Temenos, based in Geneva, Switzerland, is specialized in building enterprise software for banks and financial services. It partners with them to transform their businesses and keep them at the frontline in the changing marketplace environment. It offers cloud-native, cloud-agnostic, front office and core banking, fund management & wealth management that enable financial institutions to provide frictionless customer journeys and gain operational excellence.
Temenos made an announcement that Optimus Cards is the new subscriber of Temenos open platform for composable banking to expand its cards-as-a-service. Optimus will have benefits in launching and scaling its new products as it can enter new markets with Temenos assistance.
Max Chuard, CEO, Temenos, commented, “Banking-as-a-Service is a massive growth opportunity for innovative companies like Optimus Cards, estimated to be worth $3.6 trillion globally by 2030. To be successful with these new business models, you need the right technology and platform for agility, scale, and innovation. Choosing Temenos open platform for composable banking will allow Optimus to serve its customers at a lower cost while providing the flexibility and agility to expand its portfolio of embedded financial cards and payment solutions in the future.”
Optimus Cards is an authorized Electronic Money Institution (EMI), a principal member of Mastercard, and regulated in the United Kingdom by Financial Conduct Authority (FCA). The company to launch a new white-label credit card and multi-asset crypto-enabled debit card services and the banking platform of Temenos will manage consumer accounts and process all transactions. Also, the EMI will use composable banking to build a lending solution to manage its new credit card service. Optimus will partner with Europe and US-based local regulated issuers to expand its business outreach.
Lindsay Robertson, CEO, Optimus Cards, stated, “Our strategy is based on innovation, speed, and flexibility, providing solutions to mutual institutions like credit unions and building societies, and innovative FinTechs bringing Web 3 services to the market. The economics of our offering enables customers of all sizes to offer card services profitably, and that requires a high-performance technology stack. Optimus chose Temenos for the platform’s proven reliability and resilience and the flexibility to compose solutions for a broader range of Banking-as-a-Service offerings in the future. With a client base that includes more than 3,000 banking clients and 500 credit unions in the U.S., Temenos also has a huge customer ecosystem and experience that will be invaluable as we push into new markets.”