Temenos T24 is the world's largest banking software - built for commercial banks with $1M-20M+ implementation budgets and 18-36 month timelines. Kovara is built for MFIs, SACCOs, and cooperatives that need to go live in hours, not years.
Implementation cost
$149/month
vs $1M-20M+
Deploy time
Hours
vs 18-36 months
Tech stack
Rails + Postgres
vs Proprietary jBC
Designed for
MFIs and SACCOs
vs Large banks
Overview
Temenos T24 (now Temenos Transact) is the world's most widely deployed core banking system, used by 3,000+ banks in 150 countries. It is an enterprise-grade platform built for large commercial and retail banks with deep compliance, multi-currency, and multi-entity capabilities. However, it runs on a proprietary jBC scripting language and custom database, requires specialized Temenos consultants to implement and maintain, and has no native MFI or group lending features. Implementation typically starts at $1M and can exceed $20M.
Feature by feature
|
◆ Kovara
|
Temenos / T24
|
|
|---|---|---|
| Flat monthly pricing - no license or consulting fees | ||
| Deploy in hours, not months or years | ||
| Self-hosted on your own infrastructure | ||
| Modern open tech stack (Rails, PostgreSQL) | ||
| Standard data format - easy to migrate or export | ||
| Group and solidarity lending - native MFI features | ||
| Mobile money - M-Pesa, MTN MoMo, Airtel Money | ||
| AI credit scoring for thin-file clients | ||
| No proprietary language lock-in | ||
| No implementation partner required to go live | ||
| Suitable for small and growing MFIs | ||
| Modern web UI included out of the box |
Why Kovara wins
Skip the 36-month implementation. Get Kovara running on your server today. $149/month flat - no surprises.