Temenos has extended its leadership in cloud-based banking and finance software with the launch of its Payment Jub in Microsoft Azure’s cloud.

The software specialist for banking enables banks to transform their payment, offering a lower initial investment through its cloud service.

Payment Hub operates as a fully embedded component of the Temenos Core Banking platform, and is available both in the cloud and on-premises.

It also runs as a standalone payment-processing engine, offering banks a single solution for processing low and high value, and instant payments.

Darryl Proctor, product director for payments at Temenos, stated: “We have been pioneering with Microsoft since 2011, which led to Temenos becoming the first vendor to put a core banking system in the public cloud.

“We are now extending our capabilities by becoming the first to launch a payment hub, that is fully embedded into a core banking platform, in the cloud. With the addition of payments to our cloud offering we have the most complete cloud-based portfolio available in the market.

“We see a real appetite in the banking space for cloud solutions, with 22% of new business taking cloud services as an alternative to on-premises deals and a doubling of average deal size.”

Written by Leah Alger