Beruflich Dokumente
Kultur Dokumente
TEMENOS NEWS
ISSUE 21 MAY 2010
Dematerialisation
The rise of a powerful new approach to reducing costs
Anti-money laundering New front office strategy Secrets of profitable banks BforBank Bank of Shanghai North Shore Credit Union Partnership strategy
TEMENOS NEWS
| 3 ANDREAS ANDREADES: EQUIPPED FOR THE jOURNEY | 4 NEWS | 6 LEAD STORY: RETAIL BANKING | 9 PARTNER VIEWPOINT: DELOITTE | 1O VIEWPOINT: FRONT OFFICE | 11 CASE STUDY: BANK OF SHANGHAI | 12 FEATURE: TEMENOS ACQUIRES VIVEO | 14 VIEWPOINT: CREATING VALUE | 15 VIEWPOINT: DEMATERIALISATION | 16 CASE STUDY: BFORBANK | 17 CASE STUDY: NORTH SHORE CREDIT UNION | 18 TEMENOS PARTNER STRATEGY
As the markets change, Temenos is evolving its business to ease this journey for banks as we move forward. Our acquisition strategy reflects our commitment to equipping banks with the technological excellence they need to remain ahead of the curve during these demanding times. Our successful acquisition of Viveo in France has enabled us to strengthen our product offering further in the important areas of anti-money laundering (AML) and payments. See page 12 for more information on the opportunities arising from this acquisition. This issue comes to you as we host our annual Temenos Community Forum (TCF), taking place this year in Berlin. At this time, we have the opportunity to celebrate the many positive relationships we share within our global business network. The theme of Temenos Community Forum this year is Innovation, service and efficiency the route to profit. We look forward to seeing a healthy profit in all our partners and customers businesses this year. We hope you enjoy this issue.
TEMENOS T24 (referred to as T24), TEMENOS COREBANKING (referred to as TCB), TEMENOS Community Forum TCF (referred to as Temenos Community Forum), TEMENOS Globus (referred to as Globus), TEMENOS jBASE (referred to as jBASE), TEMENOS, are registered trademarks of the TEMENOS GROUP. For further information or your feedback, please e-mail us at marketing@temenos.com
TEMENOS HEADQUARTERS SA 18 Place des Philosophes CH-1205 Geneva Switzerland Tel: +41 22 708 1150 Fax: +41 22 708 1160 www.temenos.com
2010 TEMENOS HEADQUARTERS SA all rights reserved. Warning: This document is protected by copyright law and international treaties. Unauthorised reproduction of this document, or any portion of it, may result in severe and criminal penalties, and will be prosecuted to the maximum extent possible under law.
TEMENOS NEWS
After a rigorous technical assessment of the leading sanctions screening solutions available, the decision to select Temenos for Barclays global initiative was relatively easy
Paul Fabara, Barclays
TEMENOS NEWS
T24 will enable automation of currency and bilateral loan processing to reduce cost by eliminating manual intervention
jrgen Wittenkamp, Danske Bank
As a bank that has historically run inhouse systems, we are delighted to have been selected by Danske Bank to support its corporate lending business. This demonstrates that corporate banks are increasingly turning to advanced packaged core banking software to centralise multi-country operations for significant improvements across risk management, cost control, product innovation and customer service, said Andreas Andreades, CEO of Temenos.
