Butterfield chooses Temenos for European banking strategy evolution
New front office capabilities to offer customers increased access and convenience
GENEVA, Switzerland – 20th June 2012 – Temenos (SIX: TEMN), the market leading provider of banking software, today announced that Butterfield Group (“Butterfield”) will extend the use of TEMENOS T24 (T24) core banking system to support its operations in Guernsey. T24 will help Butterfield streamline its European operations by running all banking, investment management and client relationship management functions on a single platform for improved efficiency and customer service.
Already a T24 user in the UK, Butterfield will upgrade to the latest release of T24, R12 which was officially launched at the Temenos Community Forum in May. Butterfield will deploy the platform in Guernsey replacing a number of legacy systems across both regional entities, to reduce complexity and lower costs for the business. Butterfield will also implement a host of front office solutions from Temenos including ARC Mobile and Internet Banking to respond to the increasing market demand for online communication channels and provide its clients with faster access to detailed investment information.
The banking world is a very different place today compared to ten years ago. Customer expectations are the highest they have ever been. Our customers want the right services delivered at the right time in the right way. T24 has given us the functional breadth and flexibility to be more responsive to these widespread requirements in a cost effective way. Based on the value T24 has brought to the UK business, we have decided to expand the use of the platform to Guernsey; Temenos is the right technology partner for this venture,
commented Conor O’Dea, Butterfield’s Senior Executive Vice President, International Banking.
We are delighted to be the technology provider of choice for Butterfield’s European banking operations. By extending its use of Temenos solutions to the front office, Butterfield’s customers will benefit from enhanced, personalised services through a wider range of channels for increased convenience and a positive experience,
commented Keith Stonell, Regional Director, Temenos.
The Bank of N.T. Butterfield & Son Limited (“Butterfield”) is Bermuda’s first and largest independent bank, and a specialist provider of international financial services. The Butterfield Group offers a full range of community banking services in Bermuda, Barbados and the Cayman Islands, encompassing retail and corporate banking and treasury activities. Butterfield also provides private banking, asset management and personal trust services from its headquarters in Bermuda and subsidiary offices in the Cayman Islands, Guernsey and the United Kingdom. In Switzerland and The Bahamas, Butterfield provides personal trust and company services. Butterfield is a publicly traded corporation with shares listed on the Bermuda and Cayman Islands stock exchanges. Butterfield’s share price is published daily in The Royal Gazette (www.theroyalgazette.com) and is also available on Bloomberg Financial Markets (symbol: NTB BH) and the Bermuda Stock Exchange website (www.bsx.com). Further details on the Butterfield Group can be obtained from our website at: www.butterfieldgroup.com.