PASPX in tech overhaul with Temenos
Denmark-based e-money company PASPX selected Temenos’ front-to-back office software Infinity and T24 Transact for its tech overhaul and to “significantly grow its business”, according to the vendor.
PASPX also signed for Temenos’ payments and financial crime mitigation tools.
Pre-integrated, packaged software will enable PASPX “to achieve a very short time of deployment and a quick time to value”, Temenos claims. It will support PASPX from client onboarding and detection of suspicious activity, to real-time processing and online transfers.
Meanwhile, the T24 Transact component “will be the technology backbone of PASPX”, the vendor adds.
PASPX was founded in 2008 and holds an e-money licence. According to Temenos, it was looking to put a technology foundation in place that would enable it to compete and scale as the company transitioned from its grassroots in Denmark to its Nordic vision.
“As a challenger in this space, we differentiated ourselves from the incumbents by reacting quickly to market developments and addressing customer needs before our competitors,” comments John Hejndorf Kristiansen, CEO of PASPX.
The new platform, which will be deployed in the cloud, “will be up and running quickly” lowering the overall cost of deployment, he hopes.
Temenos already has a couple of clients in Denmark in the core banking space, including Danske Bank and the local operations of Telia Finance and Nordea.
Elsewhere in the Nordics, the vendor has recently signed three banks in Finland – Oma Savings Bank, POP Bank Group, and Savings Banks Group – for its T24 Transact system and the payments hub. This project will be delivered by Cognizant.