See page 17 for information on the Temenos and Microsoft alliance implementation at North Shore Credit Union
TEMENOS NEWS
In the post-crisis landscape, those banks that weathered the storm face a changed environment. Loss of trust in the banking sector and anxiety over the safety of long-term deposits are shaping customer responses to and demands of their banks. Meanwhile, financial institutions face greatly increased regulatory burdens, along with competition from new entrants to their markets. If regulators enforce more stringent Tier 1 capital requirements, banks will either need to curtail certain activities to remain within their newly defined capital base, or raise more capital, says Gareth jones, Retail Business Development Director at Temenos. The former will impact revenues and profits, the latter dilute shareholder return. Either way, increased efficiencies are needed to soften the blow. Banks have been cutting costs over the last 12 to 18 months and now
that the low hanging fruit of cost reduction is gone, the challenge is to find ways to take further costs out of the business, without adversely impacting the institution. The IDC European Banking Advisory Services Financial Insights: Top 10 predictions for 2010:The Year of Intelligence forecasts that banks will cut back on IT spending and will concentrate mainly on tackling issues around risk. The report also foresees a shift in attitudes to regulatory requirements, predicting: Banks will no longer be able to afford tactical regulatory compliance as IT budgets for compliance grow to 25 per cent. Banks will increasingly stand or fall on their ability to improve their operating efficiency and effectively address regulatory and market challenges, says Tim Walker, a partner at Deloitte. The innovators in this space are those
TEMENOS NEWS
Retail banks for too long have treated customers as a fairly homogenous, amorphous group. Now it is time to focus on providing appropriate offers. Its not just about product innovation but how customers are treated
Gareth jones, Retail Business Development Director, Temenos
banks that are tackling issues caused by complex legacy technology, centralising operations regionally and globally, improving their internal controls and governance, motivating their employees, working well with their strategic suppliers and providing better value products and improved accessibility to their customers. Even banks in countries not directly affected by the global crisis are feeling the impact of new regulatory demands. For Kenya Commercial Bank (KCB), a robust automated system is the key to coping with several new demands arising from the international crisis. In addition to implementing the Basel II capital adequacy systems, the bank faces added requirements for services in operational risk, market risk, anti-money laundering (AML), automated fraud monitoring for both the banking and the credit card business, and the implementation of PCI/DSS standards. A shared regional infrastructure for credit rating is
also being set up. Automation is seen as key to delivering on all these areas, says Tony Githuku, Divisional Director, Information Technology at KCB Bank Group, Kenya. Those banks that already have robust, modern infrastructures will have the advantage of being able to keep expenditure to a minimum. This is one of the strongest factors influencing a rise in new entrants to the retail banking market, from start-up banks to retailers such as supermarkets looking to launch customer banking services. Newcomers are enjoying unprecedented opportunities to displace retail banks, says Rachel Hunt, an analyst at IDC. There have been a lot of new applications for banking licences more than 50 applications over the past 12 months. These players will have the advantage of lower maintenance costs thanks to new back office systems and IT infrastructures, remarks Hunt.
They will be much more integrated from front to back, having been able to review best practices for the business processes and work flows. Temenos sees a strong threat coming from new entrants who cross industries, not just startups, says jones. There are a lot of potential opportunities for both retailers and telecoms providers because they have mass access to customers. They have a lot of the infrastructure to handle billing and customer records, as well as strong distribution channels. Telecommunication companies are already active in payments in Africa, says Githuku. The MPESA system from Safaricom is a global first in size and capability for efficient money transfer using mobile phones. Many banks, including KCB, have opted to allow transactions with MPESA, either by mobile handset or via ATM, both providing new customer convenience.
TEMENOS NEWS
In Channy, president and CEO of ACLEDA Bank, believes that forward-thinking policies will help established banks to prevail against non-traditional incomers. As a mature bank, we are very proactive towards our customers needs. For example, when ACLEDA transformed to a bank in 2000, we knew that we needed to have a system in place from day one to support our growth, manage risks, and be responsive to our customers expectations. As one of the newcomers, ACLEDA Bank has developed quickly and grown faster than the players that already existed. Both established and non-traditional banks will have to deal with the fact that customer expectations of brands and service levels have changed as a result of the financial crisis and institutions are going to have to work harder to win trust. So what new customer demands have arisen in terms of products and services, and how are banks responding? Savings customers have shown a marked flight to quality, says Walker. For those with large deposit balances above the ceiling imposed by the local depositor protection scheme, there has been a dispersal of deposits across multiple institutions. Weve recently noted a greater willingness of customers to move their banking relationships because of underserved needs such as service expectations and transparency in pricing. For Deloitte, a key factor in the battle for customers will be improvements in customer service, part of which will be the extent to which channels are integrated. Walker notes: The requirement to put deposit gathering at the heart of the retail agenda implies branch- and service-led differentiation. The traditional banks may be forced to make radical efficiency improvements in the branch network, including changing what is done in the branches and the branch network footprint and improving cross-channel integration. He believes that these improvements will be easier to implement in those banks that have a more integrated banking platform once again indicating a competitive advantage for new entrants unencumbered by legacy estates and infrastructure.
