Fortis Bank Nederland (FBN) has gone live on TEMENOS T24 (T24) at its Singapore office. Using T24, Fortis Bank Nederland will roll out T24 Model Bank for corporate banking internationally from one central hub based in the Netherlands, ensuring the continuity of services to all its international corporate banking clients.
The implementation forms the first stage of the centralisation project being undertaken by the bank to achieve full operational integration on a single, open platform. Moreover, the bank is now working to roll out T24 in the UK, US, Hong Kong and continental Europe, and expects the project to be completed by Q3 2010 in line with the separation timescale requirements of the bank.
The firm has added that using T24, Fortis will be able to generate a single customer view across all countries and currencies in which the bank operates, generating quality management information, improved, real time client reporting and higher visibility of risk. The implementation is jointly managed by Temenos professional services and Fortis following the Temenos implementation methodology and process led implementation expertise of Temenos’ management consulting service.
Frans van der Horst, COO of FBN, said: “Having achieved a successful and rapid first phase go live, we are already seeing the adaptability and truly global nature of the T24 platform which will enable us to meet our challenging separation deadlines and fully support our corporate banking operations across the world at a reduced cost of ownership. Risk management and cost control will continue to be a prominent business driver for us in the years ahead. T24 will enable us to acquire a comprehensive and real time picture of all credit exposures across the corporate relationship for a sound understanding of counterparty risk.”