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Bank of Ireland selects Temenos UniversalSuite

Further to its announcement this morning, Temenos (SIX: TEMN), the software specialist for banking and finance, confirms that Bank of Ireland Group has selected UniversalSuite, its front-to-back solution for retail, commercial and corporate banking, to be implemented as Bank of Ireland’s new core banking and channels platform.

UniversalSuite, used by over 400 banks across the world, is proven to reduce banks’ infrastructure costs at the same time as enabling them to deliver enhanced customer centricity at scale and capitalize on open banking initiatives. Bank of Ireland intends to use UniversalSuite’s real-time analytics and integrated digital channels to deliver highly personalized and interactive customer experiences.

David Arnott, Chief Executive Officer at Temenos, commented: “Temenos is delighted to be working with Bank of Ireland on this significant core banking project. Banks across the world are making strategic decisions to put digital at the heart of their growth plans and system replacement is the foundation for this. Following recent agreements with Nordea Bank and Standard Chartered Bank, this deal further demonstrates that Temenos is the established technology partner for the digitization of the financial services industry.”

Richie Boucher, Chief Executive Officer at Bank of Ireland, commented: “Our focus over the next several years is on adopting, integrating and moving on a careful and phased basis to more scalable and modern platforms that position us for long term sustainability and competitiveness. We are pleased to work with Temenos, which has a proven track record globally in delivering best-practice core banking systems.”