Asia Pacific/South-East Asia


Temenos has been a strong player throughout Asia but runs into some healthy competitors, some of which originate from the region, particularly the Indian heavyweights. Selling into India itself has proved mostly fruitless, despite Temenos building up a large development and support team in Chennai. Temenos also added to its regional resources in 2002 when


it acquired the Globus distribution business of long-standing partner, PK Technology. As a result, around 18 staff moved across in the Philippines, plus 20 in India, a small number in Brunei, and around 45 in Malaysia. Indonesia has been a good hunting ground for Temenos.


Bank Syariah Mandiri, the Islamic subsidiary of Bank Mandiri, the largest bank in Indonesia, set about implementing T24 in early 2010. This win followed a similar deal in 2008 at Bank Rakyat Indonesia Syariah and another at Bank Andara. The latter bank is pitching itself as a wholesale bank for microfinance institutions (MFIs) as well as being an MFI in its own right. It took T24 to bring to market a shared core banking platform on an ASP basis, to offer to MFIs in the country. Separately, Andara implemented T24 for its own banking operations, linked to a mobile banking system from South African vendor, Fundamo. As mentioned, T24 is offered in Indonesia on a hosted basis


by Fortress Data Services. Bank Windu was the first to go live with this, in August 2011.State Bank of Indiain Indonesia and Bank Mayora, a universal bank in Jakarta with $90 million in assets, were subsequent signings. Temenos claims an Indonesian Model Bank version of T24,


‘with pre-configured products and best practice’, and also a ‘proven track record’ in the country. This seems a fair claim. Another taker of T24 in Indonesia has been BPR Karyajatnika Sadaya.


Japan has been a difficult country for non-Japanese suppliers but the banks have tended to take packages for international operations. In 2007, Temenos had success with T24 at Sumitomo Mitsui Banking Corporation (SMBC). This was for the bank’s 13 Asia Pacific branches (later seemingly scaled back to eight), with the plan to have a standard platform across all countries for corporate banking. The two companies had a history of working together as


Temenos had a win with the bank’s corporate lending business back in 2005. The system was selected for the latest project because it was felt it could cope with the local products and regulations of different countries. By September 2010, SMBC was apparently live in Singapore, Malaysia, Vietnam and Australia. This was on an Oracle and Unix platform. A similar multi-site deal with a Japanese bank came in 2010


at Mizuho. It was thought to be for up to 50 sites, seemingly starting with a pilot site in Kuala Lumpur, with Japanese


consulting firm, ISI-Dentsu, as the main third party. In China, Swedbank took T24 for its Shanghai operation in


2006, but the stand-out deal was at Bank of Shanghai. Despite cost cutting elsewhere, Temenos made a big push in China in 2003, opening two offices. Bank of Shanghai had around 180 branches and an ambitious expansion plan. A deadline of 2004 was missed by a long way but in late 2008 it was announced that the bank had finally gone live on the Chinese version of T24 for its retail business. Temenos sought to use the project to silence those who claimed that T24 could not scale for retail banking and, even today, Bank of Shanghai is cited by the supplier as its largest T24 user in terms of volumes. It had around 18 million accounts and remained the biggest ‘by some distance’, said Gunning, in January 2015. There were quite a few in the four to ten million range, he added. Temenos has done well in Indochina. A reflection of this was a spate of go-lives in mid-2010. These were at Handico Finance, a corporate banking and project finance firm, and Orient Commercial Bank (Oricom) in Vietnam, Lao Development Bank in Laos and Bank for Investment and Development of Cambodia (BIDC). Lao Development Bank and Oricom signed with Temenos in 2008, and Handico and BIDC signed in 2009. As stated, Temenos has not cracked India. However, it did win a small deal in 2009 from a microfinance institution, Equitas, taking the microfinance and community banking version of T24, dubbed T24 for MCB, and has users in the region. It has won a share of the deals in Pakistan, Bangladesh and Nepal that have come up. One of the wins in Pakistan saw a cutover after a five-year project at Meezan Bank, with the Islamic version of T24. According to the bank, the new system (Release 8) was up and running by mid-2012. It followed where Silkbank had led. A 2008 signing, a first Silkbank branch went live in March 2010, with a rapid ramp up after this, so that 57 branches were live by mid-May, with the rest following in the next month or so. In total, this project covered 200,000 current accounts and 85 branches, and rule number one of Javed Edhi, CIO, was ‘don’t change the systems: instead change your processes’. Allied Bank was another taker in the country.


A fairly large user in the region is Agricultural Development Bank of Nepal(ADBN), one of the largest banks in the country. It went live with Release 10 of T24, at its head office in mid- 2011, with its branch roll-out to follow. It rejected Malaysia- based Silverlake at the shortlist stage at the end of 2009 before starting an implementation in July 2010. In 2010, Temenos built on its base in Bangladesh with a win


at National Bank. ‘T24 is proven software and has very good references,’ said Abdur Rahman Sarker, the bank’s MD. Prime


Universal Banking Systems Market Report | www.ibsintelligence.com 543


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