Honda Bank GmbH selects TEMENOS T24 to integrate its loan operations

GENEVA, Switzerland – 26 August 2008 –  Temenos Group (SWX: TEMN), the provider of integrated core banking systems, today announced that Honda Bank GmbH, has selected TEMENOS T24 (T24) to replace its entire lending operations infrastructure with one centralised system. T24 will provide a front-to-back office core banking platform to support the bank’s finance loan service to retail customers while also offering front office capabilities to support the bank’s wholesale finance operations.

Honda Bank needed to integrate its existing loan operations, which consisted of four disparate systems. It required a flexible system that would merge its fragmented infrastructure with minimum disruption to the business. The bank opted for T24 German Model Bank over national and international competitor solutions, on the strength of its pre-configured products and best practice processes to support its forecasted product and business volume growths. T24 will streamline Honda Bank’s processes and improve efficiency, while significantly reducing its total cost of ownership.

The bank also chose TEMENOS ARC Internet Banking (ARC-IB), and the T24 Arrangement Architecture Module. Together these will help grow the bank and its competitive position in the market by delivering improved customer centricity into its business model, offering increasingly tailored services and products to customers, quickly and efficiently. The multi-channel support offered by T24 ARC IB will provide the bank with a modern, online front office solution with a single customer view, enabling them to offer the most personalised and efficient finance services possible. T24 will cover the retail loan process, from financial contract to the dealership including application processing to automated direct debits and collection processes.

The deal was signed in June 2008 following a twelve month evaluation process.  It will be a phased implementation, with the ARC IB functionality expected to go live in February 2009, followed by the remaining roll out of T24 due in October 2009 and will run on an IBM operating system. A joint implementation team is managing the roll out of the T24 Model Bank. The bank is also using Temenos Application Management (TAM) services.

Andreas Andreades, CEO of Temenos, comments: “Honda Bank is an important win for Temenos as it signifies our continued growth in the German market and the flexibility and ease of deployment of our T24 Model Bank in other sectors like automotive finance, as well as in mainstream banking operations. The bank’s choice to replace four of its existing systems with T24 proves our ability to significantly reduce infrastructure and maintenance costs, whilst enabling fast time to market with new products and improved customer intimacy.”

T24 is a functionally rich, scalable, and proven integrated banking system. It is delivered as a pre-configured Model Bank solution that incorporates industry best-practice, enabling fast and predictable implementations and immediate, measurable benefits. Temenos’ Model Bank approach allows a fast ROI and a highly flexible and responsive approach to banking ensuring maximum business agility based on T24’s flexible features. T24 offers integrated and comprehensive information on the institution at all times including a single customer view, and a single view of the enterprise including risk and profitability.

T24 incorporates modern technology including a comprehensive Service Orientated Architecture (SOA), fully enabled for standard, SOAP (Simple Object Access Protocol) web services, and BPEL process execution and compliant with industry leading ESBs (Enterprise Service Buses). T24 can be deployed on fully scalable, multi-server n-tier architecture. It provides a full front-to-back solution from electronic delivery channels such as mobile devices and internet banking right through to settlement, general ledger and other back office functions all in a fully integrated, reliable and cost effective environment. Temenos’ total commitment to open standards enables its customers to benefit from the latest advances in technology ensuring business agility, continuity, data integrity and reduced downtime delivering a significant, immediate and ongoing return on investment.

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About Temenos

Founded in 1993 and listed on the Swiss Stock Exchange (SWX: TEMN), Temenos Group AG is a global provider of banking software systems in the Retail, Corporate & Correspondent, Universal, Private, Islamic and Microfinance & Community banking markets. Headquartered in Geneva with 44 offices worldwide, Temenos serves over 600 customers in more than 120 countries.  

Temenos’ software products provide advanced technology and rich functionality, incorporating best practice processes that leverage Temenos’ experience in over 600 implementations around the globe.  

Temenos’ advanced and automated implementation approach, provided by its strong Client Services organisation, ensures efficient and low-risk core banking platform migrations. Temenos annually invests around 20% in R&D, significantly more than its peers, into a single fully packaged upgradeable software release, which ensures all Temenos customers benefit from modern technology and support indefinitely. 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

Petra Shuttlewood
Temenos PR Manager
Tel: +44 (0) 207 423 3751
Email: pshuttlewood@temenos.com

Evelina Amanatidou / Sole Chirco
Team 660
Metia for TEMENOS
Tel: +44 (0) 20 3100 3592/3718
 Email: evelina@metia.com / sole.chirco@metia.com