Technology provider Temenos will integrate Mastercard’s Mastercard Move solution to provide banks with international money transfer capabilities. 

Mastercard Move will enable Temenos’ bank clients to use a range of options to cost-effectively route and deliver money, according to a June 4 Temenos release.

Banks can choose from a variety of payment options, ranging from cards, bank accounts, cash pick-up locations and mobile wallets. 

“There is growing demand for cross-border payment solutions,” Mick Fennell, business line director for payments at Temenos, told Bank Automation News. “Banks and payment services providers are seeking ways to expand their offerings to create cheaper, quicker and better services for their customers.” 

Mastercard Move will be integrated into Temenos’ payments hub, and banks can choose the solution to embed in their offerings from the platform, the release stated. 

“We’re seeking to expand and diversify the options that our customers have when they use the Temenos platform,” Fennell said. “Mastercard Move enables our customers to quickly enhance and extend their cross-border payment services.” 

The integration with Mastercard Move should be available in the fourth quarter of 2024, Fennell said. 

FNBO selects Derivative Path for FX payments

First National Bank of Omaha has selected cloud-based payments provider Derivative Path’s foreign exchange (FX) solution. 

The DerivativeEDGE platform will enable FNBO clients to make cross-border payments and gain automated access to liquidity, competitive FX rates and real-time currency conversions, according to a recent Derivative Path release. 

“Many banks have been increasingly interested in providing FX capabilities to their clients,” Zack Nagelberg, chief growth officer at Derivative Path, told BAN. “This shift is driven by a desire to diversify their customer base, moving more into commercial and industrial sectors and away from commercial real estate.” 

By enhancing their treasury management solutions, banks aim to attract customers and deposits through value-added services beyond competitive pricing, Nagelberg said. 

Michael Salerno, managing director of global banking group at the $30.8 billion FNBO, told BAN: “Collaboration with Derivative Path to bring our expertise and payment processing along with their technology was a natural next step in helping our customer simplify international payments while driving fee income.”  

More than 200 financial institutions, including Heritage Bank and United Community Bank, are Derivative Path customers, Nagelberg said. FNBO is expected to be live with its FX offering in the third quarter of 2024. 

Cockroach Labs and mLogica team up for cloud offering

Cloud-based tech provider Cockroach Labs and technology and product consulting company mLogica are teaming up to help FIs modernize their legacy mainframe and data systems to the cloud, according to a May 30 Cockroach Labs release. 

“Banks and payment providers are accelerating their embrace of the cloud as they realize its benefits compared to mainframes and legacy systems,” Howard Weale, vice president of global system integrators at Cockroach Labs, told BAN. “While early adoption often lacked intentionality, we’re seeing a big shift where companies aren’t just rushing into cloud tech anymore — they’re looking for thoughtful solutions that tackle specific challenges, such as managing data regulations across environments.” 

By working with mLogica’s generative AI model, Cockroach Labs can shorten timelines for cloud migration, Weale said, adding that projects that might have taken years can now be accelerated significantly. 

“Smaller financial institutions are often drawn to the cloud because of its scalability, flexibility and cost benefits,” Weale said. “Meanwhile, larger institutions are also making the shift, especially as they contend with increasingly complex data regulations and shifting standards for operational resilience.” 

Digital bank Nubank, investment platform Stash and online payments provider checkout.com are some of Cockroach Labs’ customers, according to the company’s release. 

M&T Bank, nCino expand partnership

M&T Bank is tapping nCino’s Continuous Credit Monitoring Solution, the cloud-driven tech provider announced May 15.  

The solution uses Rich Data Co.’s explainable AI technology, which boosts overall security, credit health and decisioning, Sean Desmond, chief product officer at nCino, told BAN. 

The $215 billion M&T has been doing commercial loan origination with nCino for six years and continues to expand its use of the platform, including tapping nCino’s auto spreading solution and now its Continuous Credit Monitoring Solution, Desmond said. 

People’s Bank, Honor Bank and Grasshopper Bank are some of nCino’s customers, according to the company’s website. 

Visit Bank Automation News’ Transactions Database, which lists the technology selected or acquired by companies in the financial services industry, with a specific focus on technology that enhances automation.