Achilles Manolopoulos

Core Banking - Fiserv vs Temenos (Transact) The story of core banking is a story of reinvention. In the 1980s & 90s, banks ran on massive, monolithic cores built for batch processing and closed architectures. As globalization reshaped financial services, two paths emerged. In Europe, Temenos (founded 1993) set out to build packaged, parameter-driven software adaptable to different markets. Its flagship, Transact (T24), became the system of record for retail, corporate, and wealth banking in 150+ countries. Meanwhile in the U.S., Fiserv grew through acquisitions & becoming the default vendor for thousands of community banks and credit unions. Its newer bet, Finxact, gives it a cloud-native lever to modernize without discarding conversion muscle. That history sets the stage for today’s comparison: >Product -Fiserv: broad U.S. coverage + Finxact for modern plays; strong tie-ins to payments monetization. -Temenos Transact: global retail/wealth/corporate coverage; rich catalog; wide SI network and country packs. >Tech Stack -Fiserv: hybrid cores + cloud-native Finxact; tight integration with digital, fraud, card, and money movement. -Temenos: microservices evolution; robust product engines; proven localization layers. >GTM -Fiserv: strongest in North America; vendor-led delivery and conversions; payments-adjacent story. -Temenos: SI (systems integrator)-led programs, multi-country deals, complex corporate banking. Key SIs: Accenture, Deloitte, Tata Consultancy Services, Infosys, Cognizant, Capgemini. >SWOT -Fiserv Strengths: phased modernization, conversion muscle, end-to-end payments monetization. -Fiserv Weaknesses: U.S.-skew; complexity across cores. -Temenos Strengths: global references, corporate depth, partner ecosystem for localization/regulatory. -Temenos Weaknesses: SI cost/variability; upgrade discipline depends on governance. >> 2 to 3yr Outlook << >Base case: multi-country banks lean Temenos; U.S. regionals lean Fiserv; hybrids emerge. >Incumbents: FIS and Jack Henry defend with progressive modernization. Oracle, Finacle, BaNCS strong in EMEA/APAC. >Challengers: Between Thought Machine (flexibility), Mambu/Nymbus (speed), Corelation, Inc. (credit unions), expect selective wins in greenfield, spin-outs, and carve-outs where instant payout/FX and evented ledgers matter. >Bull cases: -Fiserv: Finxact + payments adjacency boost ROI. -Temenos: corporate depth + partner velocity drive deals. -Challengers: modular cores power embedded banking, wallets, and BaaS. Watchpoints: -Lifecycle cost (vendor vs. SI), upgrade cadence, AI/data convergence, portability, instant-payment integration. Conclusion The 'winning core' won’t be a monolith but an orchestration layer: evented ledger (will cover this), clean product engines, reliable upgrades, and hooks into instant payments + AI. Banks will run multi-core estates linked by APIs which will not look like a once-in-a-generation replacement. #corebanking #fintech #banking #payments

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Checkout.com secures Georgia banking charter to accelerate US expansion #Checkout.com has reached a major milestone in its US strategy with the acceptance of its application for a Merchant Acquirer Limited Purpose Bank (MALPB) charter by the Georgia Department of Banking and Finance. Founded by Guillaume Pousaz, the London-headquartered payments provider will gain direct access to US card networks, enabling it to act as its own acquirer and deliver higher-performing, more controlled payment solutions for enterprise merchants. The move follows a period of rapid US growth. Since launching merchant acquiring services in 2021, the region has grown to represent 15% of Checkout.com’s global business, with US volumes expanding over 80% in 2024 alone. The company is on track to exceed 30% net revenue growth in its core business this year and expects to process more than $300 billion in eCommerce volume in 2025. Trusted by global customers including eBay, Klarna, GE Healthcare, and Pinterest, Checkout.com sees the US as its fastest-growing market, projected to become its largest by 2027. The charter coincides with the opening of a new Atlanta office, joining New York and San Francisco, and the appointment of Jordan Reynolds as MALPB CEO and Head of North America Banking. Reynolds will lead compliance and operations, reinforcing Checkout.com’s commitment to reshaping enterprise payments in the US. The announce on #Checkout website in the first comment.

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Open Banking allows for the secure, electronic sharing of financial information under conditions that are approved by customers. Open Banking supports the direct, bank-to-bank transfer capabilities of A2A payments, therefore enhancing the efficiency and security of financial operations. Through this integration, a seamless payment experience for consumers is presented, exemplified by scenarios where online purchases are completed directly via bank transfers; enhancing speed and reducing complexity. Open Banking has played a pivotal role in the development of A2A payments; providing a secure infrastructure in which banks and FIs share and exchange data with third-party providers (TPPs). Before the integration of Open Banking, A2A payments took place on legacy payment rails, being more cumbersome and less appealing to consumers. Open Banking technology and APIs have enabled consumers to use their banks in combination with payment rails to conduct instant A2A payments. https://lnkd.in/gQ_jPaXA #payments #openbanking #banking #openfinance

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📲 Remittances are going digital-first — and that’s the wake-up call for incumbents. Visa’s Money Travels 2025 Report confirms what many in payments already see: digital apps are now the #1 initiation channel for remittances globally. Consumers are clear about why: ✔ Ease of use ✔ Security & privacy ✔ Speed and convenience For banks and exchange houses, the message is urgent: 👉 Digital initiation isn’t optional — it’s the baseline. 👉 Omnichannel, digital-first journeys must blend trust + compliance + convenience. 👉 Once digital is the norm, innovations like stablecoins and tokenization can scale. Remittances aren’t just about moving money anymore. They’re about building digital-first financial bridges for 1 billion people worldwide. The winners will be those who pivot now, not later. #DigitalPayments #Remittances #Fintech #Visa #FinancialInclusion

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