GENEVA, Switzerland – 14 November 2006 - TEMENOS Group (SWX: TEMN), the provider of integrated core banking systems, today announced that Jih Sun, an established retail bank in Taiwan, has gone live with TEMENOS T24 on Microsoft Windows Server 2003. TEMENOS T24, the company’s modular core banking system, now supports some 2.4 million accounts and 1.4 million customers across 49 branches. The system enables the bank to reduce the time to market for new products and manage its user accounts through a consolidated customer view.
Tom Ko, CIO, Jih Sun, says: “A key requirement for us was to lower our total cost of ownership. That TEMENOS T24 supports the Microsoft platform was completely strategic to our business. We now have a tailored core banking system that can support huge transaction volumes, and running on our preferred choice of operating system. We’ve also decided to install treasury and trade finance functionality to replace local systems – furthering consolidating our processes within a single integrated system.”
Previously, Jih Sun was operating on a locally developed mainframe system, which required continued and costly customisation to suit its needs. During the implementation of TEMENOS T24, TEMENOS carried out significant development work to ensure the system met the bank’s requirements, including local needs such as typhoon day processing capabilities. Thanks to the layered architecture of the system, TEMENOS was also able to provide user interfaces in the local
traditional Chinese language, Mandarin. TEMENOS provided core functionality, including daily accruals, collateral management and multi-book components. The bank went live with the system in October 2006.
Jih Sun installed TEMENOS T24 on Microsoft Windows Server 2003 with Unisys hardware. By running TEMENOS T24 on the Microsoft platform, Jih Sun’s IT staff have a familiar interface on which to operate the new system. Using Microsoft Windows Server 2003 is enabling Jih Sun to achieve cost savings and increased productivity from its TEMENOS T24 implementation as bank employees can focus attention on activities that provide a greater return to the business. By using hardware supplied by Unisys, Jih Sun can also take advantage of a higher availability of resources to maintain their chosen platform.
David Vander, worldwide managing director, banking, Microsoft, says: “This implementation is a great example of how our partnership with TEMENOS is helping banks get the most from their core banking systems. In particular, the technology is proven to be completely scalable to service high volume activity. Jih Sun joins a growing list of banks that now benefit from the flexibility and advanced functionality offered by TEMENOS T24 along with the cost and performance benefits offered by the Microsoft platform.”
Andreas Andreades, CEO, TEMENOS, adds: “This is a milestone deal for us in that it is our first client to go live in Taiwan, a significant area of growth. It is also further evidence of the advantages offered by an open platform system. TEMENOS T24 operates on multiple platforms and we have supported clients running on Microsoft Windows Server since 1997. As such, firms like Jih Sun can adopt modern core banking technology without compromising on other technological choices.”
TEMENOS has an international client-base of over 500 financial institutions and continues to attract global tier 1 and regional banks as a result of its superior products, TEMENOS T24 and TEMENOS™ COREBANKING.
- ENDS -
About Temenos
Founded in 1993, Temenos Group AG is a provider of integrated modular core banking systems to over 590 financial institutions in 110 countries worldwide. Temenos software provides banks with a single, real-time view of the client across the enterprise, enabling banks to maximize returns while streamlining costs. Whether providing 24/7 functionality to the wholesale, retail and private or universal banking sectors, partnering with central banks on core system replacement, or working with the World Bank on solutions for the emerging markets, Temenos knows banking. The company has a transparent approach to its operations and brings to bear its experience, expertise, commitment and professionalism on every project. Headquartered in Geneva, Switzerland, the company has 43 offices in 33 countries and is listed on the main segment of the SWX Swiss Exchange (TEMN). 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
Bianca Morgan
Temenos PR Manager
Tel: +44 (0) 207 423 3751
Email: bmorgan@temenos.com
Chris Patmore
Team 660
Metia for TEMENOS
Tel: +44 (0) 20 3100 3596
Email: chris.patmore@metia.com