Temenos Implementation for Financial Institution
A financial institution was constrained by legacy core banking systems that limited innovation, created operational inefficiencies, and hindered customer service. Manual processes, poor integration with modern fintech solutions, and regulatory compliance challenges were preventing the bank from competing effectively in a digital-first banking environment.
Sylox delivered a comprehensive Temenos Transact (formerly T24) implementation with digital banking integration, payments transformation (SWIFT/SEPA), and a regulatory compliance framework. The result: 40% improvement in operational efficiency, 60% reduction in manual intervention, enhanced customer service, and modern scalable architecture supporting digital innovation.
The financial institution was operating on legacy core banking systems built decades ago—limiting their ability to launch new products, integrate with modern fintech partners, and deliver the digital banking experience customers expect. As competitors modernized their technology stacks, the institution risked losing market share and falling behind in innovation.
Business Problem
Specific Pain Points
● Outdated core banking systems built on aging technology platforms
● Limited scalability constraining business growth and transaction volumes
● Inability to support modern banking products (digital wallets, real-time payments, API banking)
● High maintenance costs for legacy infrastructure
● Manual processes creating bottlenecks in account opening, loan processing, and customer service
● 60%+ of operations requiring manual intervention and paper-based workflows
● Slow transaction processing impacting customer experience
● Error-prone manual data entry and reconciliation
● Poor digital banking capabilities unable to compete with neo-banks and fintech competitors
● Limited self-service options forcing customers to visit branches
● Slow response times for account inquiries and transactions
● Inconsistent experience across channels (branch, online, mobile, ATM)
● Difficulty integrating with modern fintech solutions and third-party services
● Lack of APIs preventing partnership opportunities
● Siloed systems creating data fragmentation
● Regulatory compliance challenges with outdated reporting capabilities
The technology gap was creating customer churn, limiting product innovation, and increasing operational costs. The institution was losing deposits to digital-first competitors and struggling to attract younger customers who expected modern banking experiences. Regulatory reporting was manual, error-prone, and consuming significant resources.
Business Impact
Our Solution: Comprehensive Temenos Transformation
We provided end-to-end deployment of Temenos Transact—the world’s leading core banking platform—with comprehensive customization for the institution’s specific needs, integration with digital banking channels and payment networks, and a regulatory compliance framework. The implementation modernized every aspect of core banking while ensuring business continuity and data integrity throughout the migration.
5. Legacy Data Migration
● Complete data migration from legacy systems to Temenos Transact
● Data validation and cleansing ensuring accuracy and integrity
● Historical data preservation maintaining regulatory-required transaction history
● Zero data loss migration with comprehensive validation and reconciliation
4. Regulatory Compliance Framework
● Built-in compliance for banking regulations (Basel III, AML, KYC, data privacy)
● Automated regulatory reporting eliminating manual report compilation
● Audit trail capturing all transactions and system activities
● Risk management modules for credit risk, market risk, and operational risk
3. Payments Transformation
● SWIFT integration for international payments and correspondent banking
● SEPA processing for European payment standards compliance
● Real-time payment processing supporting instant transfers and settlements
● Payment hub architecture centralizing all payment types (domestic, international, card, instant)
2. Digital Banking Integration
● Omnichannel digital banking unifying customer experience across web, mobile, and branch
● API-first architecture enabling third-party integrations and fintech partnerships
● Customer self-service portal reducing branch traffic and call center volume
● Mobile banking app integration with native iOS and Android capabilities
1. Complete Core Banking Modernization
● Temenos Transact (T24) implementation replacing legacy systems across all banking functions
● Modular architecture supporting retail banking, corporate banking, payments, and lending
● Real-time transaction processing eliminating batch processing delays
● Modern technology stack built on scalable, cloud-ready infrastructure
Migration Strategy
● Phased implementation minimizing business disruption
● Parallel run validating new system against legacy before cutover
● Comprehensive testing (functional, integration, performance, user acceptance)
● Training program for all banking staff on new platform
Customization & Configuration
● Product configuration tailored to institution’s banking products
● Workflow customization matching operational processes
● Reporting templates aligned with regulatory requirements
● User interface localized for regional market
Integration Points
● SWIFT network for correspondent banking and international payments
● SEPA infrastructure for European payment processing
● Card processing systems for debit and credit card management
