Temenos Opted by Garanti BBVA to Streamline Core Banking

Garanti BBVA International (GBI), a subsidiary of BBVA, has opted for Temenos to streamline its core banking systems. GBI is sliding into the cloud leveraging the Temenos Banking Cloud as a system for its commercial and corporate business clients in Germany and Netherlands.

GBI aspires to be a glowing model of a sophisticated, digitally savvy bank. It has begun a multi-year endeavor to restructure its overall architecture to harness the potential of data and nurture new practices. The bank has adopted a cloud-first strategy and became one of the first in the Netherlands to use the public cloud exclusively for banking activities and hosting services.

Marco Witteveen, COO/CIO, Garanti BBVA International, stated, “At GBI, we have adopted a cloud-first strategy to prepare the bank for the future, transforming our services for the open, digital age. We knew we needed a next-generation core to support our growth and product innovation ambitions, and Temenos was the obvious choice. On Temenos Banking Cloud, we can connect to the financial ecosystem and bring new products to market at a lower cost to build a sustainable business and with the flexibility to adapt to new opportunities.”

The bank’s digitalization hinges on the adoption of Temenos Software-as-a-Service (SaaS) for core banking. It provides GBI the flexibility and paces it needs to optimize operations and cut costs. The Temenos Banking Cloud enables GBI to bring improvement to the market rapidly because of its composable services, API-first architecture, and ecosystem. GBI works with clients in the retail, corporate, and institutional sectors. It provides trade and commodity financing (TCF), corporate banking, cash management, and Global Markets Sales financial solutions.

Jean-Paul Mergeai, President – EMEA-APAC, Temenos, commented, “The GBI team has a clear vision for the future of banking built on open, cloud-native architecture to drive growth with scale and efficiency. Our platform is powering a world of banking that creates opportunities for everyone. As part of the BBVA group, GBI is a pioneer setting the standard for digitization in the industry, and we’re delighted to be part of their journey.” 

 

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REPAY and D2R-Collect Collaborate to Accelerate Payments

Repay Holdings Corporation (REPAY), a prominent supplier of vertically integrated payments solutions, has declared a collaboration with D2R-Collect, a supplier of cloud-based technology and recovery software services, on a technological front. The agreement will help firms using the D2R-Collect platform strengthen and enhance their collection efforts and ensure better digital payment reception abilities.

Susan Perlmutter, Chief Revenue Officer, REPAY, stated, “D2R-Collect’s mission to provide an intelligent SaaS recovery solution is incredibly valuable in a number of industries like credit providers, alternative lenders, and higher education. In order to increase recovery rates and maximize collections, it’s critical to offer convenient payment options that are easily accessible for when a consumer is ready and able to pay. Our partnership with D2R-Collect was a natural fit, with an aligned goal of creating a seamless experience that makes our customers’ lives easier.”

D2R-Collect facilitates simple solutions that allow accounts receivable and collection teams to monitor, analyze, and evaluate outreach activities, resulting in faster recoveries through quick, proactive engagements and personalized client engagements. Companies will be able to take online payments, such as credit and debit cards, as well as ACH/EFT transactions, within the D2R-Collect software because of the interface between the REPAY and D2R-Collect platforms. REPAY updates D2R-Collect with the most recent payment details as funds are transferred, improving procedures and techniques by removing conventional data entry.

Sam Andary, Founder, D2R-Collect, cited, “We’re thrilled to be working with REPAY to expand our digital payment capabilities and empower consumers to make unassisted payments. REPAY’s expertise in the electronic payments space and seamless integration will enhance the efforts and success of our client base of collections agencies, credit unions, and SMBs across the United States and Canada.”

 

Read: Get to know the Integrated Payment Platforms

Fyle Introduced Real-Time Spend Management on Visa Credit Cards

Fyle Inc. introduced a new attribute to the real-time spend management solution for consumers utilizing small business and commercial cards in the US, beginning with Visa. Fyle is going to be among the first spend management platforms to provide immediate and real-time transaction feeds to any Visa-powered credit card customer, with precise registration from the cardholder.

Fyle has combined their current commercial credit cards to provide them with a real-time spend management experience. This immediate data from card feeds and receipts are integrated to make accounting easy and decrease physical work for customers, accounting institutions, and finance teams.

Yashwanth Madhusudhan, CEO, Founder, Fyle, stated, “With this launch, we can offer all customers who have Visa business credit cards access to powerful, AI-driven software to track & manage their card spending. It also gives us the opportunity to collaborate with card issuers who are losing business to new-age corporate card products. For the first time ever, customers won’t have to switch their credit cards to get the best spend management experience.”

As SMBs are getting more advanced AI-based spend management platforms and the liberty to select their commercial credit cards, Fyle is providing its products to any commercial credit card without being conditional on the bank’s tech load. This presents an exclusive partnership prospect to market the services to the bank’s commercial clients.

The real-time feed will diminish the physical effort of organizations and accountants. The organization’s personnel can deposit the everyday receipts from various applications such as Gmail, Outlook, text messages, MS Teams, and Slack, and via Fyle’s Android and iOS mobile applications.

This AI-powered platform immediately codes expense information, designates it to the concerned projects and cost centers, and drives the data to cloud-first ERP and accounting software such as Xero, Sage Intacct, NetSuite, and QuickBooks Online.

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