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APIs · head to head

Temenos Transact vs Tyk

Temenos Transact logo

Temenos Transact

APIs

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

From
On request
Rated
-
Full reviewWebsite
Tyk logo

Tyk

APIs

Open-source API gateway and API management platform

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only Tyk has a free tier, so it costs nothing to try first.
  • Each has a real cost: 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.; Tyk professional and Enterprise plan pricing not published; contact required
  • They diverge on capability: Temenos Transact covers Country model banks, Tyk covers API Gateway.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

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

Attributes where Temenos Transact and Tyk differ
AttributeTemenos TransactTyk
Starting priceOn requestFree
Pricing modelquotefreemium
Free tierNoYes
PlatformsWeb, Linux, Windows, REST APILinux, Docker, Kubernetes, Cloud
FoundedUnknown2013

Identical on both: 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 Temenos Transact

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

Only in Tyk

  • API Gateway
  • Rate Limiting
  • Authentication
  • Kubernetes
  • Docker
  • AWS
  • Azure
  • Linux support

What people use each for

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

Temenos Transact

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

Tyk

  • API gateway and API management platformsnot Temenos Transact
  • Microservices architecture orchestrationnot Temenos Transact
  • High-growth teams standardizing on API platformsnot Temenos Transact
  • Enterprises requiring advanced security and governancenot Temenos Transact

Where each one falls short

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

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.

Tyk

  • Professional and Enterprise plan pricing not published; contact required
  • Core plan uses consumption-based model with variable costs
  • No upfront pricing transparency for production deployments

Pricing, plan by plan

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

Tyk

Free
  • Free TrialFree
    • Fully featured 48-hour trial
    • No credit card required
    • Tyk Cloud access
  • Core Plan$null/month
    • Usage-based flexible pricing
    • Cloud, Hybrid, or Self-managed deployment
    • Unlimited API gateways
  • Professional Plan$null/month
    • One fixed price with unlimited access
    • All deployment options
    • Unlimited APIs and requests
  • Enterprise Plan$null/month
    • Custom pricing required
    • Advanced governance and security
    • Premium support with custom SLAs

Which should you pick?

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

Choose Tyk if

  • You need api gateway.
  • You want to start without paying.
  • You work on Linux, Docker, Kubernetes, Cloud.
  • You also want rate limiting.
Tyk review

Questions people ask

Is Temenos Transact or Tyk better?
Neither clearly leads. Temenos Transact starts at On request and Tyk at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Temenos Transact or Tyk?
Tyk has a free tier; the other does not. Paid plans start at On request for Temenos Transact and Free for Tyk.
Does Temenos Transact or Tyk run on more platforms?
Temenos Transact runs on Web, Linux, Windows, REST API. Tyk runs on Linux, Docker, Kubernetes, Cloud.
Can I use Tyk for free?
Yes. Tyk has a free tier, so you can try it without paying. Temenos Transact starts at On request.
What is Temenos Transact best used for?
Temenos Transact is most often used for a bank in an emerging market needing local regulatory compliance without building it from scratch, an institution running islamic banking products alongside conventional ones on one core, a bank that needs a large pool of experienced implementation consultants to de-risk a migration, a group standardising subsidiaries in several countries onto one core banking system. Of those, a bank in an emerging market needing local regulatory compliance without building it from scratch and an institution running islamic banking products alongside conventional ones on one core are not what Tyk is typically brought in for.
What can Temenos Transact do that Tyk cannot?
Temenos Transact covers Country model banks, Multi-product core, Payments processing, API layer. Tyk covers API Gateway, Rate Limiting, Authentication, Kubernetes.

Answered from the vendors’ own pages

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.

Tyk: How much does Tyk cost?

Tyk offers a free 48-hour trial with no credit card required. The Core plan uses usage-based pricing on a flexible model. Professional plan offers unlimited access at a fixed price (amount not published). Enterprise plans require custom pricing.

Source
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.

Tyk: Is there a free trial of Tyk?

Yes, Tyk provides a fully featured 48-hour free trial of Tyk Cloud that requires no credit card to start.

Source
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.

Tyk: What deployment options are included in Tyk pricing?

All Tyk plans support Cloud, Hybrid, or Self-managed deployment options without feature restrictions, allowing flexible infrastructure choices across pricing tiers.

Source
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