Saudi Hollandi Bank selects Temenos Application Management to support TEMENOS T24™

03 July 2007

GENEVA, Switzerland – 03 July 2007 – Temenos Group (SWX: TEMN), the provider of integrated core banking systems, today announced that Saudi Hollandi Bank, an established universal bank in Saudi Arabia, has chosen Temenos Application Management (TAM) for the delivery of support and bespoke development services for Temenos T24 (T24) which it has operated across its branch network since November 2005.

Marc van der Kammen, CIO, Saudi Hollandi Bank, says: “We run T24 across our entire retail, corporate, treasury and brokerage operations, so we’re in constant need of minor developments to support our business as well as further improve performance. Also, we need support for the local developments to tailor T24 to our specific requirements, all of which demands the availability of sufficient resources. We selected the TAM offering as it provides rapid and cost-effective constant access to the staff and knowledge to make this happen, as well for its quality assurance abilities”

Saudi Hollandi Bank went live with T24 in November 2005 to replace the Misys Bankmaster retail banking system and over 100 satellite applications, reducing the number of applications down to seven. The system has enabled the bank to simplify its operations, integrate its customer and transaction data, and provides it with a platform for further growth. The bank contracted local consultants to assist in the provision of first-level support and enlisted Temenos consultants in the areas of Internet banking and ATM interfaces, but required additional resources to accommodate its ongoing development needs. It selected TAM in February 2007 and with 10 dedicated Temenos staff working both on- and off-site, it is now fully operational with the offering.

The open architecture of T24 makes it easy for Temenos customers to develop their own code and create additional functionality, working seamlessly with the product. TAM gives customers access to a dedicated T24 development team and assumes maintenance responsibility for TAM-developed code. The TAM team is based in Chennai, India, giving customers local development at offshore rates and espoke code that is quality controlled and maintained to the same standard as the T24 core system.

T24 is a functionally rich, thin client, scalable, integrated, modular banking system. It is built on an open system principles 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 nonstop resilience. Its fully-integrated architecture enables it to offer a significant cost advantage compared to other competing products. It offers multiple application server support and is the only system available with no end-of-day batch processing and so can genuinely boast of providing realtime 24/7 non-stop banking.

Andreas Andreades, CEO, Temenos, says, “Software represents only part of the overall solution in terms of running effective core systems. We recognise the importance of providing customers with high-quality professional services to future-proof their implementations and protect their investments, and Saudi Hollandi Bank’s selection of TAM is an important endorsement of our capabilities in this area.”

Temenos has an international client-base of over 580 financial institutions and continues to attract global tier 1 and regional banks as a result of its superior products, T24 and Temenos™ CoreBanking.

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About Saudi Hollandi Bank
Founded in 1926, Saudi Hollandi Bank is one of the leading banks in Saudi Arabia operating 41 branches and 167 ATMs distributed over the Kingdom. SHB is listed on the Saudi Stock Exchange and has more than 1,500 employees of which 82% are Saudi nationals. The Dutch bank ABN AMRO owns 40% of its stock with the remainder being owned by Saudi investors.  

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