Enabling banks to seize advantage of scalability, security, and lower operational costs (delivered either through SaaS, on-cloud, or on-premises), Temenos T24 Transact banking software brings unparalleled real-time advantages. Maveric Systems is an awarded Temenos implementation partner.

1. Temenos T24 Core Banking Software Implementation in 2022
Next-generation digital and the world’s friendliest scalable core banking software
Temenos T24 brings the most extensive set of functionality across retail, corporate, treasury,
wealth, and payments for digital-first banks to ace their game. Legacy banking software gets a
new and agile core through its cloud-native and cloud-agnostic technology and architecture.
Enabling banks to seize advantage of scalability, security, and lower operational costs (delivered
either through SaaS, on-cloud, or on-premises), Temenos T24 Transact banking software brings
unparalleled real-time advantages. Maveric Systems is an awarded Temenos implementation
partner. Banks leverage Maveric’s deep domain expertise and renowned quality engineering
prowess to implement T24 Transact core banking software – on time and budget.

2. The Market Advantage
Temenos T24 “All in One” integrated core banking solution equips financial institutions to
manage banking operations from the back and front end and client relationship management.
Investing 20% of its revenue into R&D to continually offer functional depth and breadth, Transact
customers benefit from the only one-of-its-kind upgradability.
Additionally, Temenos Transact achieves market-leading cost-income ratios (the top quartile
clocks 26.8%, which is half of the industry average). Research suggests that these clients can
invest nearly double the industry average in innovation.
Solution Design and Benefits.
1. Lower costs with elastic scalability, security, and control help banks reimagine their business.
2. Innovate faster with unmatched extensibility with 700+ open APIs in the largest Fintech
ecosystem
3. Microservices architecture enables continuous upgrades.
4. True horizontal scalability in the database layer operates on an active-active basis across multi-
cloud.
5. Through DevOps implementation reduces cost and shortens development cycles.
6. Immutable logging procedures bring the highest level of threat security.
7. Explainable AI offers transparency into automated decisions and provides intelligent banking –
growing revenues and enhancing CX.
8. Best-in-class UX through seamless digital journeys across multiple touch points and interaction
modes.
Industry-leading features.
1. T24 Biometrics identification and multi-factor authentication meet regulatory norms and control
internal and external risks.
2. The securities lending component equipped with STP functionality seamlessly processes trading
volumes and manages lending risks.
3. In trade finance, Transact supports complex trade finance structures.

3. 4. Complete service-oriented architecture offers total rapid, cost-efficient, and precise lifecycle
management of the lending process.
5. A competent delinquency management system monitors, ages, and manages customer
repayment obligations.
Maveric’s T24 Transact Core Banking Implementation Support
Today Banks have to engage more discerning customers who shop for better deals across
providers. Temenos Transact assists banks in rolling out newer products via proficiencies drawn
from all sectors and in bringing services and offers that are relevant and innovative. This dynamic
strengthens customer loyalty and generates a buzz that helps acquires new customers.
The three Maveric phases: Implementation – Development – Support
For gaining this advantage, Maveric’s holistic support includes:
– Vision Alignment
– Risk assessment and benefits mapping
– Scenario analysis and situation due diligence
– Knowledge and Product Development
– Project Management
– Maintenance Services 24X7
– Training for core and upgrades
Maveric deep-end support
1. IT Tech Support (L1 to L4; the L4 being critical with most banks having a large number of COTS
products in their portfolio)
2. IT Tech Operations Support (User management, Parameter maintenance, Close of business runs,
Performance optimization, Administration across application, database, and middleware)
3. Consulting (Product selection, Key features in a particular sub domain or function, Oversight on
requirement definition, Critical process management like cut-over, release and post-release
management including for trailing data; or System sunset or migration)

4. Conclusion
As new entrants step into banking, they share a few commonalities – consumer-oriented
technology-driven companies leveraging disruptive technologies. Temenos Transact is the
solution of choice that leverages these technologies to offer an agile digital banking experience.
Original Source: https://maveric-systems.com/blog/temenos-t24-core-banking-software-implementation-in-
2022/