Local customization
Local Customization in Temenos Transact (T24)
Temenos Transact (T24) is a leading global core banking system, but each country and bank has its own unique regulatory and operational requirements. Therefore, Local Customization is essential to ensure the system aligns with the specific demands of the local market.
What is Local Customization?
Local Customization refers to the process of adjusting, extending, or enhancing the standard functionalities of Temenos Transact to meet:
- National regulatory requirements
(State Bank of Vietnam (SBV) regulations, taxation, local reporting, etc.) - Bank-specific business processes
(Unique workflows or product configurations) - Integration needs with internal ecosystems
(E-banking, Mobile Apps, LOS, CRM, etc.)
Common Forms of Local Customization in Temenos Transact
1. Business-Level Customization
- Enhancing or modifying business logic
Using User Exits or Local COBs to adjust specific workflows, e.g., complex local loan approval processes or domestic payment transactions. - Adding custom configuration parameters
Creating Local Tables for special requirements, such as tax object classification or service fee mapping specific to Vietnam.
2. Interface and Connectivity Customization
- Integration with internal systems:
Seamless connection with local services such as eKYC, accounting systems, tax platforms, VNPT-Invoice, or CIC (Credit Information Center). - User Interface customization:
For banks using Temenos Infinity or direct Transact channels, the UI can be adjusted to reflect local operational habits and preferences.
3. Local Reporting
- Developing regulatory reports
Custom reports for submission to the State Bank of Vietnam (SBV). - Data export in specific formats
Generating outputs in CSV, XML, or other customized formats to support internal processes and compliance.
Local Customization Process
- Business Requirement Analysis
Gathering and clarifying local needs. - Gap Analysis
Identifying the difference between the core system and real-world requirements. - Solution Design
Preparing detailed technical and business designs. - Development & Testing
Building the solution and conducting User Acceptance Testing (UAT). - Deployment & Handover
Delivering the customized solution and providing knowledge transfer.
Key Benefits of Proper Local Customization
- Compliance with local regulations
- Enhanced operational flexibility
- Optimized internal user and customer experience
- Faster go-to-market for new banking products and services
Conclusion
Local Customization is a critical step in making Temenos Transact fit seamlessly into each bank’s environment and the specific characteristics of each market. It allows banks to maintain global standards while fully supporting their local business strategies.
If your organization needs expert support for Temenos Transact Local Customization in Vietnam, feel free to contact us for detailed consultation.