14
NEWS
Temenos wins Tier 1 deal in the US for its T24 core banking system
T
emenos has revealed that a Tier 1 bank based in the US has selected the firm’s T24 core banking system as its global cash management platform.
T24 will be used by the bank for deposit transaction processing, internal account sweeping and interest compensation. The system, which will replace the bank’s legacy infrastructure, will be implemented progressively in multiple countries across the globe.
“We are excited that yet another leading US-based bank, one of the largest in the world, has selected us for our ability to support the needs of its global wholesale banking operations,” said Temenos CEO David Arnott.
“Temenos T24 Core Banking will become the bank’s backbone platform for cash management, supporting future growth in international centres, while allowing the bank to deliver world- class and consistent digital customer experience.”
Temenos, according to the CEO, invests more in R&D than any other banking software supplier. It has “an exciting vision and roadmap for its corporate banking product suite”.
The guessing game begins as to which US bank has selected Temenos. The vendor played similar naming games when it announced that a European Tier 1 had selected its systems in October. The vendor revealed the name a few days later.
Dime Community Bank signs deal with Fiserv
D
ime Community Bank has tasked Fiserv with updating its core banking system. The bank will be implementing the vendor’s DNA platform.
Dime embarked on a company-wide transformation in 2014, adding new branches, launching “new digital channels” and establishing new lending services. The Fiserv selection is the latest stage of this modernisation project.
“Upgrading our technology foundation is an essential step in differentiating in the competitive markets we serve,” said Ken Mahon, president and CEO, Dime Community Bank.
“Only Fiserv was able to provide the up-to-date core platform along with integrated solutions that enable us to be more efficient while delivering unique commercial, retail and digital experiences to our customers.”
Alongside DNA, Dime Community Bank will be implementing a suite of other services from Fiserv. This includes Commercial CenterSM with enhanced security and cash management capabilities for commercial and small business banking, and ArchitectTM for a unified consumer experience spanning mobile, tablet and PC banking
The bank will also be using integrated solutions from Fiserv to upgrade the bank’s fraud protection, replace branch capture with a more efficient teller capture solution, and add wire transfer and document management capabilities to support its commercial and industrial business.
www.ibsintelligence.com | © IBS Intelligence 2017
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