Temenos announces strategic alliance with Elan Financial Services
EFT processing specialist to provide ATM and debit card processing services to Temenos customers
22 Jan, 2015, 02:15 ET
BIRMINGHAM, Ala., Jan. 22, 2015 /PRNewswire/ -- Temenos (SIX: TEMN), the market-leading provider of mission-critical solutions to the financial services industry, today announces that it has entered into a strategic alliance with Elan Financial Services, a leader in electronic fund transfer (EFT) processing, to provide ATM and debit card processing for Temenos USA customers.
Temenos will leverage Elan's size and long-standing investment in EFT processing, fraud mitigation, and expansive self-service options, coupled with their exemplary customer service reputation, to enable its domestic U.S. customers to take their ATM and debit card programs to the next level. Temenos customers will also benefit from Temenos' technological integration with Elan, which is designed to improve back office efficiencies. Elan Financial Services brings the experience of managing over 4 billion transactions annually, while supporting more than 35,000 ATMs.
David Brasfield, Temenos Regional Director for North America: "Transaction banking as a whole is going through a lot of exciting developments at the moment. We believe innovation within this area will be key to the ongoing digital banking revolution. As a partner and proven leader within debit and ATM card processing, Elan is strategically aligned to provide our clients with innovative solutions that allow them to recognize significant operational efficiency and increased profitability."
Troy Cullen, President of Elan Financial Services: "We are excited to be Temenos' preferred partner for ATM and debit card processing services in the U.S. Our relationship with Temenos' predecessor, TriNovus, dates back to 2000. We look forward to continuing to expand our relationship with them to help accelerate their continued growth and success."
Founded in 1993, Temenos is the market-leading provider of banking software to retail, corporate, universal, private, microfinance, community banks, credit unions and wealth managers. Together, TriNovus and Temenos, now known as Temenos USA, have experience of implementing in over 1,100 financial institutions. Temenos' products provide advanced technology and rich functionality, incorporating best practice processes that leverage Temenos' expertise around the globe. Temenos customers are proven to be more profitable than their peers: in the period 2008-2012, Temenos customers enjoyed on average a 32% higher return on assets, a 42% higher return on equity and an 8.1% lower cost/income ratio than banks running legacy applications. For more information please visit www.temenos.com/en-us.
About Elan Financial Services
Elan Financial Services, a division of U.S. Bank, provides a complete range of processing and payments services, including credit card issuing, prepaid card solutions and ATM and debit card processing. A leading credit card issuer, Elan also provides transaction processing, terminal driving and monitoring and support services for more than 35,000 ATMs nationwide and supports more than 10 million ATM and debit cards. For more information, visit www.elanfinancialservices.com.
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