Malta-based payment solutions provider Truevo has selected Swiss banking software provider Temenos to support the launch of a new payment line for fintech firms.

As part of the deal, Truevo will leverage Temenos Payments Hub and Financial Crime Mitigation platforms, digital banking product Temenos Infinity, and core banking solution Temenos T24 Transact.

Temenos Payments Hub is designed to provide banks with real-time control of their payments, while the Financial Crime Mitigation platform offers solutions to fight associated crime.

Temenos Infinity is a cloud native, cloud agnostic product designed to help banks in acquiring, servicing, retaining and cross-selling customers.

Truevo processes payments for businesses. The company facilitates payment transactions as well as manages card settlements, general ledger, accounting and financial crime.

The new payments line is part of Truevo’s expansion strategy focused on global fintech space. Temenos end-to-end digital products are expected to allow quick implementation of the new payment line.

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Truevo CEO and director David Liu said: “Our mission is to make simple, intuitive and user-friendly payment products that allow our customers to receive payments effortlessly, so they can focus on growing their businesses.

“These products will provide us with the speed and flexibility to future-proof our business as we launch the next phase in our global expansion – partnering with fintechs to achieve our goal of reaching one million business clients.”

Temenos managing director of Europe Steen Jensen said: “Our cloud-agnostic, cloud-native technology dramatically reduces the cost of deploying our software, providing financial institutions such as Truevo with greater agility and accelerated speed of innovation.”