Case Study: Temenos helps banks reduce fraud with HID Global authentication solutions

How HID Global and Temenos Collaborate to Help Banks Reduce Fraud

The customer, Temenos, a provider of core banking software, faced the challenge of rising financial crime and fraud in digital banking, particularly with the evolution of open banking. They needed to help their banking clients ensure secure user authentication and comply with regulations without sacrificing operational efficiency. Partnering with vendor HID Global, they integrated robust identity and access management solutions.

The solution implemented by HID Global involved providing its advanced authentication solutions through the Temenos MarketPlace. This gave banks seamless access to multi-factor authentication, threat detection, and transaction signing. The results were significant; these solutions offered one of the highest threat detection rates with a very low false positive rate. For banks, this integration reduced the total cost of ownership for financial crime mitigation by around 50%, while HID Global became the top-selling provider on the Temenos MarketPlace.

Temenos

Adam Gable

Financial Crime Mitigation Product Director