The big new challenge is to create a seamless fit between channels, says Hunt. Banks really need to do the integration work that will enable them to be more flexible on the mobile channel in particular, to prevent it from being seen as just as an extension of the internet channel. A new channel requires a redesign of how the products are sold. It is critical that customers have the ability to transact on different channels while receiving similar seamless experiences, says KCBs Githuku. At the moment, the important channels are mobile, internet, ATM and branch, in that order. Flexibility and ease of use in all these channels is key. jones argues that cross-channel integration is important but warns about it being the sole focus. We also need to recognise that some sectors are going to want to interact increasingly on a remote basis. The currently unbanked youth, when they come of banking age, may never want to walk into a branch even to establish the relationship initially. Likewise, he says, not all established branch customers are interested in a cross-channel experience. Not surprisingly, there are signs that banks are placing a higher premium on putting the customer at the centre of the banking experience. There is a great opportunity to use technology to innovate around process optimisation, improving efficiencies and removing silos, notes jones. ACLEDAs Channy echoes the conviction that innovation is crucial if banks are to keep up with heightened customer expectation. Everybody in the banking industry is trying to do the same thing better, faster and more securely. If you dont have innovation, you will lose customers because your competitors are always trying to improve service quality and respond to customer needs. Some banks are already using groundbreaking new techniques such as allowing customers to compare themselves to their peers in terms of their financial behaviour, says Hunt. This is data that the banks already have, and they are delivering it to the customer as a usable service. Its all about integration of silos, extracting information and repackaging it in a customer-friendly manner. The ability of banks to engage with their retail customers as individuals will be key during the recovery. Deloittes Walker comments: How a bank prices its products and product bundles, according to the relationship with each individual customer, is an area where innovation could lead to competitive differentiation. The prospects are good for banks that can find ways to connect with their account holders in more meaningful ways, says jones. Retail banks for too long have treated customers as a fairly homogenous, amorphous group. Now it is time to focus on providing appropriate offers. Its not just about product innovation but how customers are treated.
New entrants to the market will be much more integrated from front to back, having been able to review best practices for the business processes and work flows
Rachel Hunt, Analyst, IDC
TEMENOS NEWS
Branches and services will remain critically important for current accounts, savings and mortgage products and be a real way for new entrants to differentiate
Tim Walker, Partner, Deloitte
PARTNER VIEWPOINT
Deloitte predictions
Growth in branch-based savings UK banks may end free current accounts or force customers to bundle them with other products although very efficient banks may be able to offer significantly lower fees. Personal loans will become more expensive and credit card balances will contract as banks look to reduce their higher risk-weighted assets. Increase in mortgage profitability for banks Mortgages will become less commoditised, more expensive for consumers and more transparently priced. Arrears and repossessions may decline, due to the longterm low interest rate environment. a shift to own branded channels for traditional banks Power is shifting back to product manufacturers and trusted consumer brands. Branches will become a key battleground for retail banks as they experience pressure to drive affordable retail deposit funding. Other trends: Customers will increasingly research online and fulfil in branch Lenders will take greater control of distribution The number of intermediaries such as mortgage brokers will decline due to the disappearance of sub-prime mortgage commission New entrants will address their lack of branch footprint by concentrating on direct propositions
10
TEMENOS NEWS
Our aim is to help T24 banks leverage sophisticated technology to deliver a truly differentiated customer experience as the basis for continued growth and profitability
Koen Van den Brande, Product Director, Front Office, Temenos
VIEWPOINT
TEMENOS NEWS
11
CASE STUDY
Bank of Shanghai
Bank of Shanghai is using T24 to achieve strong results in the booming Chinese banking sector
