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APIs · head to head

Griffin vs Temenos Transact

Griffin logo

Griffin

APIs

UK banking-as-a-service from a company that holds its own full banking licence

From
£100/month
Rated
-
Full reviewWebsite
Temenos Transact logo

Temenos Transact

APIs

Established core banking system used by banks in over a hundred countries

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Griffin platform banking carries a one-off onboarding fee from 15,000 pounds and a 3,500 pound monthly minimum, which prices out early-stage companies entirely.; Temenos Transact the codebase originates in the 1990s, so banks on older releases face major upgrade programmes to reach current versions, and many defer them for years.
  • They diverge on capability: Griffin covers Bank accounts by API, Temenos Transact covers Country model banks.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Griffin and Temenos Transact actually diverge.

Attributes where Griffin and Temenos Transact differ
AttributeGriffinTemenos Transact
Starting price£100/monthOn request
Pricing modelPer month with usage drawdownquote
PlatformsWeb, REST APIWeb, Linux, Windows, REST API

Identical on both: free tier (No), user rating (Not yet rated), category (APIs).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Griffin

  • Bank accounts by API
  • UK payment rails
  • Integrated ledger
  • Automated onboarding
  • Debit cards
  • Interest on balances

Only in Temenos Transact

  • Country model banks
  • Multi-product core
  • Payments processing
  • API layer
  • Cloud deployment
  • Accounting engine

What people use each for

The jobs each tool is most often brought in to do.

Griffin

  • A wealth platform that must hold client money in a licensed bank rather than an EMI safeguarding accountnot Temenos Transact
  • A lender wanting UK accounts and payment rails without becoming a bank itselfnot Temenos Transact
  • A fintech burned by sponsor bank instability that wants the deposit holder and the API provider to be the same entitynot Temenos Transact
  • A platform needing sub-account ledgering for pooled client funds with a clean audit trailnot Temenos Transact

Temenos Transact

  • A bank in an emerging market needing local regulatory compliance without building it from scratchnot Griffin
  • An institution running Islamic banking products alongside conventional ones on one corenot Griffin
  • A bank that needs a large pool of experienced implementation consultants to de-risk a migrationnot Griffin
  • A group standardising subsidiaries in several countries onto one core banking systemnot Griffin

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Griffin

  • Platform banking carries a one-off onboarding fee from 15,000 pounds and a 3,500 pound monthly minimum, which prices out early-stage companies entirely.
  • It is UK-only, so a business with European or US operations needs a second banking provider and a second integration for those entities.
  • It is a young bank with a small balance sheet relative to incumbents, and enterprise counterparties still ask hard questions about concentration risk.
  • Holding a banking licence means Griffin applies bank-grade due diligence to its own clients, so onboarding is slower and more selective than an EMI-based provider.
  • Feature breadth is narrower than long-established providers, particularly in card programme management and in payment types beyond core UK rails.

Temenos Transact

  • The codebase originates in the 1990s, so banks on older releases face major upgrade programmes to reach current versions, and many defer them for years.
  • Total cost is dominated by implementation partner fees rather than licence, and those programmes routinely overrun their original estimates.
  • Product changes that cloud-native cores treat as configuration can require development work and a release cycle, which slows time to market for new products.
  • Heavy customisation is common and it makes every subsequent upgrade harder, creating a compounding cost that banks feel a decade after go-live.
  • Temenos has repeatedly restructured its product line and naming, so buyers must check carefully which components a proposal actually includes and which are separately licensed.

Pricing, plan by plan

Griffin

£100/month
  • Business Banking$100/month
    • From 100 pounds per month
    • Interest or commission from around 1.75 percent AER variable
    • Operational accounts and UK payment rails
  • Platform Banking$3500/month
    • One-off onboarding fee from 15,000 pounds
    • Minimum monthly spend of 3,500 pounds, drawn down by usage
    • Higher committed tiers at 5,000 and 10,000 pounds with discounts
  • Enterprise$undefined/month
    • Custom pricing
    • Bespoke account structures and volumes
    • Negotiated interest or commission share

Temenos Transact

On request
  • Temenos Transact$undefined/year
    • Perpetual or subscription licence scaled by assets, accounts or users
    • Annual maintenance typically a percentage of licence value
    • Implementation delivered by partners and charged separately

Which should you pick?

Choose Griffin if

  • You need bank accounts by api.
  • You work on Web, REST API.
  • You also want uk payment rails.
Griffin review

Choose Temenos Transact if

  • You need country model banks.
  • You work on Web, Linux, Windows, REST API.
  • You also want multi-product core.
Temenos Transact review

Questions people ask

Is Griffin or Temenos Transact better?
Neither clearly leads. Griffin starts at £100/month and Temenos Transact at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Griffin or Temenos Transact?
Griffin starts at £100/month and Temenos Transact at On request.
Does Griffin or Temenos Transact run on more platforms?
Griffin runs on Web, REST API. Temenos Transact runs on Web, Linux, Windows, REST API.
What is Griffin best used for?
Griffin is most often used for a wealth platform that must hold client money in a licensed bank rather than an emi safeguarding account, a lender wanting uk accounts and payment rails without becoming a bank itself, a fintech burned by sponsor bank instability that wants the deposit holder and the api provider to be the same entity, a platform needing sub-account ledgering for pooled client funds with a clean audit trail. Of those, a wealth platform that must hold client money in a licensed bank rather than an emi safeguarding account and a lender wanting uk accounts and payment rails without becoming a bank itself are not what Temenos Transact is typically brought in for.
What can Griffin do that Temenos Transact cannot?
Griffin covers Bank accounts by API, UK payment rails, Integrated ledger, Automated onboarding. Temenos Transact covers Country model banks, Multi-product core, Payments processing, API layer.

Answered from the vendors’ own pages

Griffin: Is Griffin actually a bank?

Yes. It received a UK banking licence with restrictions in March 2023 and a full licence in March 2024 after exiting mobilisation.

Temenos Transact: Is Transact the same as T24?

Yes. T24 was renamed Temenos Transact; older installations and much of the consultant population still use the T24 name.

Griffin: What does it cost?

Business banking from 100 pounds a month; platform banking from a 15,000 pound onboarding fee plus a 3,500 pound monthly minimum drawn down by usage.

Temenos Transact: Can it run in the cloud?

Yes, it is offered on public cloud, though many existing installations remain on-premises and moving them is a project.

Griffin: Does it cover Europe?

No. Griffin is a UK bank serving UK accounts and UK payment rails.

Temenos Transact: What drives the cost?

Licence scaled by size, annual maintenance as a percentage of licence, and implementation partner fees that usually exceed the software cost.

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