IBS Journal February 2016
WHO? Advanzia Bank WHAT? Temenos’ T24 core banking system
Luxembourg-based digital bank, Advan- zia Bank, is replacing its legacy solution with the T24 core banking system from Temenos. The bank opted for a Micro- soft-based version. The old system, which has been running in the bank for over ten years, has scalability, flexibility and integration limita- tions, according to Temenos. The Temenos offering will completely replace Advanzia’s current technology environment, states the vendor.
A local IT integrator and Temenos’
partner, Syncordis, will manage the project delivery. Marc Hentgen, CEO of Advanzia, ex-
plains that the bank’s choice of vendor ‘was based to a large extent on its impressive track records and by a unique functional coverage’. ‘We have been offered a fast, cost-ef-
fective deployment, with the peace of mind that our software enables us to meet
all local regulatory requirements,’ he adds. Steen Jensen, Temenos’ regional
director, Northern Europe, says that the vendor has made ‘significant investments in strengthening our team and building out the country [T24] Model Bank’. Temenos’ customers in the country
include DNB Luxembourg, which opted to replace Misys’ Midas with T24 last year; a Luxembourg branch of Spain’s Banca March; East-West United Bank; and EEPK.
More about Advanzia Advanzia was set up in 2005 as an online direct bank for retail clients. It is a brainchild of the founders of
Norway’s Bankia Bank (set up in 2001 and sold to Santander in 2005). Advanzia is majority owned by a
Norwegian entity, The Kistefos Group. It currently offers two products: the
Mastercard Gold credit card (offered to consumers in France, Germany and Luxem-
bourg) and a high-interest deposit account, which is available to consumers across a wider European geography. Advanzia Bank has assets of €843.9 mil- lion, 710,000 credit card holders and 25,000 deposit account customers. It employs 84 staff.
Tanya Andreasyan
Luxembourg, Verlorenkost © Cayambe, Wikimedia
WHO? MTBank WHAT? Colvir’s CBS core banking system
Belarus-based MTBank is to modernise its core banking software with Colvir Software Solutions’ CBS platform. The bank has signed to implement
44 functional modules of Colvir’s flagship offering. This is the vendor’s first foray into the country. The new solution will replace the For-
post core system supplied by Lithuanian developer Forbis. MTBank was the first user of Forpost in Belarus. It signed for the sys- tem back in 2006 and originally planned to go live in August 2007. However, the pro- ject was plagued with problems and over- ran by a number of years. MTBank was set up in 1994 as Minsk
Transit Bank. It went through a major rebrand in 2012 and now positions itself as
© IBS Intelligence 2016
www.ibsintelligence.com 23
a fully-fledged universal banking player, ‘a bank of fresh solutions’. It has a domestic network of 149
Minsk, Belarus © Mikkalai, Wikimedia
branches and outlets. It is one of the top three largest banks in Belarus for consum- er financing.
Alex Hamilton
recent orders
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