Temenos Transact Reviews

My use case for Temenos Transact as a program manager from the partner side involves clearing the exams, including the TIM Implementation Methodology, for which I am certified. I work as a program manager in their projects and have rolled out full-scale implementation projects which include Temenos Transact, Infinity, Temenos Payment Hub, and TDH. I am also rolling out another project of the technical upgrade from R10 to R24.

The best features of Temenos Transact that I find valuable are its extreme configurability and comprehensive nature.

The open API capabilities of Temenos Transact allow it to be connected with external systems through the APIs, including Iris APIs and microservices APIs.

I have utilized the advanced analytics feature in Temenos Transact in my previous implementation, which was previously unnamed but is now called Outbox.

Areas of improvement for Temenos Transact include the GUI which needs further enhancement, as users are still using Classic instead of the UXP Explorer because the UXP is not optimized from a performance and responsiveness perspective.

Temenos Transact needs to be more optimized for other devices, as the Transact Explorer is not performing adequately over the web, causing users to revert to the older version of Temenos Transact.

I have approximately three years of experience with Temenos Transact.

There were issues with the microservices between Temenos Transact through DES and Infinity not communicating properly with each other, and they were not properly developed at that time.

I believe Temenos Transact is a stable solution.

In my opinion, Temenos Transact is a scalable solution, but its scalability depends on having sufficient hardware behind it, whether in the form of cloud or purely on-premises implementation.

I would rate customer service from Temenos as good, but it depends on whether the contract is tier one, tier two, or tier three and what type of contract Temenos has with the customer itself.

Neutral

I have seen a return on investment for Temenos Transact. However, there are challenges when it is hosted over Azure cloud. If Microsoft experiences problems, Temenos cannot intervene. We encountered this issue in a previous implementation in the Middle East, where the disaster recovery center had no capacity due to Microsoft's limitations. This caused significant concern from the customer about the solution, especially since the standard practice requires the disaster recovery to be at least 50 kilometers outside of the production server.

Additionally, the microservices for smaller customers are not optimized and become difficult to manage. Microservices are most effective when implemented for very large customers with extensive databases, suggesting a monolithic approach would be more suitable for smaller implementations.

The microservices for smaller customers are not optimized and become difficult for customers to manage. Microservices work best when implemented for very large customers with extensive databases, so it should be monolithic instead of microservices.

My clients for Temenos Transact are usually those that have a very small customer base, such as banks with around 5,000 customers, but even then, we were rolling out both digital and Temenos Transact.

The rating depends on how large the customer is and their ability to escalate at the highest level of Temenos. Under optimal conditions, it can achieve a ten out of ten rating.

I rate Temenos Transact as among the top two solutions in the banking domain, being a very significant player alongside Finastra. I have given it a rating of 9 out of 10.

We use Temenos Transact for the whole banking system, encompassing deposits, advances, and investments. Everything is included in the software and serves as our everyday use for banking transactions at both the branch level and head office level. All financial activities related to banking are performed in this software.

The integration with other modules including investments, advances, loans, and other portfolios makes it effective. The whole system is pretty much integrated.

A lot of solutions are in place. We work with Temenos Transact and Outlook for emails, along with some in-house built platforms.

Temenos Transact is a banking software used worldwide. We are an end user and a banking industry utilizing this platform.

We are using Oracle, which is integrated with Temenos Transact. We have an SMS alert system that is integrated, and WhatsApp is integrated with Temenos Transact. You can receive runtime updates regarding your accounts on WhatsApp by using a number. These are the APIs we are using. Since this is a technical matter, an IT department member could answer it in a better way.

There is a dire need to improve the GUI, graphical user interface. It is pretty old-styled and boring.

There are no advanced analytics procedures. Only standard reports are available that we download and perform our analytics from there. We have some integrations with Microsoft Power BI. Any top-level analysis that we require is performed on Microsoft Power BI. No analysis is performed inside Temenos Transact.

It has been five years now.

The benefit is that it is pretty stable. It does not crash the way other banking software that this organization has used in the past.

I do not deal with Temenos Transact's customer service directly, but our IT department does.

Within days, the support does not take much time unless any development is required at their end. If it is a glitch, it is done in hours or days.

The performance is quite good. We have 1,500 branches across the country and are from the banking sector. Things are pretty fine.

The decisions are made at the management level. It is pretty expensive. I do not have any idea about the exact amount, but I know that it is in dollars and is based per user. We have around 6,000 to 7,000 users in Temenos Transact. It is probably pretty expensive.

For meeting purposes, we are using Zoom still, but we are planning to move it to Microsoft Teams in the coming few months.

I do not think there is any new thing that I can share regarding this application. Maybe in a couple of months I will be able to share some more valuable insights because we are in the process of some changes at an organizational level. I gave this review a rating of ten out of ten.

We use this solution as our Core Banking System.

This solution has provided us with an all-round banking solution that has local development capabilities.

The most valuable feature is the straight-through processing.

The Trade Finance customer frontend needs to be improved.