Mobile payments systems provider Luup will be integrating Temenos T24 banking components as part of Luup's growth strategy for their existing mobile payments offering aimed at financial institutions and their customers, from corporates to consumers. Additionally a strategic partnership agreement between Luup and Temenos is expected to open up joint business and growth opportunities.
In the retail banking sector Luup can allow banks to offer person-to-person money transfer and ATM cash-out, person-to-merchant bill payments, salary payments to name a few. Added to this, are the possibilities of global mobile remittance services. For corporate banks and their corporate clients, Luup's technology is designed to enable corporates' end users to make and receive payments, authorise invoices and initiate payments using a company mobile.
Temenos will provide Luup with a range of banking functions to complement its existing platform through a service oriented architecture. It is hoped that this will deliver the flexibility and scalability required to progress the business further globally.
Source:Banking Technology Magazine
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