Temenos Payments vs Temenos Payments Hub

Temenos Payments is a light weight payment solution that aims at processing client’s core payments (domestic and international) with low volumes and up to three clearings (for example, ACH or SEPA, RTGS and Cheque Clearing). It offers the major features, payment enrichment functionalities, and rule driven processing. It can be deployed only in embedded mode with Temenos Core Banking.

Temenos Payments Hub (TPH) is an enterprise grade payment hub solution, which can configure different payment types (high value, batch and instant) by parameterisation without any software changes. The payment management feature can do the following:

Skip, prioritise, and specify later date execution or override changes (manually)
Manage service level agreements by using parameterisation

It maximises Straight-Through Processing (STP) with the ability to configure automated actions for exceptions. Additionally, it reduces risk and improves efficiency by minimising manual intervention. TPH eliminates redundancies and helps in consolidation of disparate payment systems in a single solution. The solution can be deployed in embedded mode with Temenos Core banking (USP of the Temenos offering) or standalone mode with an external Demand Deposit Account (DDA) or accounts system.

Ready Reckoner to Features in Temenos Payments vs Temenos Payments Hub

Feature	Temenos Payments	Temenos Payments Hub
Universal payment process (maximise STP rates)	No automated exception handling	ü
Stand-alone processing	Only embedded	ü
Intelligent routing	Supports channel validations, reachability check, and directory upload Does not support dynamic routing	ü
Advanced payment monitoring	Pending and processed payments monitor	Enhanced monitoring including cut-off time monitor, virtual queue monitor, etc.
Automated rate request to Treasury	On FX threshold breach, rate needs to be entered manually.	ü
Automated return handling	û	ü
Funds Check	Park the funds for manual action Retry using recycler Park in repair when rejected by department account officer	Automatic cancellation when rejected by department account officer
Trigger auto investigation messages	û	ü
Agency banking	û	ü
Corporate customer agreements	û	ü
Automated cancel of payment initiations	û	ü
Group claims	Only supports individual claims	ü
Refund of direct debits	û	ü
Value dates for return payments	û	Use value dates (original payment)
Automated negative response to payment recall	û	ü
Expiry of unanswered recalls	û	ü
Acceptance of customer initiated recall	û	ü
Advanced option for filtering response handling	û	Automatic return, cancel or seize funds
Define cut-off time based on payment currency	û	ü
Non STP rules for customer and bank transfer for correspondent banks	û	ü
Warehouse payments from correspondent banks	û	ü
Customer or customer group specific statement formats	û	ü
Customer or customer group specific non STP rules	û	ü
Customer or customer group special instructions for statements	û	ü
Customer or customer group specific lead times for cut-off	û	ü
Risk filtering	û	ü

Features

The following are the features available:

