Libra Internet Bank Upgrades Its Temenos Transact Core Banking System

Leading banking software supplier release affords enhanced customer service and product customisation for the bank

Press Releases,
Temenos – Company

Romania-based Libra Internet Bank, a member of the American investment group New Century Holdings, has announced its upgrade to the R12 version of its core-banking system, Temenos Transact™. The bank first implemented T24™ in 2008 and has been constantly modernising its other applications.

The decision to upgrade T24™ is the culmination of the changes that Libra Internet Bank made to all its electronic and online applications throughout 2013. In less than one year, Libra reconfigured its Internet Banking platform and added tens of new functions, launched the Libra Mobile Banking service and extended the cut-off time for most operations, during evenings and non-working days.

Emil Bituleanu, president of Libra Internet Bank, said:

“We live up to our name, as an Internet Bank. This makes us fully committed to innovation and the latest technology. The R12 version of Temenos Transact™ is a leading product that serves our purposes and we also benefitted from the valuable testing and support experience of Hemal Infotech along the way.”

Noah Kraehenmann, Sales Director, Temenos, commented:

“We are delighted that Libra Internet Bank has chosen to upgrade its T24™ system. We offer flexibility in our product maintenance, guaranteeing that at any point in the installation life-cycle T24™ release upgrades can be made smoothly and cost effectively. This will enable the bank to further develop its presence in Romania, through offering an unrivalled service to its customers, adapted to their individual requirements, and at the cutting edge of innovation. Temenos is a long-established provider to the Romanian banking sector, affording it a deep understanding of the evolving IT needs of this dynamic market.” (

Mr. Ramesh Vaddlamaani, Co-Founder & Head of Sales of Hemal Infotech, said:

“Working with Libra Internet Bank’s team in Romania was a great experience for Hemal Infotech specialists and we appreciated the cooperation of fully dedicated people with whom we built a successful assistance project. Hemal Infotech is specialized in offering services for implementation, testing and support of IT solutions. Our strength is in-depth knowledge and experience on banking and technology to deliver qualified, reliable, scalable and cost-effective solutions to our clients”

He added:

“Temenos is recognised by Gartner as a ‘leader’ in its core banking Magic Quadrant for T24™, is the only vendor to be top of both Forrester global vendor pyramids for sales of banking platforms and, according to the International Banking System Journal’s annual league table, T24™ is the world’s best-selling core banking platform.”

Temenos Press Contacts

Scott Rowe

Temenos Global Public Relations

+44 20 7423 3857 [email protected]

Alistair Kellie

SEC Newgate Communications for Temenos

+44 20 7680 6550 [email protected]

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