Bank of Shanghai has adopted T24 to help it take advantage of the significant market opportunity in China. a booming economy and mass urban migration are creating the conditions for accelerated growth in the Chinese banking sector. But, given that the government is deregulating and internationalising the market, competition is also increasing. as Bank of Shanghai appreciated when it made the decision to replace its core system, only the most agile players will truly be able to capitalise on the opportunities available. Bank of Shanghai (BOS) is the largest bank in China to have successfully replaced its core system with an international packaged solution. In 2002, it undertook a selection process that evaluated the option of an internal build alongside the option of taking a packaged solution from an international or local vendor. In the end, the banks desire to adopt international best practices saw it come down in favour of an international solution. Among the systems considered, T24 from Temenos emerged as the clear preference based on customer references, level of integration, implementation record, functional coverage and strength of business processes. A complex implementation involving high levels of localisation and process reengineering, the project was delivered fundamentally on time and on budget. The project was started in 2004 and T24 went live in the corporate bank in 2006 and in the retail bank in 2008. Since going live, T24 has acted as an important catalyst for Bank of Shanghais strong recent absolute and relative financial performance. jiang Hong, Vice President, Bank of Shanghai, comments: With T24, Bank of Shanghai has effectively future-proofed its IT infrastructure. We have a platform that is robust and scalable enough to support our ambitious growth plans. We also have a platform that allows us to standardise our processes and extract the scale benefits of growth. Lastly, the system allows us to have one complete view of the customer across all operations and gives us the flexibility to take advantage of this, by tailoring products and services to individual customer needs. By affording a single view of the customer, T24 has enabled seamless service across all channels, quicker decisions (mortgage approvals, for example, are given 75 per cent faster than before) and a differentiated experience for customers. Better customer service is translating into faster growth: in 2008, Bank of Shanghai grew loans at 18 per cent compared to the peer group average of 16 per cent, and deposits at 21 per cent versus the peer average of 19 per cent (A Temenos study benchmarking Bank of Shanghais performance against 22 similar sized Chinese city commercial and joint stock banks is available on request). We also estimate that the bank grew revenue per customer by around 16 per cent. T24 has dramatically reduced the cost and time to market for new products. Development times have been reduced by between 60 per cent and 75 per cent and development costs by even more. BOS is launching new (often truly pioneering) products on average every one to two weeks. It was the first bank in China, for example, to launch a joint retail and corporate card. In the last two years, the bank has grown fee-based income at a compound rate of 25 per cent, to a level that is 1.6 times the average for city commercial banks and its net interest margin, for the first time in 2008, overtook the level of peers. As an integrated and robust solution, T24 has allowed BOS to extract IT economies of scale as it has grown. In 2008, the bank grew its operating income by 28 per cent and added around 700,000 new corporate and retail customers, yet its IT headcount increased by only 68 people. We estimate the banks ratio of IT costs to total costs to be around 4.8 per cent, translating into an IT cost to income ratio of 2 per cent. To put these figures in context, the banks IT/total cost and IT/income ratios are, respectively, 71 per cent and 82 per cent below the average for European retail banks (source: Boston Consulting Group). Furthermore, its ratio of IT cost to total assets is 44 per cent lower than that of other Chinese banks. By offering up-to-date, integrated and complete information, T24 has help to considerably improve risk governance and management decision-making. Non-performing loans (NPLs), for instance, have fallen continuously since 2006. By the end of 2008, the banks level of NPLs was 2.2 per cent compared to 2.3 per cent for the peer group and 2.4 per cent for the Chinese banking sector as a whole (source: CBRC). In 2008, Bank of Shanghais return on capital was 125 per cent higher than the average for the top 1,000 banks (source: The Banker) and 15 per cent higher than domestic peers.
