Swiss banking technology firm Temenos has signed an agreement to acquire hTrunk, an India-based developer of big data and analytics solutions for the banking industry.
The acquisition is expected to strengthen Temenos’ analytics product for the banking sector.
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It will see the addition of hTrunk’s comprehensive data lake product into Temenos portfolio, increasing their capabilities to ingest, blend and process structured and unstructured data in real-time.
Accordingly, it will help Temenos to deliver next-generation, analytically-driven banking applications to its clients.
Temenos noted that it also intends to integrate big data capabilities into its Temenos T24 Transact and Temenos Infinity products.
Established in 2015, hTrunk has around 30 employees and is based in India’s IT hub Bengaluru.
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By GlobalDataThe hTRUNK platform utilises Apache Hadoop for smarter data application development. The company also leverages Apache Spark as the data processing layer.
Some of its banking clients include multiple Temenos T24 Transact customers.
Last month, Temenos introduced two new banking software products combining most of the banking functionalities.
The two products were digital front office offering Temenos Infinity and Temenos T24 Transact, the company’s latest core banking product.
The two products can be deployed independently or in combination through APIs.
