Finance Incorporated Limited ( FIL ) has partnered with Temenos in an aim to modernise its digital and core banking capabilities. As per the official press release, FIL is set to implement Temenos’ end-to-end retail banking solution to improve back-office efficiency, speed up transaction processing, and launch new payments and other financial products faster and at lower cost.

With Temenos, FIL aims to scale the business and elevate the customer experience to achieve 5x growth over the next five years. FIL deploys a range of products and services aimed at individual, corporate, and institutional clients. With iPaymix, an ewallet account, customers can sign up for an account and get a Maltese IBAN in minutes, send and receive money via the EURO SEPA network and enjoy contactless payments with a debit Mastercard.

Moreover, the press release continues to state that business customers can choose Paymix Pro and get a dedicated Maltese IBAN and an online portal with multiple user access, and process EUR bulk payments towards multiple beneficiaries. FIL launched its new softPOS product in Malta and in Germany earlier in 2024, which will allow merchants to accept card payments on their smartphone through the Paymix SoftPOS app. The comapny stated the app is envisaged to be launched in other EU countries soon.

Temenos digital and core banking platform is set to enable FIL to scale these products and services sustainably, and quickly create new banking products with the aim of making payments and transactions easier and more efficient for customers. About Temenos Temenos is an open platform for composable banking, serving clients by helping them build new banking services and customer experiences. Banks using Temenos software achieve cost-income ratios almost half the industry average and returns on equity 2X the industry average.

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