HID and Temenos: Accelerate Digital Transformation With Two Decades of Authentication Innovation

Integrated Security Solutions Balance Fraud and Friction

The digital banking landscape moves quickly. Regulations change; new trends and competitors test the smartest strategies. 

Yet falling behind is not an option. According to Forrester data, most banking customers use mobile apps as a primary means of engaging with their bank — while 68% of adults in the UK and 65% in the US expect to be able to accomplish any financial task on mobile.

How can financial institutions capture digital transformation opportunities without compromising security or providing an inferior customer experience?

HID’s latest integration release with the Temenos Digital Banking Platform — which is our tenth update in four years — provides an answer. The product of a 20+ year partnership, it’s powered by our comprehensive authentication platform and supported by a Professional Services team that works closely throughout each project to accelerate time-to-value. It can also be customized with AI-based identity verification and real-time threat detection capabilities for comprehensive fraud prevention. These end-to-end solutions can be tailored to specific needs and are both scalable and easy to implement. 

In this article, we’ll explain how the close collaboration between HID and Temenos helps organizations protect the banking journey while delivering an outstanding customer experience.

The Power of a Longstanding Partnership

HID’s 20+ year partnership with Temenos enables us to offer integrated security solutions to the thousands of institutions that rely on the Temenos Digital Banking Platform. 

These powerful components and workflows help organizations build a digital banking experience that’s secure, scalable and user-friendly — while shortening time to value realization on key transformation initiatives. And they’re underpinned by the support of our experienced Professional Services team, who offer fixed implementation fees and time-to-go-live guarantees to expedite time-to-value on each project.

“The level of support HID provided was key for our smooth launch,” said Henry Voon, Head of IT Systems at HID’s client, Baiduri Bank.

The HID-Temenos partnership has delivered scalable authentication security to more than 100 organizations. It’s also helped us enhance our deep expertise in the banking ecosystem — expertise we rely on when we design and build new features. Our previous release included innovative passwordless authentication options that enable users to confirm their identities without cumbersome (and crackable) passwords. Now, Temenos clients can take advantage of further security and user experience enhancements that make authentication even easier. We’ll tackle those in the next section.

Authentication That Stands Apart for Scalability and Speed

The average consumer accesses dozens of different digital accounts each day, from email and social media to e-commerce and financial services. 

HID’s security solutions help institutions streamline that process with authentication flows that are straightforward, customizable and secure. New features enable Temenos clients to:

• Simplify the onboarding process with user-friendly identity verification
• Accelerate the journey to passwordless authentication with enhanced security features
• Enable users to sign in to multiple digital services with a single set of credentials — securely
• Improve efficiency with enhanced auditing capabilities that enable institutions to enhance security, maintain regulatory compliance and create a more resilient banking environment

Accelerating Time to Value Realization

The amount that financial service firms have invested in digital transformation has risen steadily since 2021. Yet the data suggests that many institutions haven’t realized the full value of those investments. Digital account opening is down, and only around one in ten digital banking users relies on their bank’s own app to make person-to-person (P2P) payments. The financial services industry is one of the most commonly cited sources of authentication issues.

HID serves more than 100 Temenos clients in 45 different countries, and we have 20+ years of experience protecting user journeys in financial services and beyond. We know these institutions must provide an extraordinary experience on each transaction — and we’ve built solutions that bring them the speed, scalability and security they need to deliver on that promise. These solutions offer more than just technical excellence, but the support of service experts who work side-by-side with each customer to maximize value and minimize cost and time.

Your customers are getting impatient. Streamline their security now with HID’s integrated banking, employee authentication and biometric solutions >>