Votorantim Bank goes live with TEMENOS T24 Model Bank in just seven months

15 July 2008

GENEVA, Switzerland, 15 July 2008 - Temenos Group (SWX: TEMN), the provider of integrated core banking systems, today announced that Votorantim Bank, a rapidly growing financial institution based in Brazil, has gone live with TEMENOS T24 (T24) to support its international wealth management operations. The bank went live in March 2008 and it represents Temenos’ first client in Brazil. Votorantim employed Temenos Professional Services including Temenos Application Management and jointly delivered a complete international wealth management system in just seven months.

T24 Model Bank for Private Wealth Management includes pre-configured products and processes based on banking best practices and provides the bank with a single proven application to support front and back office activity. In addition, the system includes a web interface and integrates with SWIFT, Bloomberg market data feeds and the bank’s OFAC applications. With T24, the bank plans to support its international treasury, asset management, private and lending (cars and mortgages) operations. 

Reinaldo Lacerda, Wealth Management and Product Director, Votorantim Bank, says: “With T24 supporting our business, we have the front-end capabilities, modular integration, asset management support and the scalability we need. We can now expand our customer base without expanding our costs or operational risk. We will also take advantage of the improved workflows and rapid deployment of new products enabled by T24 to help increase our competitive advantage and market share.”

After a rigorous selection process that lasted over a year, the bank chose Temenos over its competitors i-Flex and Olympic and signed the deal in May 2007. T24 is deployed over Intel servers with an Oracle database.

Andreas Andreades, CEO of Temenos, adds: "This implementation represents not only the relevance of T24 to the local market, but also our ability to deliver a full, front-to-back wealth management system in just seven months. This demonstrates how T24 can help banks maximise limited resources to beneficial effect. I am confident that this project will help us establish a significant presence in the Brazilian market as well as a long-standing relationship with Votorantim Bank.”

TEMENOS 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.

-ENDS-

About Votorantim Bank

Located in Nassau (Bahamas), Votorantim Bank Limited is the international arm of Banco Votorantim, allowing Brazilian clients to invest in the offshore market. Founded in 1988 as a broker-dealer, Banco Votorantim is part of the Votorantim Group and is one of the top ten banks in Brazil.  Its total assets reached R$ 66.4 billion in 2007. Clients include 600 of the leading domestic and international corporations in Brazil, institutional investors and high net worth individuals. Banco Votorantim’s core business activities are corporate banking, capital markets, treasury, international finance, and asset management through Votorantim Asset Management (VAM). It also offers consumer finance through BV Financeira, leasing through BV Leasing, and brokerage through Votorantim Corretora de Títulos e Valores Mobiliários. Head office is in São Paulo, Banco Votorantim has offices in Rio de Janeiro, Porto Alegre, Curitiba, Campinas and Nassau (Bahamas), as well as a representative office in London. For more information please visit: www.bancovotorantim.com.br

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

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