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Apiax and Pushfor go live on the Temenos MarketPlace

Temenos (SIX: TEMN), the banking software company, announces the launch of Apiax and Pushfor onto Temenos MarketPlace, its platform for facilitating the exchange of value between fintech providers and financial institutions. Both firms emerged as winners from the Temenos Innovation Jam series and will be competing in the Innovation Jam final next month.

Apiax, a Swiss RegTech company and one of the two winners from the Geneva Innovation Jam, is building powerful and flexible tools to master and transform complex regulations into easy-to-use digital compliance rules, which are always up-to-date and verified. The Apiax platform, which can be deployed on premise or in the cloud, combines comprehensive legal expertise with state-of-the-art technology to provide banks with machine-readable and dependable answers to complex regulatory questions and covers key legal areas such as cross-border compliance and tax regulations. The platform empowers legal & compliance experts with full transparency and allows front-line staff to take fast decisions. It ensures full compliance in any situation and is ready to be used in the Temenos WealthSuite.

Philip Schoch, Co-Founder, Apiax AG, said: “Financial institutions are facing mounting pressure from regulators. The current approach for complying with regulation doesn’t scale, is too expensive and can easily result in non-compliance and fines. This is why we have created Apiax, to provide a scalable, easy-to-use, legally dependable solution to this problem. Combining legal expertise with the best digital technology available, we’re delighted to  bring our solution to the Temenos MarketPlace so that we can solve these regulatory headaches for Temenos’ community.”

Also launching is Pushfor, a UK-based firm which provides banks a patented solution for securely sharing content across any platform and to any device. Their patented technology ‘pushes’ content rather than sending it – the difference being the original file remains secure at source. The sharing of content is highly controlled and banks are able to control exactly who sees what, where it is viewed and for how long, minimising the financial, security and regulatory risks of the wrong information falling into the wrong hands. In addition, Pushfor tracks not just who sees content but how they consume it and generates rich usage analytics on previously uncaptured data, it can be a very effective tool in turning digital interactions into sales opportunities.

Pushfor CEO Mike Williams added: “Once you press send, you lose control over where the information and any attachments will end up. Not only is that of great concern for information security, but banks will have to do much better in a GDPR-world where consumer information is sacrosanct. Also, by sending rather than pushing content, banks miss out on the metadata to know how to improve it and on the insights that can improve customer retention and generate additional sales.”

Commenting on the launches, Ben Robinson, Chief Strategy Officer at Temenos, said: “Our commitment with MarketPlace is to find the most innovative fintech solutions, those that add real tangible value to our clients’ businesses. Apiax and Pushfor do exactly that. Both solutions go beyond just simplifying regulatory compliance and enable banks to boost sales and customer experience. We are excited to bring these products, now pre-integrated with the Temenos Suites, onto MarketPlace and also to see both providers compete in the Innovation Jam final at TCF in Dublin next month.”

About the Temenos MarketPlace

Launched at the start of 2016, the Temenos MarketPlace is a platform for facilitating the exchange of value between fintech providers and financial institutions. Its value proposition is based on curating the very best fintech solutions from around the world, certifying and integrating these solutions with the Temenos Suites, and making these solutions as easy as possible to provision. MarketPlace has over 100 applications from more than 50 fintech providers.

About Apiax

Apiax builds powerful tools to master and transform complex regulations into digital compliance rules which are constantly up-to-date and verified and to manage these rules in a fully transparent manner. The rules are ready-to-use in Temenos WealthSuite, consumable via mobile App or can be integrated directly into banking processes through an easy-to-use API. Apiax’ cutting-edge technology provides legal and compliance teams with full visibility and control over their digital rules and empowers client advisors to serve their clients more efficiently and in a fully compliant manner.

About Pushfor

Pushfor is a secure content sharing and messaging platform. What makes it different is nothing is ever sent – meaning the original content remains secure at source. Pushfor’s patented technology projects a view to the device regardless of platform, mitigating data leakage and protecting intellectual property of high value content.

At Pushfor’s core is “Push don’t send”. When you push content, you retain full control (therefore security) and detailed tracking of how, where and who uses it. Unlocking new insights and faster decisions.

With an intuitive out of the box user interface, supported by fully published APIs, Pushfor is perfect for organisations looking to distribute sensitive business content, retaining full control and understanding of its use.

About the Innovation Jams

Each year, Temenos runs a competition to find the best fintech firms. This competition takes the form of regionalised demo-based events called Innovation Jams. Each Innovation Jam includes between 7 and 14 participants showcasing their solutions, all competing for a place in the final which will be held at The Temenos Community Forum in Dublin in May 2018.

About Temenos

Temenos Group AG (SIX: TEMN), headquartered in Geneva, is a banking software, partnering with banks and other financial institutions to transform their businesses and stay ahead of a changing marketplace. Over 3,000 firms across the globe, including 41 of the top 50 banks, rely on Temenos to process the daily transactions of more than 500 million banking customers. Temenos customers are proven to be more profitable than their peers: over a seven-year period, they enjoyed on average a 31% higher return on assets, a 36% higher return on equity and an 8.6 percentage point lower cost/income ratio than banks running legacy applications.

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