Temenos in partnership with IBM win major retail corebanking deal for Mexican Bank - BANSEFI
03 December 2003
Geneva, Switzerland, 3rd of December 2003 - Today TEMENOS Group AG (SWX: TEMN), a global vendor of integrated banking software, is pleased to announce that Bansefi, a Mexican Government Bank with 570 branches with the mandate to support the transformation of more than 300 savings and loans credit unions and co-operatives, selected TEMENOS CoreBanking, TEMENOS T24 and IBM to consolidate the operational support for the Social Bank sector promoted by President Fox and Congress.
Bansefi, (National Savings and Financial Services Bank), the institution used by the Mexican government to support the savings sector also acts as a bank for the savings and loan financial institutions in a sector which is populated by many regional and national small-to-medium financial institutions. The Bank's mission is based on three pillars: firstly to promote a culture of savings; secondly to coordinate the support of the federal government in this sector and finally to offer financial services to its members. The goal of Bansefi and its associated financial institutions is to position themselves as a leading banking institution in the Mexican market. It aims to achieve this through a long term growth plan of customer and business volumes targeting the low income sectors / the unbanked population to result in over 20 million customers and three thousand branch offices within the next four years.
To achieve this, Bansefi and the World Bank Institution selected TEMENOS and IBM, from a short list, which included 12 of the top global banking solution providers. The IBM and TEMENOS partnership addresses the Bank’s requirements both functionally and technically, offering a state of the art solution within a large-scale implementation scenario for large retail banks. “This is the most significant deal in the region and establishes TEMENOS as a leading banking software provider in Latin America”, said Enrique Ramos O’Reilly, regional manager. Félix Palacio, IBM Latin America Public Sector Leader for Business Consulting Services, adds: "The IBM TEMENOS partnership will potentially be the reference business alliance in the Core solutions arena".
The Social Banking needs are very complex and challenging. As such, the bank’s key objectives are to support a multi-entity environment, to reduce and enable rapid time-to-market of new products, to reduce costs through economies of scale and achieve optimized operational efficiencies as well as to ensure a better control and management of its banking activities. Javier Gavito, general manager, Bansefi comments: “TEMENOS CoreBanking and TEMENOS T24 together with Business Consulting Services will provide us with a high-level technology solution to support our business needs and model in an efficient manner".
Andreas Andreades, CEO, TEMENOS says: "This deal confirms TEMENOS as the leading provider of CoreBanking software within large retail banks".
-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