Temenos, a provider of core banking systems, has launched Temenos Insight, a packaged business intelligence suite that is expected to help banking staff to make fact based decisions to strengthen customer insight, risk and compliance and performance management strategies across the enterprise.
The company said that Insight is a modular; browser-based application, underpinned by Microsoft’s business intelligence platform, and integrated with Temenos T24 (T24). Existing T24 users can deploy the system in less than eight weeks and begin to realize benefits immediately upon implementation, whilst minimizing disruption to the existing infrastructure, services and cost base.
The company also said that this new offering stems from Temenos’s strategic acquisition of Lydian Associates, formerly a UK-based business intelligence software provider for the banking sector, made in November 2008.
Using Insight, banks can generate daily profitability reports across portfolios, products, departments and branches throughout the entire enterprise to assess performance against organizational and market changes, creating an adaptable business environment. As it is fully integrated with T24, Insight will enable banks to build on the customer centric nature of T24.
Insight automates the T24 data capture process, reducing risk of errors and giving staff more time to focus on creating value-add analysis, ensuring rich information is leveraged so trends across customer segments, regions and business areas can be identified.
Andreas Andreades, CEO of Temenos, said: We are delighted to now be offering our clients a complete business intelligence product suite which has proved to be an excellent fit with T24’s functionality. High quality, real time information is clearly a strategic asset for banks and has become even more vital to their survival in this era of economic uncertainty.