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.


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Supported Operating System(s):

13 Reviews of Temenos Transact

Average User Ratings

Overall

4.76 / 5 stars

Ease-of-use

4.5

Value for money

4.5

Customer support

4.5

Functionality

4.5

Ratings Snapshot

5 stars

(19)

19

4 stars

(6)

6

3 stars

(0)

0

2 stars

(0)

0

1 stars

(0)

0

Likelihood to Recommend

Not likely

Very likely

Showing 1 - 5 of 13 results

June 2021

User Profile Picture

Hasan from Khushhali Microfinance Bank Limited

Verified Reviewer

Company Size: 1,001-5,000 employees

Industry: Banking

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

4.0

Value for money

4.0

Customer support

5.0

Functionality

4.0

June 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.

Reasons for Choosing Temenos Transact

It is a more powerful tool than all other banking software's.

March 2020

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Abid from Bank Alfalah Limited

Verified Reviewer

Company Size: 5,001-10,000 employees

Industry: Banking

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

March 2020

Best Core Banking Software

The Temenos T-24 Transact is absoultely the best core banking software in the financial industry. Many of the world top banks and financial institutions are using temenos due to its reliability as it provides all financial solutions at one platform.

Pros

Temenos T-24 Transact has all the necessary tools which requires to manage front and back end of banking operations. I am using R-13 version of this software from last 8 years and effeciently managing the branch banking operations. While using Temenos i can provide quick and best services to my customers such as Cash Deposit & Withdrawl Transactions, Bulk Salary Posting, Issuance of Financial Instruments, Locker Operations & Account Opening. The Temenos provides realtime analytics and reports which allows the user to make decision fast. Financial Institutions can stores customer information in a very secure way and quickly access it whenever requires. The cloud acceptibility is also the one of the top features of Temenos which gives it edge over other products.

Cons

The Temenos T-24 Transact should have offline mode as when the network is slow it takes time to post transactions. The Cost of implementation of Temenos is too expensive for small and medium size financial institutions.

August 2018

Anonymous

Verified Reviewer

Company Size: 51-200 employees

Time Used: Less than 12 months

Review Source: Capterra


Ease-of-use

4.0

Value for money

3.0

Customer support

3.0

Functionality

4.0

August 2018

Good company

Pros

Super easy to use. It’s fast and most of the random features we want, it has. Makes mortgage fundings easy.

Cons

When we receive a disbursement error, it’s not easy to read the error it gives you. We spend a lot of time figuring out and pushing buttons trying to figure out what went wrong. During implementation, they took forever getting our cases worked through. They kept pushing our go live date. They moved it about 3-4 times.

June 2021

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Saad from Khushhali Microfinance Bank Limited

Verified Reviewer

Company Size: 1,001-5,000 employees

Industry: Banking

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

June 2021

Temenos T24 - All that Banking Needs

Pros

Temenos T24 is an excellent banking solution that comes with a lot of important built-in features that core banking operations require. It comes with its own development framework which is one of the key factors looked upon by banks acquiring core banking solutions, as it cuts down any vendor based customization cost, which can be catered in-house. Also the support available by Temenos round the clock gives immense confidence on this product.

Cons

Some of the extensions of T24 launched in the marked do not have support available widely round the globe, like the Internet Banking Channel. This sometimes create a hurdle to incorporate rapidly changing requirements in the world of online banking.

Reasons for Switching to Temenos Transact

The legacy system topology consisted of multiple systems integrated with each other which together served the purpose of covering all banking needs of the Bank, which made it difficult to manage. With Temenos T24, we eradicated this problem as one and unique system was implemented that full filled all the major banking needs of today.

May 2021

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Ali Qammar from KMBL

Verified Reviewer

Company Size: 5,001-10,000 employees

Industry: Banking

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

May 2021

Most flexible and efficient Core Banking System currently available in the market

Overall experience as a developer and a user is pretty good. Local development is very easy and we can implement even small checks and balances without getting help from manufacturer. All you need is small inhouse development team.

Pros

This CBS is very easy to use and the amount of local development (checks and balances) that can be implemented without getting help from manufacturer really helps bank out to keep up with the regulatory requirements. Integration is also very convenient. We have integrated our system with different ADC channels as well as analytics software systems.

Cons

Overall system performance is good. There are not much technical documentation is available over the internet. In order to learn something new we being developers have to do intensive research over the internet, temenos university and basic PACS site.

Reasons for Choosing Temenos Transact

Most of the banks in Pakistan are using Temenos as their core banking platform. Vendors are easily available and overall reputation of T24 is very good among big banks in Pakistan.