12
TEMENOS NEWS
We believe that the AML market offers significant growth potential and our success in penetrating this market will prove an important factor in executing our ambitious growth plans for Temenos
Andreas Andreades, CEO, Temenos
TEMENOS NEWS
13
an introduction to TEMEnOS aML New legislation has forced financial institutions to place anti-money laundering (AML) at the heart of their business and to incorporate prevention policies into their operational management strategies. These obligations have increased the need for banks to ensure they have effective AML procedures in place. In response, TEMENOS AML (AML) has been developed to provide a comprehensive business solution that offers banks the software and expertise required to improve their approach to anti-money laundering, and comply with all legal obligations. There are two key products within AML: AML Profile (Profile) is an anti-money laundering system that monitors transactions in order to identify unusual patterns. It analyses single transactions as well as clients behaviour over a period of time in relation to their segmentation, facilitating reporting to the authorities where appropriate. Using an elegant set of algorithms, it provides great flexibility in defining rules adapted to the banks business and client base. Profile receives client, account and transaction data from T24 in batch mode. It is also capable of real-time analysis in order to block transactions before execution. for its core banking solution, interfaced with existing V.bank modules. TF Bank plans to complete its IT system with the online banking offering from V.bank in order to create new portals for individuals and corporate customers in France, Tunisia and elsewhere in Europe. TEMEnOS aML for Barclays Barclays has chosen TEMENOS AML (AML) for its Payments Consolidation and Next Generation (PCNG) screening solution. AML was benchmarked against other market leading competitors and proved to be the fastest and most operationally efficient offering. It will be deployed globally to replace existing platforms and consolidate payments and transactions screening. As the solution of choice for Barclays, AML includes Linguistics, which will enable the banks Next Generation Programme to achieve superior levels of screening. The application of Linguistics in Barclays is a sophisticated solution to address the increasing challenges of cultural variations and subtleties. This heightened detection capability is coupled with industry leading intelligent false positive reduction methods from Temenos, designed to drive down total cost of ownership and increase operational efficiency. Paul Fabara, Managing Director and Global Head of Operations, Regulatory Implementation and Planning at Barclays, commented, After a rigorous technical assessment of the leading sanctions screening solutions available, the decision to select Temenos for the Barclays global initiative was relatively easy. The banks approach to global compliance is unequivocal we want to lead by example and have found the right product to help us protect that position. AML Screen (Screen) is a sophisticated screening solution. Integrated into T24, it screens customers and transactions against sanctions watch-lists published by regulatory authorities such as OFAC, as well as databases of politically and financially exposed persons, such as those maintained by independent list providers. In its standard configuration, Screen provides watch-list management, compliance case review and skip management. It has preconfigured statutory reports in an ergonomic, optimised user interface. In addition, a dedicated module helps banks run periodic scans of their entire customer files. Screen also exists as a packaged out-of-the box solution to meet the needs of smaller financial institutions in combating terrorism financing. This T24 module screens customers and transactions against sanctions watch-lists and databases published by regulatory authorities such as OFAC and the European Union.
an introduction to TEMEnOS STeP payments repair TEMENOS STeP payments repair is a tool that repairs and enhances payment messages, in a variety of formats. It is integrated with T24 for both inbound and outbound messages. In addition to the engine, the system has two optional components: Solver for operator-assisted repair and enrichment and Evaluation, which generates reporting to support back-charging and efficiency of STP rules.
