Temenos, a banking software developer, won a U.S. tech giant as its new client. The company will use the Temenos platform for its offering worldwide.
Paypal signed a contract with Temenos, the Geneva-based firm said on Friday. The U.S. payment services provider will use the T24 Core Banking solution, it added.
Temenos will provide its solution for Paypal via the Temenos Cloud and Paypal will use the T24 software in countries including the U.S., Germany and Australia.
The contract with Paypal is a significant step for the Swiss company in its bid to expand in the U.S. Temenos last week announced it would buy U.S. software rival Avoka and today confirmed that this transaction had been closed.
