400 bankers attend Temenos client forum as Temenos announces Vietnam's leading stock commercial bank selects Temenos T24
23 June 2004
400 bankers attend TEMENOS client forum as TEMENOS announces Vietnam’s leading joint stock commercial bank selects TEMENOS T24 PRAGUE,Wednesday 23rd of June 2004: At its annual client forum, TEMENOS Group AG (SWX: TEMN), a leading provider of integrated, core banking systems, today announced that it is to supply real-time banking services for Sacombank and more than 60 branches nationwide. The TEMENOS T24 solution will support Sacombank at over 60 branches nation-wide, for over 200,000 accounts, and 120,000 customers.
Sacombank selected TEMENOS following an extensive evaluation process that commenced in late 2003 involving banking solution providers such as, i-Flex, Infosys, and Korea’s IMS.
Mr. Dang Van Thanh, chairman of Sacombank says: “We chose TEMENOS T24 because it is a revolutionary banking platform that will give us real-time, end-of-day processing, built on an open architecture. We anticipate that TEMENOS T24 will provide a high degree of automation that will greatly enhance our operational efficiency and reinforce Sacombank’s reputation as the region’s premier bank, from a partner that is a proven supplier in the banking market.”
TEMENOS T24 will replace the bank’s existing legacy system called SmartBank, and provide support in several business areas including, Commercial and Retail Corporate, including General Ledger, Customer Information System, Deposit Products and Services, Credit Products and Services, Management Information System and Trade Finance.
Mark Cullinane, regional director, Asia Pacific, TEMENOS, says: “By deploying TEMENOS T24, Sacombank will have a state of the art banking solution that will support the demands of both their current and future business strategies. This is the first bank in Ho Chi Minh to implement T24, paving the way for Sacombank to become a leading bank in the region. T24 represents the new face of banking, delivering real-time, highly efficient and truly resilient non-stop services.”
With this implementation Sacombank can also explore the opportunity to expand its income streams as well as enhance its banking performance, service efficiency and executive information as one of the most successful commercial joint stocks banks in the promotion of small- and medium-sized enterprises in Vietnam and the region.
Andreas, Andreades, CEO, TEMENOS comments: “The relatively untapped Asia Pacific core processing market represents a huge growth opportunity to us. The addition of Vietnam’s leading commercial bank to our increasing customer base is proof of our solid credentials and testament to the long-term investment and business strategy. As we continue to set the industry benchmark, today’s announcement with Sacombank will help drive new customer momentum in Asia Pacific and support our ambitions for global market leadership in core banking services.”
The announcement was made on the second day of the TEMENOS client forum in Prague, which reunited over 400 worldwide bankers, key investors and industry analysts as well as business partners such as IBM, Oracle, HP, Sun and Microsoft.
-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
About Sacombank
Headquartered in Ho Chi Minh City Vietnam, Sacombank is one of the first commercial joint stock banks in Vietnam based on assets of VND 7,304 billion as at December 2003. Sacombank's network comprises 18 branches, 21 sub-branches and 32 transaction offices and one representative office. Sacombank has a nationwide presence in most of the key economic areas in the country. The bank was ranked as one of the most successful commercial joint stock banks in the promotion of small and medium-sized enterprises. Sacombank has a customer base of over 200,000. Customers will be able to access their account information and purchase financial products at any of our branches and transaction offices or through their head office. www.sacombank.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