Netteller omnichannel banking platform supplied by Netinfo. The bank signed for Temenos’ T24 core banking system in Q2 2014. The acquired operation has already been a long- standing user of T24 (as part of a multisite roll-out across the regional operations of RBC). Israel’s major banking group, Bank Leumi, signed for
Temenos’ T24 core banking system and Temenos Connect for digital channels. The bank has adopted a gradual renovation strategy, with the first phase being a new digital bank to be launched in Israel, underpinned by the Temenos software. This phase was expected to take one year. Kenya Commercial Bank (KCB), the largest financial
services group in Kenya, embarked on an enterprise-wide initiative to upgrade its core banking system, Temenos’ T24. The relationship with the vendor has been far from smooth over the years, and at one point a possibility of the T24 replacement was voiced. The original deal dates back to 2007. A number of integrators and consultants have worked with the bank over time, including Sofgen and Cognizant. However, it is understood that the replacement was no longer on the cards and the bank is sticking with T24, having decided to move to the latest version, R14. Blueshore is a long-standing user of Temenos’ T24 core banking system, and is now also gearing up to implement Temenos Connect for digital and branch customer experience. It also runs Temenos’ business intelligence solution, Insight BI. Temenos gained a new client for T24 in the microfinance
sector, Enjaz Capital Islamic Microfinance Bank (ECIMB). The bank implemented the R14 version of Temenos’ T24 core banking system and the mobile banking solution, Temenos Connect.
FirstOntario Credit Union, a small Canadian financial services player with 100,000 members and 29 branches, replaced its legacy Fiserv Signature core system with Temenos’ T24. Temenos will be working on the implementation and has
already allocated a project manager and support team to help the credit union with best practices and training. Temenos stood out from the rest as a new bank chose the system for its Asian launch. Nippon Wealth Limited Bank (NWB), based in Hong Kong but with Japanese roots and ambitions, is a start-up vying for success with T24 fuelling its push to power and glory. With the first stage of implementation completed in May 2015, and the dust not yet settled, Temenos are already planning phase two with NWB. Ally Financial is believed to have signed Temenos emerging payments software offering, Temenos Payments Suite (TPS). Meanwhile, another reference in the Temenos financial results, top 35 domestic banks signing for Akcelerant products is believed to be Comerica. This was one of the largest ever deals for Temenos US subsidiary. Finland’s Aktia Bank entered into the testing stage for its
new core banking system, Temenos T24. The firm was known to be searching for a new banking system in 2013 and publicly
556
announced its choice in November of that year. Changes in customer behaviour and banking regulations, according to the company, caused it to look for a switch in core software. T24 replaced the bank’s legacy IT set-up, which was originally built by domestic vendor, Samlink. Vietnam Public Joint Stock Commercial Bank (PVcomBank) underwent a major front-to-back office software overhaul, with Temenos and Misys providing their solutions. At the back office, PVcomBank is deploying Temenos T24 core banking system, the contract with Temenos was signed in Q3 last year. Ethiopia-based Construction & Business Bank (CBB) had officially inaugurated Temenos T24 core banking system, 11 years after announcing the first bid. The project had four parts: IT infrastructure deployment, core banking implementation, data migration and cleansing, and the card system implementation. The bank says T24 interfaces with the national payment system at the central bank, known as the Ethiopian Automated Transfer Switch (last year BPC Banking Technologies won the contract to develop this new platform). This would allow CBB customers to trade on the Ethiopian Commodities Exchange. Hitachi looked to provide a private cloud service for Mizuho Bank, giving the latter a platform on which to implement its core banking systems. Mizuho Bank would be in a position to optimise costs and reduce workloads and better launch future products by using the cloud. As well as aiding the development and implementation of their core banking system, the Temenos’ T24 platform.
About 50% of the 154 new universal banking system
sales made in 2015 remained with the top three players. The leadership position was retained by Temenos (34), followed by Oracle (28) and Infosys (16). Two Malawian banks were set to come together in a
merger that would result in job cuts and a Temenos-based core banking upgrade. Malawi Savings Bank (MSB) and First Discount House (FDH) Bank are the two entities who claimed to being set to merge, creating a new bank that was expected to be floated on the country’s stock exchange in the next three years or so. The merger is good news for Temenos, as its T24 core banking system will be underpinning the new bank’s operations.
DNB Luxembourg went gone live on Temenos’ T24 core banking system within set timescales and budget. In addition to the Microsoft-based T24 core, the bank also deployed Temenos Connect at the front-end for digital channels, a new document management system from UK-based EFS Technology and a regulatory reporting application from Wolters Kluwer Financial Services. A local IT integrator and Temenos’ services partner, Syncordis, assisted with the delivery. Syncordis is now working on another T24 roll-out in Luxembourg, at Advanzia Bank. Nordea Bank SA, the international private banking arm of the Nordea group, had gone live with Temenos’ integrated
Universal Banking Systems Market Report |
www.ibsintelligence.com
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