Successful Implementation through challenging times

13 October 2003

Today TEMENOS (SWX: TEMN), a global vendor of integrated banking software, is pleased to announce that Meespierson Reads, has successfully implemented TEMENOS GLOBUS™. For a bank to replace all its core business systems is a challenge in itself. However, when it goes on to merge with another company three months prior to ‘go-live’, a whole new dimension is added to the project! This was the situation facing Graham Thoume, operations director for MeesPierson Guernsey, as was, or MeesPierson Reads, as is now, during the recent TEMENOS
GLOBUS™ implementation.

Prior to the implementation of TEMENOS GLOBUS™, the bank was using an AS/400-based system called Databank from Milvus. This had been heavily customised for MeesPierson. ‘The main reason for evaluating systems again was to improve the automation of the back-office’, says Mr Thoume. ‘Many things which should have been automated were having to be done manually – as in the area of client settlement instructions for example. It was also very difficult to get data out of the system and SWIFT-related functionality was poor.’ As a result of the inadequacies of the system, many staff had to be deployed to manually ‘fill the gaps’.

The implementation of TEMENOS GLOBUS™ delivered on the expectations of both sides – on time and to budget. Graham Thoume’s experience of four previous system implementations must have been a key factor. He cites the following reasons. ‘The difficult part of implementing any new system is the analysis phase when you are trying to identify exactly what the bank needs. The TEMENOS consultant who helped us with this was spot-on. The people involved in the project were excellent, the work on the budget was good and the planning was good too.’

The principal benefit of the implementation of TEMENOS GLOBUS™ has been a considerable saving in the number of people required to manually carry out back- office tasks, since these have now been automated. The bank has also seen a complete restructuring of work-flows, with the physical movement of people and departments, resulting in a more efficient operation.

As part of the ROI analysis performed prior to the purchase of the system, Mr Thoume calculated that TEMENOS GLOBUS™ would pay for its own depreciation in the savings it made for the bank.

-ENDS-

About Temenos
Founded in 1993, Temenos Group AG is a provider of integrated modular core banking systems to over 590 financial institutions in 110 countries worldwide. Temenos software provides banks with a single, real-time view of the client across the enterprise, enabling banks to maximize returns while streamlining costs. Whether providing 24/7 functionality to the wholesale, retail and private or universal banking sectors, partnering with central banks on core system replacement, or working with the World Bank on solutions for the emerging markets, Temenos knows banking. The company has a transparent approach to its operations and brings to bear its experience, expertise, commitment and professionalism on every project. Headquartered in Geneva, Switzerland, the company has 43 offices in 33 countries and is listed on the main segment of the SWX Swiss Exchange (TEMN). For more information please visit www.temenos.com

For more information, contact:

Max Chuard
Temenos Director
Corporate Finance & IR
Member of the Executive Board
Tel: +41 (0) 22 708 1157
Email: mchuard@temenos.com

Ben Robinson
Temenos Investor Relations Manager
Tel: +44 (0) 207 290 3012
Email: brobinson@temenos.com

Bianca Morgan
Temenos PR Manager
Tel: +44 (0) 207 423 3751
Email: bmorgan@temenos.com

Chris Patmore
Team 660
Metia for TEMENOS
Tel: +44 (0) 20 3100 3596
Email: chris.patmore@metia.com