Temenos Forum Gathers 400 Bankers, Investors, Others
The recent TEMENOS client forum in Prague reunited over 400 worldwide bankers, key investors and industry analysts as well as business partners such as International Business Machines (IBM), Oracle, HP and Microsoft. The occasion was also used to announce the contract won by the company to supply real-time banking services for Sacombank and mure than 60 branches nationwide. The TEMENOS T24 solution will support Sacombank at over 60 branches nation-wide, for over 200,000 accounts, and 120,000 customers.
TEMENOS, represented in Nigeria by Inlaks Computers Limited, is a leading provider of integrated, core banking systems in the world. According to a statement, Sacombank selected TEMENOS following an extensive evaluation process that commenced in late 2003 involving banking solution providers such as, i-Flex, Infosys, and Korea's IMS.
Mr. Dang Van Thanh, chairman of Sacombank said: "We chose TEMENOS T24 because it is a revolutionary banking platform that will give us real-time, end-of-day processing, built on an open architecture. We anticipate that TEMENOS T24 will provide a high degree of automation that will greatly enhance our operational efficiency and reinforce Sacombank's reputation as the region's premier bank, from a partner that is a proven supplier in the banking market."
TEMENOS T24 will replace the bank's existing legacy system called SmartBank, and provide support in several business areas including, Commercial and Retail Corporate, including General Ledger, Customer Information System, Deposit Products and Services, Credit Products and Services, Management Information System and
Trade Finance.
Mark Cullinane, regional director, Asia Pacific, TEMENOS, said: "By deploying TEMENOS T24, Sacombank will have a state of the art banking solution that will support the demands of both their current and future business strategies. This is the first bank in Ho Chi Minh to implement T24, paving the way for Sacombank to become a
leading bank in the region. T24 represents the new face of banking, delivering real-time, highly efficient and truly resilient non-stop services."
With this implementation Sacombank can also explore the opportunity to expand its income streams as well as enhance its banking performance, service efficiency and executive information as one of the most successful
commercial joint stocks banks in the promotion of small- and medium-sized enterprises in Vietnam and the region.
Andreas Andreades, chief executive officer said: "The relatively untapped Asia Pacific core processing market represents a huge growth opportunity to us. The addition of Vietnam's leading commercial bank to
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