Temenos' Mick Fennell Talks AI, Embedded Payments & Partnerships at TCF 2025
Fennell started by saying that instant payments are increasing as the industry is trying to connect local systems to make cross-border payments easier. Because there is an increase of payments happening, and things are getting complicated, banks are using cloud processing to handle the load and keep things running smoothly.
AI is cutting down on false alarms when it comes to fraud and financial crime, while also making operations easier by fixing problems faster. And for customers, AI tools are making things better by helping them understand complicated info. AI is even helping to find the cheapest way to send payments in real-time. He also mentioned that embedded payments are becoming increasingly important as APIs and embedded finance tools are making it possible to connect directly to customer systems. When you add blockchain and stablecoins to the mix, these technologies are enabling faster payments, transparency, and new ways to exchange value.
Then Fennell shared some big news: Standard Chartered is now part of the Temenos Exchange, which a marketplace with over 130 fintech partners that enhance and add value to Temenos. Standard Chartered has been using Temenos' software, but now they're also a partner and the first service they're partnering together on, according to Fennell, is integrating Standard Chartered's FX service, SC ALE.
Temenos will pre-build the integration and w his partnership makes sure they are aligned, that the product is easy to use, and well-maintained, giving banks flexibility and reliability. With over 950 banks using Temenos, this move gives Standard Chartered acces to Temenos client base. This partnership also gives Temenos clients more choices and easier access to further services, including new products related to stablecoins and digital assets in the future.
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The Guardian
an hour ago
- The Guardian
Could AI be accelerating slowdown in the UK job market?
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Despite these high-profile changes and mounting anecdotal evidence, most economists reckon that, so far, Britain's slowing labour market has little to do with accelerating investment in AI. ChatGPT agrees. It spews out the top five reasons in bullet points. Rising employment costs and higher taxes. Monetary tightening and high interest rates. Broader economic slowdown. Weaker hiring demand. The labour market adjusting to a 'new normal'. Unemployment rose to 4.6% in the three months to the end of April, up from about 4.4% at the start of the year. While there are questions over the reliability of the headline statistics, amid well-documented troubles at the Office for National Statistics, separate figures from HM Revenue and Customs show 276,000 jobs have been lost since the chancellor Rachel Reeves's autumn budget. 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The Guardian
an hour ago
- The Guardian
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The Guardian
an hour ago
- The Guardian
Teach First job applicants will get in-person interviews after more apply using AI
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