Anglo Irish Bank goes live with TEMENOS T24™ to support growth strategy
11 December 2006
GENEVA, Switzerland – 11 December 2006 - TEMENOS Group (SWX: TEMN), the provider of integrated core banking systems, today announced that Anglo Irish Bank, Ireland’s third largest bank, went live with TEMENOS T24 to replace legacy systems across its UK offices. TEMENOS T24, the company’s modular core banking system, has the flexibility to adapt to the demands of Anglo’s ambitious growth strategies. In addition, the bank now has increased flexibility to adapt to changing market requirements and introduce new products to market.
Aidan McClean, project director, Anglo Irish Bank, says: “We’re one of the fastest growing banks in Europe, so we need robust and resilient technology to aid this continual expansion. We had to constantly invest development time in our legacy system to ensure it met our demands, but with TEMENOS T24 we now have a single integrated solution with a built-in upgrade path. As such, it can underpin our business today and gives us the option of deploying the technology across other regions and business areas in the future.”
Anglo Irish Bank began searching for a replacement for its original legacy system in late 2003. It considered various third party providers as well as the possibility of continuing with its in-house system, before signing the deal with TEMENOS.
TEMENOS installed core TEMENOS T24 functionality, including corporate and commercial banking modules to support niche business lending, on IBM pSeries servers. Having successfully completed the UK implementation, the bank now plans to roll the technology out across its Irish operations.
TEMENOS T24 is a functionally rich, thin client, scalable, integrated, modular banking system. It is built on open service oriented architecture, and uses established technology standards such as HTTP, XML and HTML. It offers a single client view across the enterprise and can support large numbers of users with true non-stop resilience. Its fully-integrated architecture enables it to offer a significant cost advantage compared to other competing products.
Andreas Andreades, CEO, TEMENOS, adds: “Today, core system replacement is one of the top priorities for CIOs of large institutions, driven by the inadequacy of current systems to provide a platform for growth. Anglo Irish Bank is a prime example of the increasing number of banks that are implementing modern technology to upgrade. With TEMENOS T24, it now has a distinct competitive advantage when competing in today’s modern banking world.”
TEMENOS has an international client-base of over 500 financial institutions and continues to attract global tier 1 and regional banks as a result of its superior products, TEMENOS T24 and TEMENOS™ COREBANKING...
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About Anglo Irish Bank
Anglo Irish Bank is Ireland's third largest bank and the fourth largest company listed on the Irish Stock Exchange. The Bank operates in three core areas - business lending, treasury and wealth management. The Bank's long established reputation is built on successful long-term relationships, service quality and certainty of deal execution, a business model which has been the foundation for their sustained market leading performance .
Anglo Irish Bank is headquartered in Dublin and has a network of offices across Ireland, the UK, and the United States. In Europe, the group has representative offices in Geneva, Vienna, Portugal, and the Isle of Man, offering a variety of financing, wealth management and treasury options. www.angloirishbank.com
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