Temenos (SWX: TEMN), the global provider of integrated core banking systems, today announced that Investec Bank (Australia) Limited has gone live on TEMENOS T24 (T24) to support its cash management and deposit raising activities.
Investec Bank (Australia) Limited (Investec Bank Australia), a wholly-owned subsidiary of international specialist banking group Investec, provides a diverse range of investment banking products and services to an intimate network of high net worth individuals and their businesses.
Gavin Brandenburger, Head of Private Bank Infrastructure, Investec Bank Australia, says: “Client retention and acquisition is a key requirement to our long term business success in today’s aggressive market. With T24 now supporting our deposit activities, we have the flexibility to rapidly deliver more sophisticated and bespoke services to our clients in response to both industry changes and client needs. T24 provides an integrated platform which has enabled the consolidation and quality improvement of our customer data, which will aid our private bankers in providing innovative services to our clients.”
T24 replaced current systems which the bank had operated for over a decade. Working closely with Investec, Temenos installed T24, including complex deposits functionality on Microsoft SQL Server 2008 to support the bank’s Sydney, Melbourne and Brisbane offices.
Susan Hauser, Vice President, Worldwide Financial Services Sector, Microsoft, says: “Microsoft and partners such as Temenos, together provide deep industry knowledge and expertise to financial services customers globally through solutions that improve corporate performance and drive new efficiencies. Investec’s implementation of T24 on Microsoft SQL Server 2008 will help drive significant operational capabilities and a strong connected experience for their customers both today and the future.”
Andreas Andreades, CEO, Temenos, adds: “We are delighted to be expanding our user base in Australia and welcome Investec to this community. In today’s market, high net worth clients have become increasingly sophisticated, with more complex investment requirements which banks need to able to respond to. Banks are increasingly looking for transaction based income as a way to manage capital and minimise risk during the current financial downturn, driving the need for superior and bespoke customer service to achieve this. This successful implementation highlights Temenos’ continued commitment to provide our products on all major technology platforms, including Microsoft SQL Server, contributing to reductions in cost of ownership through the utilisation of existing in-house skills.”
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