New banking model serves over 300,000 customers
Temenos (SIX: TEMN), the market-leading provider of mission-critical solutions to the financial services industry, today announces that Australia-based ME Bank has completed the implementation of a suite of Temenos products. These are T24, Temenos' best-selling core banking system*, Insight, its business intelligence solution, and AML Screen, its anti-money laundering solution.
The implementation represents a key part of ME Bank's technology transformation programme, undertaken to prepare it for its shift towards better serving the digital consumer. The Temenos products replace the previous system infrastructure, which was a combination of various technologies.
ME Bank is an Australia-based branchless bank, operating through mobile, workplace bankers, brokers and a digital service channel with over 300,000 customers. It is 100% owned by Australian industry superannuation funds.
The transformation project has included the enhancement of the Australian Model Bank for Temenos, which will be used in future Australia-based bank software implementations. ME Bank joins Temenos' 150 existing customers in the Asia Pacific region.
Martin Frick, Head of APAC at Temenos, said: "ME Bank wants to have one of the best digital channels so it is essential that the platform has the agility and sophistication to offer a rich integrated experience. As such, we are delighted to have completed the successful implementation of our core banking system, business intelligence and anti-money laundering products at ME Bank – a deployment that forms a central part of the bank's rebuilding of its technology platform to support its growth objectives. Temenos solutions will equip ME Bank to offer innovative products and meet the changing needs of its customers."
Kon Mellas, Acting CIO at ME Bank commented: "ME Bank's challenger status is the driving force behind our technology transformation program. We believe technology will define which banks succeed or not in the twenty-first century and we're unashamedly putting technology at the centre of our growth plans. A key part of our new technology transformation program is the implementation of a new Temenos T24 core banking system, which replaces our two legacy systems. We are very pleased that Temenos systems have successfully gone live at ME Bank. T24 is state-of-the-art, and as such allows ME Bank to provide the right products for our customers in today's increasingly competitive digital age."
*International Banking Systems Sales League Table 2014'