Geneva, Switzerland – Temenos, a global leader in banking software, has fortified its end-to-end Software-as-a-Service (SaaS) banking platform by integrating advanced fraud detection tools. This strategic enhancement aims to provide financial institutions with robust, real-time protection against financial crimes, ensuring secure and compliant banking operations.

Comprehensive Financial Crime Mitigation

The integrated fraud detection tools are part of Temenos’ comprehensive Financial Crime Mitigation (FCM) suite, which encompasses:

• Anti-Money Laundering (AML) Monitoring: Real-time transaction monitoring to detect and prevent money laundering activities.
• Know Your Customer (KYC) Compliance: Enhanced customer due diligence processes to ensure regulatory compliance.
• Watchlist Screening: Automated screening against global sanctions and watchlists to identify high-risk individuals and entities.
• Fraud Detection: Advanced tools to identify and mitigate fraudulent activities across various banking channels.

AI-Powered Fraud Detection

Leveraging Explainable AI (XAI), the integrated fraud detection tools analyze transaction patterns and behaviors to identify anomalies indicative of fraudulent activities. This AI-driven approach enhances detection accuracy while reducing false positives, allowing financial institutions to focus resources on genuine threats.

Seamless Integration and Scalability

The fraud detection tools are seamlessly integrated into the Temenos SaaS banking platform, ensuring a unified and efficient user experience. The platform’s scalability allows financial institutions of all sizes to implement the solution, adapting to their specific needs and growth trajectories.

About Temenos

Temenos is a global banking software company that provides end-to-end banking solutions to financial institutions worldwide. With a focus on innovation and security, Temenos empowers banks to deliver superior customer experiences while ensuring compliance and operational efficiency.