existing relationship with its core banking provider Temenos to modernise its payments infrastructure.
Aktia Bank goes live with Temenos Payments Hub
The bank first began working with Temenos six years ago, when it adopted its T24 core banking system. Now it has also chosen to implement the Temenos Payments Hub in a bid to unify its domestic and cross-border payment rails onto a single platform and create a pan-European instant payments service.
The bank says it is currently servicing more than 250,000 individual consumers and over 20,000 corporate and institutional clients with its banking, asset management and life insurance offerings.
By consolidating its core banking and payments infrastructure through one provider, the bank says it expects to benefit from integrated accounts and payment processing, and low latency execution.
This latter benefit is viewed as integral to the delivery of straight through processing (STP), which automates transactions like fund transfers and electronic payments from initiation to settlement without the need for manual intervention.
Speaking on the expansion of its “close partnership” with Temenos, Anssi Huhta, the bank’s EVP, banking business and deputy CEO, anticipates that its latest integration will result in “faster, more convenient, and user-friendly payment options”, and ultimately, “the best experience for our customers”.
Adding to this, Jean-Paul Mergeai, president EMEA-APAC of Temenos, says payments have become “a significant point of strategy” for its clients, and that as a provider, it is currently seeing “tremendous growth opportunity in payments”.
