The most dynamic banks run TEMENOS: Customer case study - EFG Bank
IT spending accounts for 5.7% of total operating costs, representing 1/3rd of the average for European Private Banks*
Since centralising its IT architecture using Temenos core banking software in 1996, EFG Bank has:
- grown assets under management by a compound annual rate of 59% - more than 34 times faster than it has added additional IT headcount
Temenos has supported EFG Bank through its rapid expansion. Having a scalable, centralised IT architecture has enabled EFG to:
- open offices quickly and inexpensively
- integrate acquisitions and extract synergistic benefits
- launch new products and services rapidly in response to client demands.
*Source - Boston Consulting Group’s “IT Performance in the European Banking Industry, BCG’s sixth annual IT cost benchmarking study”, published June 2009.
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