Temenos Community Forum, Barcelona, 23rd May 2012
Temenos (SIX: TEMN), the market leading provider of banking software, today unveiled the latest release of its core banking product, TEMENOS T24 R12. Investing in best-of-breed, ‘out of the box’ technology and functionality is at the heart of Temenos’ product strategy, as it consistently provides innovative banking products to its global client base.
The functional enhancements to T24 R12 provide Temenos clients with a detailed insight into their customers’ financial positions and behaviours, providing a platform for true customer centricity whilst lowering total cost of ownership (TCO) and protecting investment in technology – supporting financial institutions’ future profitability.
Using real-time analytics, T24 R12 features functional enhancements which provide a clear and detailed understanding of individual customers, enabling institutions to provide tailored advice and products to meet each individual’s needs. Significantly enhanced communication channels support seamless customer interaction and enable banking clients to easily self-serve using internet, mobile and tablet devices. The ARC channel solutions provide users with access to a full suite of banking transactions and services, as well as recommendations for new products and services that have been assessed based on the individual’s circumstances, in a uniquely secure environment. R12 has seen continued investment in functionality to support rapid development and launch of new products, allowing its banking user community to promptly respond to market and customer demand.
Mark Winterburn, Group Product Director, Temenos, says:
In T24 Release 12 we have placed a great deal of emphasis on supporting our clients in protecting their greatest asset – their client base. The enhancements to our channel and business intelligence suites are true differentiators, not just for Temenos, but also for our clients. Our commitment to innovation is made possible by the strength of the platform we are building on. That same platform also gives our clients choice – enabling them to provide exceptional customer service whilst maximising efficiencies and reducing total cost of ownership. Temenos will continue to lead in the evolution of banking software and technology, supporting our clients to stand out from their competitors.
The new functional enhancements of Release 12 include:
– Two new products of the Business Intelligence suite, Customer Insight and Operational Insight. Customer Insight provides banks in-depth analytics so they can better understand customer needs, in order to make individual recommendations and design new, relevant products. Operational Insight enables banks to streamline their business processes and focus on meeting customer demands efficiently.
– New banking apps for iPad – using OData, the open standard data protocol backed by Microsoft, to deliver iPad apps for Corporate Banking clients and Private Wealth advisors, providing them with an efficient method to access their data. All apps are native, utilising the latest Temenos technology to provide data security and user authentication.
-The Corporate Banking app provides corporate clients a detailed single view which lists and provides details of their associated accounts, transaction histories and pending transactions. Customers can originate and receive secure messages and authorise outward payments in real-time. The device dependency of the security is unique, reassuring users and protecting them and the financial institution against financial loss.
-The Private Wealth Advisor app enables relationship managers to view lists and details of their clients, as well as their individual alerts, secure messages, and work-list items. The relationship managers are empowered to provide the best advice to each client, at whichever location the client chooses to meet. It provides a single client view, including details about portfolios, valuations and offers detailed portfolio analysis including transactions, allocations and performance.
– A new interface for ARC Internet which enables banks to rapidly design and adopt a modern internet user interface, to provide an exceptional user experience and allow the institution to integrate multiple applications into a single customer view.
– A number of new features for ARC Mobile, providing more functionality ‘out of the box’, and a platform to support development of new services, features, and easy deployment of new plug-ins. The new release of ARC Mobile also provides deeper support for mobile payments. The branchless banking technology features a pre-configured integration between T24, ARC Internet Banking and ARC Mobile, allowing for single registration of customers across multiple channels. The range of connectivity options has been expanded to include SMPP and USSD.
– New features in the Arrangement Architecture (AA), including savings plans, enabling banks to set up savings schedules and track payments to remunerate loyal customers accordingly.
Also announced today is the Temenos Enterprise Frameworks Architecture (TEFA), an extension of the current technology framework which further supports the future development of modular banking components. For more information on TEFA: https://www.temenos.com/news-and-events/news/2012/Temenos-Enterprise-Frameworks-Architecture-Unveiled