This innovative initiative combines leading TEMENOS TCB global banking technology with Metavante’s unique depth of banking knowledge and 40 years of experience in developing and deploying technology for the U.S. financial services marketplace. Metavante will be the exclusive provider of the new, advanced TCB-based platform to the United States market and also enjoy a preferential status for providing TCB as an outsourced solution internationally.
Metavante will deliver the new, enhanced TCB-based platform on a component basis, enabling large banks to replace aging solutions on a “line of business,†or phased approach. It will initially be available as a licensed solution designed for tier-one and tier-two financial institutions. In addition, Metavante plans to integrate these advanced capabilities as a series of component upgrades for those large financial institutions already using its core banking platform.
“Metavante is making a significant investment in core banking that, together with our on-going investment in our core business, will provide financial institutions with access to the latest technology and functionality to successfully compete in tomorrow’s banking market,†said Metavante President and Chief Executive Officer Frank Martire. “This platform will be one cornerstone of Metavante’s growth strategy for serving large financial institutions and expanding business internationally.â€
“We expect the combination of Metavante’s leading market position, its development and distribution prowess in the U.S. banking software market, and its expertise in outsourcing services, with the product superiority of TCB will prove a formidable combination both in the United States and internationally,†said TEMENOS Chief Executive Officer Andreas Andreades.
TCB is the Temenos’ solution for large-scale retail and commercial banks. TCB is a highly scalable solution for tier-one and tier-two banks, as well as multi-bank outsourcing centers. It is a next-generation platform that delivers core retail processing together with a competitive advantage. TCB runs a number of large-scale banking operations. In Europe, TCB operates in the largest retail bank outsourcing center in Spain, running 74 banks and supporting a branch network of over 4,000 branches in a single processing instance. In Asia, TCB has been used as the core platform for a retail bank processing 17 million accounts.
“Because the TCB solution is platform independent, it can be deployed in COBOL as well as Java in a J2EE environment. This should be attractive to large U.S. banks, which operate with large mainframe environments and are challenged with aging platforms,†said Paul Danola, group president, Metavante Enterprise Solutions. “The new Metavante solution will provide large banks with next-generation technology to support advanced frameworks and standards; platform independence; offer a parameter-based solution built with flexible code generation; and a services-oriented architecture that is both open and able to integrate to other environments,†he added.
