Temenos Transact

4.5
Overall rating
Reviews

4.5
Overall rating
Reviews

About Temenos Transact

Temenos Transact is a cloud-based core banking solution, which helps organizations across retail, finance, corporate and various other banking sectors launch products while optimizing the operational costs. The application enables professionals to manage the entire product lifecycle and cross-sell them to new or existing customers. Banks can create personalized reward schemes or offers at the individual or household level. Temenos Transact also enables banks to bundle various products according to different customer segments using interest compensation schemes and offset credit products.
Temenos Transact Software - Image not available

Temenos Transact pricing

Temenos Transact does not have a free version and does not offer a free trial.

Starting Price:
Not provided by vendor
Free Version:
No
Free trial:
No

Alternatives to Temenos Transact

Rebank

0
Rebank provides a single source of truth for all financial activity that works on top of a company's existing banks....

Temenos Transact Reviews

Feature rating

Value for Money
4.3
Functionality
4.5
Ease of Use
4.4
Customer Support
4.1
5 reviews of 48 View all reviews
Hasan
Hasan
  • Industry: Banking
  • Company size: 1,001–5,000 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
4
Features
4
Ease of Use
4
Customer Support
5

5
Reviewed on 15/06/2021

Temenos T24

It's been 4 years that I am using this software and I have found it really useful in many aspects. It has made the banking solutions much easier. For example, AA module which is a component based Architecture enabled us to handle multiple products like Lending, Securities and Retail.

Pros

The most useful feature of this product is that it provides a very secure, reliable and convenient experience in terms of all financial transactions. Without any doubt, Temenos is the world's best banking software. It is easy to learn. Although, integration with old legacy systems is quite difficult but not impossible.

Cons

System should be extra intelligent for detecting errors while compilation of routines. Sometimes it gets tricky to find a simple error that system should has to trace itself. Deployment is bit difficult with old banking systems.

Jop
  • Industry: Banking
  • Company size: 5,001–10,000 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
4
Features
4
Ease of Use
4
Customer Support
3

4
Reviewed on 22/02/2024

Flexible product when implemented right !

Overall, Transact (which I know since it was called Globus and t24) is a mature product and most of the functionality is stable. I know banks which have been running the product for > 25 years and who benefit from periodical upgrades.
Implementing the product is a great experience if it is a greenfield project and if the implementation team is selectively hand picked.

Pros

- The wide range of financial products and services supported
- The ease of integration with other products (market data, order management platforms etc)
- The ease of bank specific customisation / localisation

Cons

- Some business support functions have not evolved to well in line with market changes; e.g. Swift MX/ISO20022 is very late.
- The

Miroslav
  • Industry: Banking
  • Company size: 1,001–5,000 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
3
Features
4
Ease of Use
3
Customer Support
2

1
Reviewed on 2/04/2024

transact review

I am satified user of temenos product for almost 20 years

Pros

overall functional capabilities, product improvements

Cons

temenos customer suport, quality of fixes/patches

Tsige Bayray
  • Industry: Banking
  • Company size: 1,001–5,000 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
0
Features
5
Ease of Use
5
Customer Support
0

5
Reviewed on 19/04/2023

Temenos Review from Dedebt Microfinance

Microfinance loan and saving products are solved by the system.

Pros

As microfinance institution the group lending management is very effective for our purpose beyond the bank overall activities.

Cons

Expensive specially for microfinance institutions.

Alternatives Considered

Oracle FLEXCUBE

Reasons for Switching to Temenos Transact

Because of handling microfinance activities are in the Temenos Transact is better than the Flexcube. And the cost of the system is based on the user rather in account base.
Matthias
Matthias
  • Industry: Information Technology & Services
  • Company size: 51–200 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
5

5
Reviewed on 28/09/2022

The best Core Banking Software out there.

I have used it as an end user, as a support, admin, as well as customized it to an extent. It is flexible and feature-rich core banking software. No wonder why its chosen by most of the leading banks around the globe.

Pros

Easy to use
Rich functionalities
Secure
Robust
Great Support
Tailored to country model banks

Cons

A bit expensive but considering the range of functionalities that it provides, it is understandable.

Alternatives Considered

Oracle FLEXCUBE

Reasons for Switching to Temenos Transact

Security, Robustness, Ease of Use, Support, Wide range of functionalities ...

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