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December 2, 2011

IBM signs IT services agreement with Temenos

To provide collective local market insight and regulatory understanding for clients

By CBR Staff Writer

Temenos, a provider of banking software and IBM have signed an agreement, under which IBM will provide consulting and integration services together with software and hardware resources for Temenos implementations.

This agreement will benefit joint clients by providing them with the collective local market insight and regulatory understanding of the companies, combined with a consistent level of service both within and across markets.

Temenos and IBM have worked together with clients globally to implement both wealth management and core banking solutions.

This services collaboration strengthens the Temenos and IBM Global Services joint proposition to give global banks a solution that drives profitability, reduces overall costs, and provides the scalability to support future growth.

The relationship also covers implementations of TEMENOS CoreBanking (TCB), a functionally rich core banking platform which also runs on IBM System z and is used by some of the world’s largest mass market banks.

Temenos Global Alliances director Mike Head said regulatory changes will fundamentally impact banking business models worldwide, particularly in the mature market economies of North America and much of Continental Europe.

"With this enhanced services structure, Temenos and IBM will together help banks adopt solutions to transform business efficiency, cut costs and mitigate risk," Head said.

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IBM Banking and Financial Markets general manager Rusty Wiley said under this new agreement, IBM and Temenos will help banks explore new business models and exploit new pockets of profitability.

"By combining our strengths to offer a powerhouse of services with associated hardware and software support, we will be able to offer banks the right expertise and technologies at a critical time to deliver innovative products faster than the competition," Wiley said.

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