14
TEMENOS NEWS
Banks need to offer a differentiated and highly personalised service, centred on relationships, not products
Ben Robinson, Director, Strategic Planning, Temenos
VIEWPOINT
TEMENOS NEWS
15
We believe that a process orientation, coupled with technology, is starting to redefine operating models
Gareth jones, Retail Business Development Director, Temenos
VIEWPOINT
16
TEMENOS NEWS
What really convinced BforBank was the flexibility and international nature of the Temenos system, as well as its wide coverage of front and back office functions
Vincent Chatard, COO, BforBank, Credit Agricole Group
CASE STUDY
BforBank
BforBank harnesses T24 for affluent online market
There has long been a demand for high quality online banking that meets the needs of the demanding affluent market. BforBank is providing this specialised service to high-end customers in France, and its banking engine is T24 from Temenos. An internet bank aimed at the affluent, BforBank offers savings accounts, life insurance and securities. The bank targets customers such as directors, doctors and professionals aged between 35 and 65 who want to manage their own money. Part of the domestic retail arm of Credit Agricole, BforBank is a business in its own right, with specific objectives and mission. BforBank attracts customers by offering access to a comprehensive, free repository of financial information on its website. The journey within the website involves a series of links, encouraging visitors to navigate through the website. Relevant approved products are recommended in ways that encourage interaction. Customers can use the tools on the site, including calculators and walkthough illustrations, to customise their own investment style. The BforBank website, built in 2009, harnesses user-generated content and is a repository of rich information, designed for interaction and engagement. It enables the bank to process stores of data into digestible, actionable intelligence for consumers. The system uses customer data to recommend appropriate products and manage upselling, and can offer a member incentive programme for referrals. The lean technology base and industry tools ensure a low cost base. Information is free to browse and all interactive features are free to use. Visitors must register to save any output from simulations, thus providing detailed customer information, which the bank can use to provide them with appropriate products. T24 pre-allocates accounts, so that when a customer opens an account all the necessary information is in the system. As a result, the bank can open accounts very quickly as there is no replication of data. BforBank chose T24 as the main database to handle accounting, customer files, regulatory reporting, prospects and products. The banks customer advisors benefit from having all data residing in one location to help them deal with queries quickly and fully. T24 sits on servers owned by the Credit Agricole group. A major strength of the BforBank approach is the real-time system that T24 provides for the bank. This allows for ease of integration through open solutions, data and services in XML, says Vincent Chatard, COO, BforBank, Credit Agricole Group. What really convinced BforBank was the fle xibility and international nature of the Temenos system, as well as its wide coverage of front and back office functions. With the aim of being the first true internet personal bank, BforBank offers its customers the quality of information and range of tools available to financial advisors, so that they can become their own private bankers. The banks slogan, Mon banquier cest moi (My banker is me), reflects the empowerment of individuals to handle their own financial affairs. Customers input their own data and can manage their accounts, make comparisons, and access calculators and tax reports. Deposits are invested with Credit Agricole, which primarily handles investment in low-risk, AAA rated securities. As the only international vendor that BforBank considered, Temenos won the contract in the face of competition from French core banking vendors, Viveo (now acquired by Temenos) and SAB. The project started in February 2009 and Temenos supplied the system in july and after trials, it went live in October 2009. Temenos key differentiators against international competitors were its presence in France and the flexibility and scalability of T24 set it apart from local solutions. BforBank targets an addressable market of four million affluent customers with a savings balance of EUR30,000 or more. Having opened 15, 000 accounts in less than three months, the bank has set a goal of 40,000 accounts per year, which over five years would allow for a market share of around 7 per cent.
