Temenos, a Swiss banking software company, announced that Lithuanian electronic money institution FINCI has gone live with Temenos.

FINCI said that Temenos’ rich banking functionality and API-first, microservices-based technology enabled it to design, build and launch the service from scratch in just 4 months.

FINCI is running next generation Temenos Payments on cloud-native technology along with Temenos Transact core banking on the same environment.

This allows FINCI users to send, manage and receive instant multi-currency payments alongside with possibility for further extension of intelligent financial management tools all within a single app.

FINCI said that it aims to simplify daily financial management for private individuals, entrepreneurs, freelancers, startups and already successfully working businesses of different industries by automating stressful and time-consuming financial and accounting tasks in a single app.

With new open banking regulations, Temenos’ APIs also allow FINCI to integrate quickly with a wide range of external systems to help create its multiple intelligent financial management applications and drive its product and service innovation.

FINCI will initially be available in the Baltic states and Poland with plans to extend the offering to the customers in other European countries and the UK.

David Macdonald, President of Europe, Temenos said,

“As FINCI has shown, our technology enables challengers to create hyper-efficient business models that deliver more value to their customers.

Temenos has a strong presence in the CEE region and we look forward to supporting FINCI as it expands into new markets and leverages the agile product building capabilities of our platform to enhance its offering and bring innovative new ways to improve its customers’ financial lives.”

Featured image credit: FINCI