Danish challenger bank Lunar has selected Temenos to deliver protection against fraud and enhance the digital customer experience.
Lunar will implement Temenos’ Financial Crime Mitigation (FCM) platform to mitigate a range of financial crime scenarios. By adopting Temenos FCM, the fintech hopes to meet regulatory demands while safeguarding its customers and reputation.
Morten Sønderskov, Chief Operating Officer, Lunar, said: “At Lunar, we want to change banking. To do this, we are building a Nordic bank and realising our vision of becoming a financial Super App.
“As a challenger bank it is crucial for us to be in full control and create a scalable and agile setup in the Nordics. We believe partnering with Temenos will get us ahead of the curve in financial crime prevention.
“Temenos FCM, which incorporates cutting-edge technologies like AI and machine learning, will give us the highest level of protection against financial crime. At the same time it will enable us to deliver seamless customer experiences. Running FCM in the cloud will also provide us with unparalleled agility to adapt and scale as we grow.
Lunar, founded in 2015, recently obtained its European banking licence from the Danish Financial Supervisory Authority.
It plans to extend its digital offering and customer base in the Nordics, focusing on creating a streamlined user experience.
Vital layer of protection
Steen Jensen, Managing Director – Europe, Temenos, said: “We are proud to partner with Lunar and provide a vital layer of protection against financial crime so it can deliver outstanding digital customer experiences.
“Lunar joins a family of more than 200 banks that depend upon the FCM product to deliver financial crime detection. This allows for lower review rates, seamless transactions, and lower costs.
“Temenos proudly supports the momentum of challenger banks around the world by supplying best-in-class software solutions. This rich experience provides us with a blueprint with which to support Lunar as it builds its presence in Denmark and in the Nordics.”