Kazakhstan-based Halyk Bank has gone live on core banking systems provider Temenos’s T24 application to support its treasury operations.
The implementation forms the first stage of a centralization project being undertaken by the bank to roll out T24 across all of its 720 branches in Kazakhstan and subsidiaries in Georgia and Russia.
The bank is currently implementing the second phase of the T24 service to support and integrate its retail operations, which is expected to service approximately six million customers to aid its international growth plans.
The T24 application replaced an in-house legacy system by Colvir, which had been in place for almost a decade. Using T24, Halyk is expected to maximize the process workflow capability and rich functionality of the software to automate a range of back-office treasury functions, including securities, transactions, interbank loans and deposits on an advanced, modern platform for improved operational and financial efficiency, according to Temenos.
Askar Kussainov, deputy chairman of Halyk Bank, said: This has been a great start to our overall implementation of T24. When selecting a core banking provider, it was important for us to work with a globally recognized supplier that could sufficiently support large scale operations such as ours. We are already experiencing the benefits of T24’s flexibility and breadth of functionality across our treasury division; we look forward to rolling this out across our global retail business to drive our growth plans across Russia and into China.