TEMENOS NEWS
17
Were looking to drive out operational slack and improve customer service, and what we saw with Temenos was a maturity of straight-through processing
Fred Cook, NSCU chief information officer
CASE STUDY
18
TEMENOS NEWS
Effective partnerships are one of Temenos greatest strengths, underpinned by our commitment to open solutions, and our alignment with the three major technology stacks
A partnership approach
This is the time of year when Temenos, our clients and our partners gather at the Temenos Community Forum (TCF) to review and plan for the opportunities ahead. At Temenos we understand that our clients can derive more benefit from our products if they are efficiently aligned to the services and products from our partners. This article will look at those partners that provide the platform technology that is needed to operate an efficient and modern banking system. Effective partnerships are one of Temenos greatest strengths and are underpinned by our commitment to open solutions, and our alignment with the three major technology stacks in the market. Id like to explain how these essential elements work together for the benefit of our customers. Why do we have an open systems strategy? We believe that it is essential that we do not restrict the choices available to our clients. Partners enable us to offer our software on a wider range of technology platforms than any other core banking vendor. This is important in that we do not dictate any particular technology, but leave the choice to customers enabling them to achieve the lowest total cost of ownership (TCO) or to leverage existing skills, investments or vendor relationships in order to achieve the highest possible return on investment. When you consider that our diverse client base includes both smaller microfinance institutions and larger multinational banks, then it becomes immediately obvious that technology requirements will differ greatly. We partner with a variety of different types of organisations in order to offer the fullest possible service and options to our clients. Our services partners, such as Cognizant, allow Temenos to offer customers more choice over which advisors they use and give them access to world-class business management and product delivery skills. In order to become a Temenos certified service partner, organisations must commit to training significant numbers of consultants as well as committing to use the established methodology for implementing our software thereby combining these organisations expertise with the proven products, methodologies and tools that Temenos offers. Core banking systems represent substantial investments in time and effort and for these reasons they are built for the long haul, with most core systems supporting their banks for at least 10 years and some lasting up to 30. Open systems provide the necessary flexibility to deliver the best solutions to our clients today and into the future. It means that as particular technologies adapt, evolve or are replaced we are in a position to help clients transition to the new technologies with the lowest possible effort and risk.
However a commitment to openness does not mean that we can remain unaligned to those technologies that are most beneficial and most popular with our clients. This is particularly true in the area of databases, application servers and operating systems where we have worked closely with our partners to ensure that T24 exploits the capabilities of the chosen platform to reduce cost and improve performance for our clients. In practice this means that we align our products with the three industry leading technology stacks; those from IBM, Microsoft and Oracle. We also have particularly strong relationships with those partners that provide the underlying hardware on which our solutions run, most importantly with Hewlett Packard. The theme of this years TCF is Innovation, service and efficiency the route to profit. We show our commitment to innovation by remaining an open solution whilst having clearly aligned partnerships. Our clients can benefit from both the innovation and service that both we and our partners provide. Clients get all the investment that Temenos makes into the product, along with the flexibility that allows them to innovate and they can get exactly the same benefits and flexibility from whichever platform they choose. The end result is efficiency and profit.
Temenos Community Forum 2009, in Monaco
Business Process Consulting Implementations Upgrades Legacy Data Migration Testing Global Delivery & Support
Have a 1-2-1 meeting with a Cognizant consultant, email temenos@cognizant-event.co.uk today to RESERVE A TIME THAT SUITS YOU Enter our FREE PRIZE DRAW to win an Apple iPad
Germany
Torhaus Westhafen, Speicherstrasse 57-59 60327 Frankfurt am Main Phone: +49 69 27 22 695-0 Fax: +49 69 27 22 695-11 E-Mail: sales.de@cognizant.com
Continental Europe
Zuidplein 54 1077 XV Amsterdam The Netherlands Phone: +31 20 524 7700 Fax: +31 20 524 7799 Email: infonl@cognizant.com
World Headquarters
500 Frank W. Burr Blvd. Teaneck, NJ 07666 USA Phone: +1 201 801 0233 Fax: +1 201 801 0243 Toll Free: +1 888 937 3277 Email: inquiry@cognizant.com
www.cognizant.com
The data for this analysis comes from The Banker - Top 1000 banks 2009. Average values for Temenos customers compared with average values for all other banks.
For more information on Temenos or to understand how its marketleading software helps banks all over the world to outperform, please visit www.temenos.com/profit
Corporate & Correspondent Universal Islamic Private Wealth Microfinance & Community
www.temenos.com
Telephone: +41 22 708 1150 | Fax: +41 22 708 1160 | Email: profit@temenos.com
TEMENOS, TEMENOS, The Banking Software Company and TEMENOS T24 are trademarks of TEMENOS HEADQUARTERS SA