Fortis Bank Nederland Goes Live With jBASE TechnologyThe Dutch bank's Singapore office has gone live with banking system provider Temenos' T24 platform. The process was completed in five months and was driven by Fortis Bank Nederland's (FBN) separation from its Belgian counterpart. It marks the first stage of a consolidation process which will see the T24 system rolled out internationally from a central hub in the Netherlands. The bank now plans to extend T24 to offices in the UK, US, Hong Kong and continental Europe and expects to complete the project by the third quarter of next year. "Having achieved a successful and rapid first phase go live, we are already seeing the adaptability and truly global nature of the T24 platform which will enable us to meet our challenging separation deadlines and fully support our corporate banking operations across the world at a reduced cost of ownership," says Frans van der Horst, FBN chief operating officer (COO). Using T24, Fortis will be able to generate a single customer view across all countries and currencies in which the bank operates, addressing local and international requirements spanning customer segments, products, regulation, currency, languages and taxation from one central point. Van der Horst adds that T24 will enable the bank to acquire a comprehensive and real time picture of all credit exposures across the corporate relationship for a sound understanding of counterparty risk - something which will be essential considering the bank's continuing focus on risk management and cost control. "This successful and rapid deployment further reconfirms T24 as the product of choice for the world's leading banks in providing unparalleled functionality and flexibility on the most modern architecture at a significantly lower cost of ownership compared to traditional, custom developed applications," says Temenos CEO Andreas Andreades. For more information visit www.temenos.com. |
About jBASE International jBASE International offers a suite of database management products and development tools. jBASE, the flagship product, provides a multidimensional database, a development environment including a development language, and a middleware component allowing other mainstream and standards-based products to communicate with the jBASE products. In 2002, Mpower1 International attained the worldwide support, distribution and existing client rights of the jBASE product set and embarked on a major investment program by reorganizing jBASE sales and support personnel into an independent sales, marketing and support channel for jBASE customers and partners world-wide. jBASE International’s distributor network spans the globe and is expanding in many areas including Australia and Europe. About Temenos Founded in 1993 and listed on the main segment of the Swiss Stock Exchange (SWX: TEMN), Temenos Group AG is a leading provider of integrated modular core banking systems. Temenos serves more than 600 customers in over 120 countries, supported by 44 offices with more than 2,300 staff made up of over 60 nationalities. Temenos’ only domain is banking software and their success is achieved by being completely focused on providing the best banking software available today. To this end, they consistently devote 20 percent of their revenues to research and development, higher than the average of their industry peers. Temenos software provides banks with a single, real-time view of the client across the enterprise, enabling banks to maximise returns while streamlining costs. They provide 24x7 functionality to the Retail, Corporate and Correspondent, Universal, Private Wealth Management, Islamic, Microfinance and Community banking sectors.
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