It's your Mortgage Day!
T24 and Insight to transform retail banking operations and product-building capability.
GENEVA, Switzerland – 10 January 2014 – Temenos (SIX: TEMN), the market-leading provider of mission-critical solutions to the financial services industry, today announces that it will be providing KBC Bank Ireland with T24, its multi-award winning core banking system, as well as its Insight Business Intelligence suite, as the bank continues to transform itself into a full retail bank.
KBC Bank Ireland has been operating in Ireland for 40 years, and its parent KBC Bank NV is one of Europe’s largest banks. KBC provides business and personal banking services to customers throughout Ireland, with approximately 800 employees. KBC Bank Ireland launched a new current account proposition to retail consumers in September with full online and mobile banking capability. The Bank also opened retail hubs in Limerick and Galway in addition to the existing hubs in Dublin and Cork.
Jean-Michel Hilsenkopf, Temenos Regional Director for Europe, said: “We are delighted that KBC Bank Ireland has chosen Temenos as its core banking system provider. Our platform will enable it to upgrade its systems in order to offer superior service to the Irish market. A key consideration for the bank was T24’s product-building capability that will allow it to offer flexible and innovative products that can be brought to market quickly without the need to write bespoke code.”
Rudi Peeters, KBC Group Chief Information Officer, commented, “Our purchase of Temenos’ products highlights our commitment to the Irish market. We want to offer a complete range of modern financial services, underpinned by a distinctive customer experience, and working with Temenos provides us with the opportunity to do that.”
Commenting on today’s announcement Wim Verbraeken, Chief Executive of KBC Bank Ireland, said: “We are seeking to harness the opportunities that now exist within the Irish market as the banking landscape changes. Consumers are recognising us more for our personalised customer service, our innovative approach to our products and online banking and by working with the Temenos solution we will be delivering that superior service that customers want when it comes to their everyday banking requirements, giving them the choice of a real alternative for their banking needs”
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Founded in 1993 and listed on the Swiss Stock Exchange (SIX: TEMN), Temenos Group AG is the market leading provider of banking software systems to retail, corporate, universal, private, Islamic, microfinance and community banks, wealth managers, and other financial institutions. Headquartered in Geneva with 58 offices worldwide, Temenos software is proven in over 1,500 customer deployments in more than 140 countries across the world. Temenos’ products provide advanced technology and rich functionality, incorporating best practice processes that leverage Temenos’ expertise around the globe. Temenos customers are proven to be more profitable than their peers: in the period 2008-2010, Temenos customers enjoyed on average a 30% higher return on assets, a 46% higher return on capital and an 8.5 percentage point lower cost/income ratio than banks running legacy applications.
For more information please visit www.temenos.com
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About KBC Bank Ireland
KBC Bank Ireland has been operating in Ireland for 40 years and has been a member of the KBC Group since 1978. KBC Group is an integrated bancassurance group which operates across Europe and to a lesser extent in the USA and South East Asia. Headquartered in Brussels, KBC is one of the top three financial institutions in Belgium and has had a presence in Ireland since 1978. KBC Group NV is KBC Bank Ireland's ultimate parent, with KBC Bank NV being our immediate parent. KBC has 9 million customers in the core markets of Belgium, Central and Eastern Europe.
Karen Jones, Gibney Communications, 01 661 0402 / 086 866 4501
Mark Leech, Gibney Communications, 01 661 0402 / 087 905 3679