Replace your legacy Misys Equation* system quickly, safely and economically
T24 Model Bank is the simplest and most effective execution of your Misys Equation replacement strategy. T24 Model Bank is a state of the art banking system with a long future ahead of it.
Why replace your Misys Equation Banking system?
Misys Equation was originally bought by mid to small size universal banks in the 1980s and 1990s. Since then, advances in business processes and technology have presented significant challenges. As Misys Equation supports back and front office activities on separate platforms, maintenance of point to point solutions is made more complicated than on a single platform. Changing one piece of functionality in Misys Equation or elsewhere could mean many other interfaces have to change along with it.
So how do banks upgrade from Misys Equation?
The ‘Equation Plus’ upgrade path was aimed at Tier 1 and 2 retail banks wishing to adopt a multi-sourced technology platform. Universal banks within Tiers 3 or 4, using the i-Series platform, were thereby significantly challenged in terms of their upgrade path. Following a strategic announcement by Misys in March 2007, this project is now cancelled. The available migration path for users of all three of the Core Banking systems currently offered will instead be BankFusion, a new system developed by a company purchased by Misys in 2006. All Core Banking systems will still be supported, but any further enhancements must be funded.
T24 Model Bank provides comprehensive replacement of Misys Equation
TEMENOS T24 (referred to as T24) is a modern, upgradeable and evolving banking system which covers all areas of banking in an integrated manner on all modern technology platforms.
Temenos has built a Model Bank specifically designed to replace Misys Equation which can be deployed quickly and with low risk.
Model Bank is a fully featured copy of T24 which has a wide series of processes and products pre-configured. The Temenos Model Bank’s specially developed implementation methodology achieves fast and low-risk implementation of cutting-edge best practice. Model Bank can be used either as a starting point for a more bespoke implementation, or can be implemented "out of the box". Implementation time frames for Model Bank Temenos’ flagship T24 software has the following key characteristics:
Upgradeability
New versions of T24 software are released approximately every twelve months and banks can upgrade their version of T24 using an automated upgrade tool, which is included with the product. Most clients upgrade every 2-3 years to take advantage of all the new enhancements in the system.
Constant Enhancement
Our clients and prospects collectively help us to ensure that the product remains "ever green" and continues to move forward to support the latest industry business practices and products.
Wide Coverage
T24 is a Universal Banking system. This means in the one system we cover not only traditional ‘Core Banking’ areas, but also all other areas such as Trade Finance, Retail Lending, Front Office, including retail branch management, and Securities Trading with full Treasury coverage. Temenos can also offer specialised support in other areas such as Basel II calculations and reporting.
Open Platform Support
T24 has been designed to operate on the widest selection of technology platforms possible. The product supports the full Microsoft technology stack, UNIX and Linux. All industry standard databases are supported including SQL-Server, Oracle and DB2. This allows our clients to choose the most cost-efficient and appropriate technology platform now, with the ability to review this choice in the future. Temenos remains committed to ensuring compatibility with a wide range of platforms.
For more information please contact:
salesteam@temenos.com