Major Wall Street Investment Bank selects TEMENOS T24 Model Bank to support Asia Pacific operations
29 July 2009
GENEVA, Switzerland 29th July, 2009 – Temenos (SWX: TEMN), the global provider of integrated core banking systems, today announced that a major Wall Street Investment Bank has selected TEMENOS T24 (T24) to support its banking operations in the Asia Pacific region and Europe, as part of its banking business growth strategy.
A leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services, the Bank is currently undertaking a strategic initiative to build new bank deposits, by extending its existing business and introducing new bank products, such as new savings account products and global currency accounts.
As a functionally rich core banking platform, T24 Model Bank will provide the Bank with the powerful product definition capabilities required to rapidly configure new banking products, including structured investments, in support of this expansion strategy.
“We are proud to support our new client in their expansion by providing a core banking platform that enables them to continue to differentiate themselves with a raft of new products and services,” commented Andreas Andreades, CEO, Temenos. “The ability to deliver market leading applications that enable world class banks to fully meet the needs of their client base is vital in this economy. We look forward to supporting them to drive their banking business forward”.
About Temenos T24
T24 Model Bank is packaged core banking software which includes banking best practices based on Temenos’ implementations in over 600 financial institutions and 120 countries across the Retail, Corporate, Universal, Private Wealth, Islamic and Microfinance and Community banking sectors. Its highly automated approach delivers short implementations, guarantees lower cost of ownership with rapid and measurable ROI. T24 allows banks to replace a large number of disparate legacy systems, thereby streamlining their operations. Banks around the world use T24 to rapidly deliver innovative, market-driven products and services tailored to meet the changing needs of their customers. T24 enables banks to deliver growth, while managing risk and cost, and ensuring that they remain ahead of the competition with the most efficient and economical business model in the market.
T24 provides banks with unparalleled richness in functionality on an integrated, Service Oriented Architecture (SOA), with front- to-back office support and is fully enabled for standard SOAP (Simple Object Access Protocol) web services, and BPEL process execution. 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, all resulting in a significant delivering a significant, immediate and ongoing ROI.
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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 52 offices worldwide, Temenos serves over 700 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.
Temenos is top of the IBS Sales League Table 2008, winner of the Best Core Banking Product category in Banking Technology magazine’s Readers’ Choice Awards 2008, winner of the Financial-i Leaders in Innovation award for the most innovative core banking systems solution 2008 and is listed in the American Banker top 100 FinTech companies. 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
Associate Director, IR & Business Strategy
T: +41 (0) 22 708 1535
M: +41 795 207208/ +44 7803 887929
brobinson@temenos.com
Petra Shuttlewood
Temenos PR Manager
Tel: +44 (0) 207 423 3751
Email: pshuttlewood@temenos.com
Evelina Amanatidou Team 660
Metia for TEMENOS
Tel: +44 (0) 20 3100 3592
Email: evelina@metia.com