Evaluating Temenos T24 or Transact? Don’t pay a global bank’s license and integrators. Fiter gives you a complete core at your scale.
With Temenos T24Temenos T24 (later Transact, now Temenos Core) is built for the largest banks in the world. A mid-sized institution ends up paying license and maintenance for a scale it doesn’t need.
With FiterA complete core (accounts, loans, accounting, reporting) sized to your operation.
With Temenos T24Implementing and changing a large-scale core usually requires certified integrators and high-cost specialists, during the project and after it.
With FiterOne Fiter team runs your project end to end and supports you afterwards.
With Temenos T24Every customization on closed code ties you closer to the vendor. Years later, switching cores is a project in itself.
With FiterOpen source: what you build is yours and stays with you.
The criteria that decide what your core costs today, what it will cost five years from now and what it would cost to leave.
| Criterion | Fiter (Apache Fineract) | Temenos T24 |
|---|---|---|
| License model and cost | Fiter advantage: Zero license fees. Apache 2.0: no charge per account, per customer or per transaction. Your portfolio grows and your core cost stays put. | Proprietary license and annual maintenance, with a cost structure designed for large-scale banks. |
| Open source or proprietary | Fiter advantage: Open source. Your team, your auditors and your regulator can review every line that processes your portfolio. | Closed source. Your team can’t see or audit what processes your portfolio. |
| Deployment options | Fiter advantage: Wherever you decide: AWS, Azure, GCP, local cloud or on-premise. You meet your regulator’s requirements without asking anyone’s permission. | On-premise, cloud or Temenos SaaS: always under Temenos license and terms. |
| Data ownership and portability | Fiter advantage: Your data, in your database, on your infrastructure. Query it, export it and back it up whenever you want. | Your data is tied to a proprietary model only the vendor fully knows. |
| Vendor lock-in and exit cost | Fiter advantage: Zero lock-in. The code is yours forever: you can switch service providers without switching cores. | Years of customizations on closed code: the more you invest, the more expensive the exit. |
| Product customization | Fiter advantage: No ceiling. Individual and group lending, microfinance, savings and Islamic finance (Murabaha) on the same core, built around your portfolio. | Broad, but through certified integrators and high-cost specialists. |
| Support model | Fiter advantage: Direct access to the team that implemented your core, with 24/7 support tiers available. Not an anonymous global help desk. | Swiss vendor with a global partner network: support often reaches you through layers of integrators. |
| Community and roadmap | Fiter advantage: Apache Software Foundation, with Fiter on the PMC: we vote on where the product goes. No acquirer can change its direction. | Roadmap set by Temenos for its portfolio of large global banks. |
| Typical time to go live | Fiter advantage: 8 to 16 weeks depending on scope, with a parallel run and no disruption to your operation. | Large-scale core programs are often measured in years, with integrators at every stage. |
Apache 2.0 means zero license fees: you don’t pay per account or per transaction. With a subscription or licensed core, every new customer adds to the bill. With Fiter, growth doesn’t cost you more.
Fiter has members on the Apache Fineract PMC. When your portfolio needs something the core doesn’t do, we don’t open a ticket with a third party: we propose it, vote on it and build it.
Banks, fintechs, credit unions and microfinance institutions already run on Apache Fineract with Fiter, including Islamic finance (Murabaha). If your product isn’t standard, we configure it on the same core.
Migrating from Temenos T24 or Transact to Apache Fineract with Fiter is a project at your scale, not a global bank’s: we review the products your portfolio actually uses (not the whole catalog of your current core), configure them in Fineract and map accounts, loans and chart of accounts. We load the portfolio, run both systems in parallel with daily reconciliation and cut over at a month-end close. No external integrators and no license to renew when it’s done.
Total timeline8 to 16 weeks, depending on project scope
We review your portfolio, products, integrations (channels, payments, credit bureau, regulator) and reports. You get a fixed scope at a fixed price.
Every loan and savings product is configured in Fineract and every field in your current system is mapped to the new model. Your operations and accounting teams sign it off.
We load your portfolio and run both systems side by side with daily reconciliation of balances, interest and journal entries. Nothing is switched off until the numbers match.
Cutover at a month-end close with verified accounting, user training and hands-on support from our team during the first weeks.
We show you Apache Fineract with a case like yours, and you leave with what you need to decide: total cost with no license, a migration plan and who supports you.
Book a side-by-side demoTrademarks mentioned belong to their respective owners. Public information reviewed in November 2026.