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APIs · head to head

Neonomics vs Temenos Transact

Neonomics logo

Neonomics

APIs

Nordic open banking payments and data, now with UK coverage through Ordo

From
On request
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: Neonomics coverage outside the Nordics and the UK is comparatively shallow, so a pan European merchant will find gaps and inconsistent bank behaviour in southern and eastern markets.; 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: Neonomics covers Payment initiation, 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 Neonomics and Temenos Transact actually diverge.

Attributes where Neonomics and Temenos Transact differ
AttributeNeonomicsTemenos Transact
PlatformsWeb, APIWeb, Linux, Windows, REST API

Identical on both: starting price (On request), pricing model (quote), 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 Neonomics

  • Payment initiation
  • Account information
  • Nordic bank depth
  • UK coverage via Ordo
  • Variable recurring payments
  • Request to pay
  • White label journeys
  • Reconciliation data

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.

Neonomics

  • A Norwegian or Swedish merchant collecting payments directly from bank accounts to avoid card feesnot Temenos Transact
  • A debt collection agency sending request to pay messages instead of chasing bank transfers manuallynot Temenos Transact
  • A software vendor embedding pay by bank into an accounting or invoicing product for Nordic customersnot Temenos Transact
  • A business needing both UK and Nordic bank payment coverage from one suppliernot Temenos Transact

Temenos Transact

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

Where each one falls short

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

Neonomics

  • Coverage outside the Nordics and the UK is comparatively shallow, so a pan European merchant will find gaps and inconsistent bank behaviour in southern and eastern markets.
  • It is a small company relative to Tink and TrueLayer, so supplier viability and the depth of engineering support behind bank API changes are genuine procurement questions.
  • Payment initiation only means the merchant handles settlement, reconciliation and refunds, and there is no chargeback framework to fall back on.
  • Integrating a recently acquired UK business means two regulatory entities and, for a period, two technology stacks, so cross market feature parity is a promise rather than an existing state.
  • Conversion is governed by each bank's own authentication experience, and Nordic BankID flows behave differently from UK app redirects, so a single UX cannot be assumed across the footprint.

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

Neonomics

On request
  • Neonomics platform$undefined/year
    • Quoted per customer, typically per initiated payment or per API call
    • Volume commitments and monthly minimums are common
    • Payment initiation only; merchant handles settlement and refunds

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 Neonomics if

  • You need payment initiation.
  • You work on Web, API.
  • You also want account information.
Neonomics 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 Neonomics or Temenos Transact better?
Neither clearly leads. Neonomics starts at On request and Temenos Transact at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Neonomics or Temenos Transact?
Neonomics starts at On request and Temenos Transact at On request.
Does Neonomics or Temenos Transact run on more platforms?
Neonomics runs on Web, API. Temenos Transact runs on Web, Linux, Windows, REST API.
What is Neonomics best used for?
Neonomics is most often used for a norwegian or swedish merchant collecting payments directly from bank accounts to avoid card fees, a debt collection agency sending request to pay messages instead of chasing bank transfers manually, a software vendor embedding pay by bank into an accounting or invoicing product for nordic customers, a business needing both uk and nordic bank payment coverage from one supplier. Of those, a norwegian or swedish merchant collecting payments directly from bank accounts to avoid card fees and a debt collection agency sending request to pay messages instead of chasing bank transfers manually are not what Temenos Transact is typically brought in for.
What can Neonomics do that Temenos Transact cannot?
Neonomics covers Payment initiation, Account information, Nordic bank depth, UK coverage via Ordo. Temenos Transact covers Country model banks, Multi-product core, Payments processing, API layer.

Answered from the vendors’ own pages

Neonomics: Is Neonomics authorised in the UK?

Yes, through the acquisition of Ordo, an FCA authorised open banking payments firm, approved by the FCA and the Norwegian regulator.

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.

Neonomics: Does it support variable recurring payments?

Yes in the UK through the Ordo capability, subject to which banks support commercial VRP; support elsewhere is more limited.

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.

Neonomics: Does Neonomics hold merchant funds?

No. It initiates payments; settlement, reconciliation and refunds remain with the merchant or its payment provider.

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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