Features	Description
Universal Payment Process (maximise STP Rates)	Handles the following payment types in a single workflow: High care (SWIFT or RTGS) Low care (ACH) Single Batch Normal Urgent Instant Enables centralisation of payments in a single payment engine and determines the payment product based on the following: Payment attributes – Source/Channel, Message Type, Urgency, Currency, Amount, Destination, etc. Pre-agreed client or bank agreements Triggers the appropriate processing of SLAs, routing (clearing or correspondent to send the payment), pricing, booking and confirmations
	Restricted Support in TPH		Processes different payment types in a single system along with the following restrictions: No support for instant payments No automated exception handling to maximise STP No dynamic routing and settlement Restricts volume to 500K per annum Supports up to three clearings
	Supported in TPH		Processes all payment types in a single system with the following supporting features: Can process instant payments with 24/7 processing and real time connectivity to clearing Dynamic routing between different payment types Automated exception handling to maximise STP No restriction on volumes Design to handle large volumes
Stand-Alone Processing	Executes payments with accounts residing in an external Core Banking System (CBS) or DDA. The system communicates with an external CBS or DDA by using asynchronous messages. It needs to be deployed with Temenos Infrastructure (TI) It is only supported with TPH.
Intelligent Routing	Enables definition of routing rules to determine the correspondent or clearing using which the payment needs to be sent. Routing can be based on message priority. High priority payments can be sent using urgent channels or clearings. Instant payments are routed using instant clearing channel. Channel validations, reachability check and directory support are performed as part of routing. The following are the available routing options: Loro or Nostro (preferred correspondent, SSI or agent) RTGS clearing channel ACH clearing channel Instant payment clearing channel SWIFT payments using Serial or Cover method Allows to define multiple routing options and select appropriate route. If a payment misses the cut-off or the channel cannot be reached, the following options are available: Next available channel Warehouses and processes the payment on the following day Processes on the same day with a shift in value date Checks for a country level routing definition, when the current routing definition is at party level Parks the payment in repair
	Restricted Support (Temenos Payments)	Does not support dynamic routing of automatically selecting the appropriate channel (based on reachability, cut-off time, routing to instant payments clearing). If the payment misses cut-off or the chosen channel is not reached, it routes the payment to repair. Allows only ‘BNK’ (bank) level contract definition. Channel validations, reachability check, and directory support are available.
Advanced Payment Monitoring	Allows payments in different statuses to be monitored easily and to take appropriate action. Different types of payment monitors are available in the system: Pending or processed transactions – All payment transactions in different statuses Process monitor – Count of payments in process or flight by status Virtual queue monitor – Payments in virtual queues (soft definition) Multiple queues can be brought in a single virtual queue monitor Cut-off time monitor Payments awaiting currency or channel cut-offs with the expiry or cut-off time It can be further customised to raise alerts based on cut-off times
	Restricted Support (Temenos Payments)			Supports only pending or processed transactions.
Automated Rate Request to Treasury	FX processes foreign currency payments with conversions using real time rates. Real time rates can be entered from Temenos CBS or any external DDA or rates system. Payments breaching currency threshold can be sent to FX dealer: To provide the treasury rate To automatically process using the rate provided Additionally, it is sent to the manual repair queue for an operator to enter the treasury rate. FX rates can be imposed by an operator in Manual Order Entry and Repair pages. Payments can be processed by taking input of a pre-approved deal rate (by imposing the deal rate).
	Restricted Support (Temenos Payments)			Supports FX conversions with real time rates. The Operator can override the FX rates. Payments breaching threshold can be parked in the manual repair queue for operator to enter the rate.
Automated Return Handling	Can return a payment (credit transfer, direct debit, cheque) received from clearing exceptions (such as invalid or missing account, missing or invalid mandate, restrictions on the account, insufficient funds, and screening failure).
	Restricted Support (Temenos Payments)			Can auto-return a payment for exceptions (such as invalid or missing account or invalid or missing mandate) It routes the payment to repair, for all other exceptions.
Funds Check	If funds are unavailable, the system routes the payment to one of the following: Manual action – The Department Account Office performs the below actions. Approves the overdraft Approves once the funds are available Rejects the payment If rejected from the Manual Action queue based on the configuration, it routes the payment to repair, or cancels or returns it automatically. Sends to recycler to retry for funds
	Restricted Support (Temenos Payments)			If payment is rejected, it parks the payment in manual repair queue.
Triggering Auto Investigation Messages	Auto-triggering of investigation messages (Pacs.028) to ascertain status of the payments, when conformation is not received from clearing. It is only supported in TPH.
Agency Banking	Receives and forwards the payment or file from or to Indirect Participants (IP). It is available only with TPH.
Corporate Customer Agreements	When a payment batch (credit or debit) is initiated by a corporate customer and the payments within the batch fails, it is routed to repair. If it is rejected (credit or debit), an option is available to create a consolidated reject report to customer (Pain.002) on settlement date or certain days (configurable) after the settlement date. When a payment (single or batch) is initiated by a corporate customer, the user needs to defines the following: Number of days post (requested) collection date on which the system needs to perform funds check (for a book direct debit) Number of days post settlement date on which customer status report needs to be generated (pain.002)
Automated Cancel of Payment Initiations	Auto-cancel payment initiations from customers (credit transfers, direct debits) for exceptions (such as invalid or missing account, restrictions on the account, insufficient funds, and screening failure).
	Restricted Support (Temenos Payments)			Routes the payment to repair for all other exceptions.
Group Claims	Supports both the bank claims (individual and group).
	Restricted Support (Temenos Payments)			Supports only individual claims.
Refund of Direct Debits	Allows a refund for a direct debit which is paid based on an authorised or unauthorised mandate. It is only supported in TPH.
Value Dates for Return Payments	Imposes the value date for a return payment to be the same as the original payment. It is only supported in TPH.
Automated Negative Response to Payment Recall	Negative response for a cancellation request can be automatically sent when the original transaction is not found or cancellation request is received after cut-off days.
	Restricted Support (Temenos Payments)			Response to a recall request is manual.
Expiry of Unanswered Recalls	Defines the number of days within which the incoming cancellation request needs to be accepted from the date of original settlement or the system marks it as overdue. It is only supported in TPH.
Acceptance of Customer Initiated Recall	Defines the number of days within which the incoming customer initiated cancellation request needs to be accepted from the date of original settlement. It is only supported in TPH.
Advanced Option for Filtering Response Handling	Payments that are screened for (AML check) and if the response is a hit, the following options are available: Seize funds in an inward credit transfer Auto cancel, return or reject payment Park for manual action
	Restricted Support (Temenos Payments)			Allows only to park for manual actions.
Define Cut-off Time Based on Payment Currency	Defines cut-off times for a channel based on currency of the payment. It is only supported in TPH.
Non-STP Rules for Customer and Bank Transfer for Correspondent Banks	Allows to set non-STP rules to park payment for manual intervention, for customer and bank transfers received from specific correspondent banks. It is only supported in TPH.
Warehouse Payments from Correspondent Banks	Enables warehousing for customer and bank transfers received from specific correspondent banks. It parks the payments in warehouse until the requested execution date or credit value date. It is only supported in TPH.
Customer or Customer Group Specific Statement Formats	Defines specific statement formats for a customer or group of customers. It is only supported in TPH.
Customer or Customer Group Specific Non STP Rules	Payments processed for a customer or group of customers can be made non-STP based on their configuration. It is only supported in TPH.
Customer or Customer Group Special Instructions for Statements	Defines special instructions to be sent when producing account statements for customer or group of customers. It is only supported in TPH.
Customer or Customer Group Specific Lead Times for Cut-off	Defines lead times to be used while arriving at the cut-off time for channel, customer or group of customer. It is only supported in TPH.
Risk Filtering	Performs country, currency, counter party and transaction amount limit. It is only supported in TPH.