UK-based deep tech and banking company Tintra has partnered with Temenos to develop a new bank designed for emerging market clients, according to FF News . Tintra will be utilising Temenos’ core banking platform, payments, and Financial Crime Mitigation solution.

Tintra aims to create fiscal inclusion in trade and finance across the emerging world through a strategic network of full bank licences on four continents, using advanced artificial intelligence, machine learning, and Web 3. 0 technologies, the official press release states. Tintra has developed patented end-to-end AI technology that reportedly optimises payment processes and compliance between emerging and developed markets, thus mitigating human intervention in Know Your Customer and Anti Money Laundering.

The company's technological innovations will be connected via APIs with Temenos’ open platform to provide a single, end-to-end solution for onboarding, transaction management, monitoring, and forex services. Temenos’ low-code integration and APIs will allow Tintra to customise its banking services to meet the unique needs of its customers and quickly adapt to changing market conditions, according to the press release. Temenos’ regional functionality and packaged country model bank framework will reportedly enable Tintra to comply with local regulations and business practices at a lower cost.

Tintra is in discussions with regulators globally, and has secured a Fintech Services Licence to operate in the Qatar Financial Centre (QFC) and Payment Intermediary Service Licence in Mauritius. The company is also applying for regulatory licences from the UK, Puerto Rico, and Singapore, with a new African option currently being investigated. The Founder of Tintra expressed delight at the partnership with Temenos, a reportedly trusted core banking platform.

He added that by building their borderless banking infrastructure on top of Temenos, Tintra will benefit from the platform’s extensive global experience and the regional functionality of its country specific model banks, enabling the company to go-live faster and focus investment on bringing their revolutionary AML/KYC solution to market, according to the press release. The Managing Director for Europe at Temenos expresses gratitude in being selected by Tintra for their banking platform. Temenos is known for being used by banks and fintechs of various sizes, including incumbents and challengers.

Temenos has been collaborating with Tintra to help develop their strategy and offerings and will continue to provide support as the company expands, the official press release concludes. .