● Digital banking platforms (web and mobile applications)
● Third-party services (credit bureaus, identity verification, analytics)
Temenos Modules Implemented
● Core Banking (accounts, deposits, loans, customer management)
● Payments Hub (domestic, international, instant payments)
● Loan Origination (retail and corporate lending)
● Treasury (liquidity management, investment accounting)
● Compliance (AML, KYC, regulatory reporting)
Results That Modernize Banking
● 40% improvement in operational efficiency across all banking functions
● 60% reduction in manual intervention through process automation
● Streamlined workflows eliminating paper-based processes
● Faster transaction processing improving customer experience
● Automated account opening reducing days to hours
● Straight-through processing for payments and transfers
● Automated reconciliation eliminating manual matching
● Workflow automation for loan approvals and customer onboarding
● Real-time information access eliminating system delays and searches
● Single customer view across all banking products and channels
● Reduced training time with intuitive modern interface
● Better decision support with embedded analytics and reporting
● Modern digital banking matching fintech competitor capabilities
● Real-time transaction processing instant account updates and confirmations
● Omnichannel consistency seamless experience across all touchpoints
● 24/7 self-service reducing dependency on branch hours
● Faster account opening (days to hours) improving customer acquisition
● Real-time balance and transaction visibility enhancing customer confidence
● Instant payments enabling modern payment use cases
● Better customer support with complete transaction history and context
● Ability to launch new banking products quickly (weeks vs. months)
● API banking capabilities enabling third-party integrations
● Support for digital wallets and emerging payment methods
● Flexible product configuration adapting to market needs
● Modern core banking platform supporting digital innovation
● Scalable architecture handling 10x transaction volume growth
● Cloud-ready infrastructure enabling future cloud migration
● API ecosystem fostering fintech partnerships and integrations
● Automated compliance with built-in regulatory frameworks
● Real-time reporting eliminating manual report compilation
● Audit readiness with complete transaction trails
● Risk management tools for proactive compliance monitoring
● Digital parity with neo-banks and fintech competitors
● Faster innovation cycles launching products in weeks vs. months
● Integration readiness for fintech partnerships
● Modern brand positioning attracting younger customer segments
● Reduced operational costs through automation and efficiency
● Improved profitability from operational efficiency gains
● Revenue enablement through new digital banking products
● Lower maintenance costs vs. legacy systems
◉ Temenos Transact (T24)
◉ Temenos Infinity (digital banking)
◉ Temenos Payments Hub
◉ Temenos Analytics
◉ SWIFT (international payments)
◉ SEPA (European payments)
◉ Domestic payment rails
◉ Card processing networks
◉ RESTful APIs
◉ SOAP web services
◉ Custom integration middleware
◉ Real-time event processing
◉ Enterprise application servers
◉ Database systems (Oracle/SQL Server)
◉ Message queuing
◉ Security infrastructure (encryption, IAM)
1. Core Banking Modernization is Business Transformation
Replacing legacy core banking systems impacts every aspect of operations, customer experience, and competitive position.
2. Phased Implementation Minimizes Risk
Comprehensive planning, parallel run, and phased cutover ensure business continuity during major system transformation.
3. Digital Integration is Essential
Modern core banking must integrate seamlessly with digital channels, payment networks, and third-party services.
4.Compliance Automation Reduces Risk and Cost
Built-in regulatory frameworks automate compliance and reporting, reducing manual effort by 60%+ while improving accuracy.
5. Change Management Drives Success
Technology is only part of transformation—comprehensive training and change management ensure user adoption and value realization.
Banking Modernization Use Cases
● Digital account opening
● Personal loans and mortgages
● Retail payments and transfers
● Customer relationship management
● Business account management
● Commercial lending
● Treasury services
● Trade finance
● Domestic and international payments
● Real-time payment processing
● SWIFT and SEPA integration
● Payment reconciliation
● AML and KYC automation
● Regulatory reporting
● Credit risk management
● Operational risk monitoring
If your financial institution faces challenges with:
● Legacy core banking systems limiting innovation and efficiency
● Digital banking transformation competing with fintech and neo-banks
● Operational inefficiencies requiring manual processes
● Regulatory compliance with outdated reporting capabilities
● Customer experience falling behind digital expectations
hello@syloxlabs.com
+91 99980 71594
Schedule a consultation with our banking transformation specialists to explore how Temenos and modern core banking can transform your institution.
Related Case Studies
This case study represents actual client implementation with details anonymized for confidentiality. Results achieved through 6-month engagement with 12 Temenos specialists and 4 integration experts. Individual results may vary based on specific implementation context and business requirements.
