Temenos will install Temenos T24 Model Bank, a pre-configured version of its modular core banking application, which allows for a faster implementation. The system will enable the bank to introduce new products quickly and meet local Chinese reporting requirements.
Swedbank will implement Temenos T24 as a greenfield site to initially support foreign currency corporate banking services. Temenos will install core Temenos T24 functionality, including trade finance, cash management, treasury, payments and corporate services. The system will run on the Sun Unix Solaris platform, hosted in the bank’s IT center at its Swedish head office, which will link to workstations in its Shanghai branch.
Our pre-packaged Model Bank methodology is proving popular with banks looking to quickly benefit from an integrated core banking system, said Andreas Andreades, CEO of Temenos. We’ve developed specific versions to meet the needs of our vertical markets and have already successfully installed the Chinese product at the Bank of Shanghai. By adopting Temenos T24, Swedbank will be in an exceptional position to capitalize on the increasing opportunities in the region.
