Banking and finance software provider Temenos has launched its Payment Hub on the Microsoft Azure cloud platform.

The Payment Hub operates as a fully embedded component of the Temenos Core Banking platform and allows banks to transform their payments offerings at a lower initial investment, providing better value to their customers. Temenos is the first to launch a cloud-based version of a payment hub that is fully embedded into a core banking platform.

“We have been pioneering with Microsoft since 2011, which led to Temenos becoming the first vendor to put a core banking system in the public cloud,” said Darryl Proctor, product director of payments, Temenos.

Also available on-premise, Temenos’s Payment Hub can run as a standalone payment processing engine to provide banks with a single solution for processing low value, high value and instant payments. This results in increased efficiency and improved user experience.

Now that Temenos can leverage the global scale of Microsoft Azure, the Payment Hub can be implemented quickly and maintained easily. It is designed to improve the experience for both the user and the bank across all channels, with features including intelligent routing and settlement.

“Technology is increasingly providing financial institutions a competitive edge, and is enabling firms to deliver essential financial services to people around the world – services that can drive entrepreneurial spirit, build community, and foster creativity and purpose,” said Janet Lewis, vice president of Worldwide Financial Services at Microsoft.

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