Validata, a leading provider in AI-driven reconciliation and data management tools, has partnered with Temenos, a banking software developer.
The partnership between Validata and Temenos is driven by the need to enhance the efficiency and accuracy of financial and data reconciliations in banking. By extending their collaboration, they aim to integrate advanced AI capabilities into Temenos’ banking software, helping financial institutions manage complex reconciliation processes more effectively.
Validata offers a range of technology solutions, primarily focused on AI-powered reconciliation tools. Their flagship product, ConnectIQ, is a cloud-native, no-code data enablement platform that facilitates seamless financial operations through intelligent matching, exception management, and continuous reconciliations. ConnectIQ is celebrated for its ability to integrate advanced data management and security features, ensuring compliance and efficient data governance.
The partnership leverages the strengths of both companies to offer a next-generation solution for Cash and Nostro reconciliation. This solution includes payment investigations, case management, and the support of the new ISO 20022 standard, facilitating smoother transactions across different payment frameworks.
Adam Gable, senior product director at Temenos, said, “Temenos and Validata have been working together for many years and it is exciting to see Validata continue to innovate solutions that bring additional value to our platform. With this solution, Validata helps banks with reconciliation, and supports them to stay up to date with modern industry standards.”
Vaios Vaitsis, founder & CEO at Validata, said, “We are pleased to extend our collaboration with Temenos to provide clients with MX reconciliation capabilities. Validata is fintech for fintechs supporting modern banking and payment rails. In today’s rapidly evolving payments landscape, speed, accuracy, and transparency are essential.
“One of the key considerations for effective reconciliations and investigations is the need for a strong data management platform and strategy. By adding AI to the reconciliations mix, Validata can greatly speed up the process, reduce operational costs, and increase efficiencies. We are dedicated to providing innovative solutions that enable financial institutions to seamlessly adapt to ISO 20022.”
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