T24 is a thin client, scalable, integrated, modular banking system, built on open system principles, and uses established technology standards such as HTTP, XML and HTML. It offers a single client view across the enterprise and can support large numbers of users with true nonstop resilience. Its fully-integrated architecture enables it to offer a significant cost advantage compared to other competing products. It offers multiple application server support and is the only system available with no end-of-day batch processing and so can genuinely boast of providing realtime 24/7 non-stop banking.
Angelica Stein, head of business systems of Investec Bank Australia, said: Our private banking customers require sophisticated and highly tailored products. Therefore, we need a flexible system to cater for this and that can also provide internet banking capabilities on a single open platform. We chose T24 as it can meet all of these immediate challenges and support future growth. With T24, we will be able to roll out new innovative products quickly and smoothly, improve management reporting, have greater client focus with the added benefit of a reduced total cost of ownership.
Andreas Andreades, CEO, Temenos, said: Australia has a mature banking market and this deal provides us with a significant footprint in the region. It is also an important endorsement of our open technology, which can support Investec Bank Australia’s existing technical requirements such as Microsoft SQL Server. By eradicating a fragmented infrastructure, the bank can improve efficiencies and future-proof its business.
