Broadening its range of partners,
Swiss core banking systems provider Temenos has formed an alliance
with Microsoft’s Financial Services Group. The focus of the
alliance – which covers technical, marketing and sales
collaboration – is delivery of core banking solutions based on the
Temenos T24 (T24) system and the Microsoft SQL Server platform.
The formal alliance follows an initial joint
project involving deployment of a core banking solution based on
the T24 system and the Microsoft SQL Server for North Shore Credit
Union (NSCU), a Canadian financial institution with some 400,000
members.
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Praising the solution, NSCU’s chief
information officer, Fred Cook said: “Ours is a fiercely
competitive market, and the combined T24 and Microsoft SQL Server
platform helps us attract and retain members by providing expert,
proactive financial advice based on clear data.”
He continued that the ability to use a
Microsoft-based platform to help integrate NSCU’s entire data
management environment and make quicker business decisions is key
to providing NSCU with a greater competitive edge.
“It really helps us to provide a broader range
of products to our members at a reduced cost,” Cook said.
Interest in Microsoft SQL Server-based
solutions appears to be on the rise. In support of this, Temenos
reports seeing “significant customer demand” for Temenos Insight, a
browser-based business intelligence and reporting solution which is
designed specifically for banks running T24 and incorporates
Microsoft’s SQL Server, analysis and reporting technology.
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By GlobalDataTemenos reports that 21 banks have selected
Temenos Insight since its launch in March 2009.
Further underscoring potential benefits of the
alliance with Microsoft, Temenos’s CEO Andreas Andreades commented:
“We have observed a growing interest from our customers and
prospects in deploying the Microsoft platform for their core
banking operations.”
Illustrating this, Andreades pointed to a
recently concluded deal with Taiwanese bank Bank SinoPac for the
installation of a Temenos T24 core banking solution that will run
the system on the Microsoft platform. A regional bank, Bank SinoPac
has some 4 million customers.
T24’s scalability was confirmed by performance
tests undertaken in October 2008 by IBM, which revealed it to be
capable of servicing banks with up to 25 million accounts.
