Temenos unveils T24 Enterprise Java Edition on IBM’s System z

Lisbon - 23 May 2011

New offering to drive higher performance and boost profitability for System z customers.

Temenos (SIX: TEMN), the global provider of banking software today launches T24 Enterprise Java Edition (T24E Java Edition), the new Java and component based version of TEMENOS T24 (T24) designed for use by the world’s largest banks. As part of this launch, Temenos unveils results of a major benchmark which illustrate the high performance of the new product running natively on IBM’s System z servers, fully exploiting the advanced features that System z users benefit from today.

T24E Java Edition combines the industry’s most efficient core banking software with IBM System z, the unrivalled platform of choice for large scale banks globally, including the top 120 global banks and the top 50 US banks. These banks can now acquire a modern, cost effective and highly scalable core banking solution combined with the highest levels of resilience, reliable performance and rich, mature and proven control environment of System z.

T24E underwent validation by Temenos and IBM engineers to confirm its native suitability for the System z platform, proven using an environment designed to reflect real world retail banking activity. T24E was shown to fully exploit advanced System z features such as Sysplex and DB2 Data Sharing, providing massive levels of scalability and resilience. It was also shown to efficiently utilise IBM’s advanced WebSphere platform to offload up to 80% of its workload onto IBM low cost specialist zAAP processors, providing a more cost efficient solution for System z users. Whilst the benchmark was not designed to test maximum performance, IBM and Temenos were pleased to note that IBM System z processed the highest number of transactions per processor per second compared to T24 benchmarks on other platforms.

IBM has also granted T24E Java Edition certification for the IBM Banking Industry Framework for Core Banking Transformation, its foundation for the incremental modernisation of a bank's core systems.

T24E Java Edition provides the best option for IBM mainframe users to successfully migrate from legacy core banking systems in a risk controlled manner and improve their performance, profitability and customer service.

Andreas Andreades, CEO, Temenos commented: “Large banks value the reliability, scalability and security of the mainframe environment. T24 Enterprise for System z ensures that large banks can continue to enjoy the scalability and reliability of the mainframe platform, while exploiting the benefits of lower cost of ownership, flexibility to adapt to market changes and ability to differentiate at the customer service level that are afforded by a modern banking application like T24. We estimate that 55% of core banking spend is undertaken by large retail banks, so clearly this is a very large opportunity for all parties involved and we look forward to a long and successful partnership with IBM.”

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