customisation. For instance, the bank added some reports to the Close of Business but these adversely affected the performance, so they were removed. On the upside, online performance had been ‘excellent’ (at mid-June, it had 55 users on the system, with this to become 600 when the project was complete). For payments, the bank did a benchmark with 60,000 transactions. The first time this was done, the Close of Business took ten hours; after tuning, it was down to three. One unpleasant surprise for Saudi Hollandi were the


hardware requirements. The bank originally envisaged relatively small IBM machines but ended with two IBM p690s, with Oracle clustered across both and with six CPUs on each machine for the database and six on each for T24. One machine supported the share trading part of T24, the other modules resided on the other machine. There were a number of other lessons. Zarour advised banks to stick to the ‘Model Bank’ as offered by the system – the moment you start to move away from this, complexities arise, he said. Reports and inquiries should be optimised, as they can have a major impact on performance, whether online or at close of business. One part of T24 which was not proven within the initial 25 or so live sites was centralised processing, which ING would have implemented. A few Globus users used their system for centralisation, including Dresdner Lateinamerika (prior to being sold to UBS in 2005), AIB and EFG Bank (the latter as it had pursued an acquisition strategy over the previous few years). By mid-2005, a number of multi-site Globus users were apparently considering replacing outlying systems with a centralised T24 (Mashreq Bank was suggested). Also on the way was support for SQL Server, with availability set for the second quarter of 2006, dependent on performance tests. Jih Sun Commercial Bank in Taiwan, which had taken T24 on a Microsoft platform, was suggested as a possible taker of the SQL Server version.


Some light was shed on the whole Model Bank concept within a 2006 deal at Bank of East Asia in London, an early recipient of such a supposed Model version, to replace Misys’ Midas. Under general manager in the UK, Joseph Chow, the bank set about implementing this. By now, Temenos was pushing the Model Bank route as strategic, centred on a largely pre-configured version of T24, supposedly based on best practice. T24 was ‘very flexible’, said Chow, but this came with a down-side in terms of set-up times and the potential for ‘project creep’ if there was not strong project management (incidentally, he felt Flexcube, which the bank had rejected at the shortlist stage, was more rigid than T24, so more of a standard package). However, the Model Bank theory and reality were some way apart. Temenos’ Model Bank team was based in its centre in Chennai. The bank sent specifications on its operations to this team in late 2005 and the Temenos team visited the bank shortly after for systems analysis. One of the lessons was


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that the visit, which lasted about two and a half weeks, was not long enough and did not go into sufficient detail. ‘You need to ensure a good user specification and ensure that the other side understands how you work. The Model Bank team didn’t spend enough time and, I think, didn’t want to.’ Chow also felt that the team was not up-to-speed with UK market requirements. The problems became apparent when a first cut of


the Model Bank solution was delivered to the bank in late February/early March. Testing soon threw up gaps. There was a lot of discussion and arguments between the bank and the Chennai team. The emphasis from the supplier was on the bank to adapt to the system, whereas the users’ response was, ‘we’ve still got to deliver to the customers’. There were aspects where it was felt that adapting would have a negative impact on service. Chow felt the Chennai team was incentivised based on the go-live date and so it wanted to preserve the vanilla state of its T24 version. The response to the bank’s requests was often ‘no, that can’t be done’ but what was actually meant was, ‘no, that can’t be done with the Model Bank version’. In the end, the issues were sorted out and the bank went


live. It is likely that Temenos learnt as much from the project as the bank did – this was, after all, one of the first attempts to take the Model Bank route. ‘The Model Bank was a bit of a disappointment, but I think they learnt a great deal,’ said Chow. He felt that Temenos’ latest strategy, to come up with different Model Banks for different types of institutions, such as private or Islamic banks, reflected such a realisation. In terms of the centralised support within T24, there was


a breakthrough in April 2007 when Schroders became the first institution to centralise its IT infrastructure using T24 on a multi-currency basis, so as it had envisaged. The core T24 went live with a central hub configuration in Schroders’ new Private Banking Service Centre (PBSC) in Zurich, supporting its mainland UK, Guernsey and Swiss private banking subsidiaries. This was an important breakthrough for Temenos, as full centralised processing had been such a cornerstone of the T24 overhaul.


The system had been installed at the service centre on Sun Solaris servers and was fully operational across the three entities, said Schroders’ Scheiwiller. He reported that the Close of Business processing was running smoothly and quickly for the three subsidiaries, completing in around one and a half hours. Schroders had been able to extend to London and Guernsey all the functionality it had originally built in Zurich. One benefit was that the same reporting templates were used for each subsidiary, with local market adaptations having been made by the bank where required. Scheiwiller believed that Schroders was the first T24 client to run on a centralised basis across at least two different base currencies, and three different countries and legal entities. With the system stable, Schroders planned to embark on


Universal Banking Systems Market Report | www.ibsintelligence.com


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