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LarrainVial to Centralise Operations with T24
GENEVA, November 7, 2011/PRNewswire-FirstCall/ --
Temenos (TEMN:SW), the market leading provider of banking software,
today announced that LarrainVial, one of Chile's most prestigious financial
services groups with offices in Chile, Peru, Colombia, Mexico, Brazil and
the United States, will replace its legacy core banking system with TEMENOS
T24 (T24). The institution will deploy T24 to support its retail banking
clients' domestic and international holdings.
In order to better respond to its clients' increasingly sophisticated
needs, LarrainVial needed a new core banking system that was able to support
both its domestic and new international products and services from one
platform. This will enable the company to increase its business agility by
delivering a single enterprise view to rapidly offer a broad range of highly
personalized services, as well as reduce systems complexity and associated
costs.
After considering local vendors, LarrainVial chose Temenos based on the
functional richness and product superiority of its internationally acclaimed
T24 system and the geographical and operational diversity of its 1,500
strong installed base. Temenos' industry leading levels of R&D investment
showed LarrainVial its commitment to product development and support. In
addition, Temenos stood out as the only vendor with 100% positive client
references, compared to other vendors evaluated.
"When considering how to best grow our business and support our clients,
we knew we needed a technically robust and functionally rich core banking
system. We had already made significant investments to update our
technology; T24 was the only system that matched our sophisticated technical
architecture," said Juan Luis Correa, LarrainVial's COO. Jorge Verdejo,
LarrainVial's CPO added: "We took into account the feedback and satisfaction
of Temenos' clients," he said. Greg Green, President, Temenos Americas,
added, "We are delighted to add LarrainVial to our growing list of Americas
clients. LarrainVial conducted a thorough review process across the core
banking software market; we are proud that LarrainVial selected T24 as best
suited to meet their requirements today and into the future. We look forward
to growing our relationship and contributing to the bank's future success."
About LarrainVial
LarrainVial is a Chilean financial services group with 77 years of
experience in the Chilean market. It provides advisory services, financial
intermediation and asset management. The LarrainVial team is formed by over
730 people with broad experience in a wide range of financial services.
LarrainVial has operated in Chile since 1934, and expanded its operation to
Peru in 2004, Colombia in 2006, Mexico in 2007, Brazil in 2009 and United
States in 2010.
About Temenos
Founded in 1993 and listed on the Swiss Stock Exchange (SIX: TEMN
[http://www.swx.com/market/quote_chart_en.html?id=CH0012453913CHF4 ]),
Temenos Group AG is the market leading provider of banking software systems
to retail, corporate, universal, private, Islamic and microfinance &
community banks. Headquartered in Geneva with more than 60 offices
worldwide, Temenos serves over 1,500 customers in more than 125 countries
across the world. Temenos' software products provide advanced technology and
rich functionality, incorporating best practice processes that leverage
Temenos' experience in over 700 implementations around the globe. Temenos
customers are proven to be more profitable than their peers: data from The
Banker - top 1000 banks shows that Temenos' customers enjoy a 54% higher
return on assets, a 62% higher return on capital and a cost/income ratio
that is 7.2 points lower than non-Temenos customers.
For more information please visit http://www.temenos.com
Other Temenos contacts:
Max Chuard
Temenos Director
Corporate Finance & IR
Member of the Executive Board
Tel: +41-22-708-14-82
Email: mchuard@temenos.com
Petra Shuttlewood
Temenos PR Manager
Tel: +44(0)207-423-3751
Email: pshuttlewood@temenos.com
Sarah Bowman
Associate Director, Investor Relations
Tel: +1-646-472-8069
Mob: +1-646-752-5463
sbowman@temenos.com
Claire Barry
Hudson Sandler for Temenos
T +44(0)20-7710-8940
Email: cbarry@hudsonsandler.com
Lucy Clark
Hudson Sandler for Temenos
T +44(0)20-7710-8934
Email: lclark@hudsonsandler.com
Source: Temenos
.
LarrainVial to Centralise Operations with T24
GENEVA, November 7, 2011/PRNewswire-FirstCall/ --
Temenos (TEMN:SW), the market leading provider of banking software,
today announced that LarrainVial, one of Chile's most prestigious financial
services groups with offices in Chile, Peru, Colombia, Mexico, Brazil and
the United States, will replace its legacy core banking system with TEMENOS
T24 (T24). The institution will deploy T24 to support its retail banking
clients' domestic and international holdings.
In order to better respond to its clients' increasingly sophisticated
needs, LarrainVial needed a new core banking system that was able to support
both its domestic and new international products and services from one
platform. This will enable the company to increase its business agility by
delivering a single enterprise view to rapidly offer a broad range of highly
personalized services, as well as reduce systems complexity and associated
costs.
After considering local vendors, LarrainVial chose Temenos based on the
functional richness and product superiority of its internationally acclaimed
T24 system and the geographical and operational diversity of its 1,500
strong installed base. Temenos' industry leading levels of R&D investment
showed LarrainVial its commitment to product development and support. In
addition, Temenos stood out as the only vendor with 100% positive client
references, compared to other vendors evaluated.
"When considering how to best grow our business and support our clients,
we knew we needed a technically robust and functionally rich core banking
system. We had already made significant investments to update our
technology; T24 was the only system that matched our sophisticated technical
architecture," said Juan Luis Correa, LarrainVial's COO. Jorge Verdejo,
LarrainVial's CPO added: "We took into account the feedback and satisfaction
of Temenos' clients," he said. Greg Green, President, Temenos Americas,
added, "We are delighted to add LarrainVial to our growing list of Americas
clients. LarrainVial conducted a thorough review process across the core
banking software market; we are proud that LarrainVial selected T24 as best
suited to meet their requirements today and into the future. We look forward
to growing our relationship and contributing to the bank's future success."
About LarrainVial
LarrainVial is a Chilean financial services group with 77 years of
experience in the Chilean market. It provides advisory services, financial
intermediation and asset management. The LarrainVial team is formed by over
730 people with broad experience in a wide range of financial services.
LarrainVial has operated in Chile since 1934, and expanded its operation to
Peru in 2004, Colombia in 2006, Mexico in 2007, Brazil in 2009 and United
States in 2010.
About Temenos
Founded in 1993 and listed on the Swiss Stock Exchange (SIX: TEMN
[http://www.swx.com/market/quote_chart_en.html?id=CH0012453913CHF4 ]),
Temenos Group AG is the market leading provider of banking software systems
to retail, corporate, universal, private, Islamic and microfinance &
community banks. Headquartered in Geneva with more than 60 offices
worldwide, Temenos serves over 1,500 customers in more than 125 countries
across the world. Temenos' software products provide advanced technology and
rich functionality, incorporating best practice processes that leverage
Temenos' experience in over 700 implementations around the globe. Temenos
customers are proven to be more profitable than their peers: data from The
Banker - top 1000 banks shows that Temenos' customers enjoy a 54% higher
return on assets, a 62% higher return on capital and a cost/income ratio
that is 7.2 points lower than non-Temenos customers.
For more information please visit http://www.temenos.com
Other Temenos contacts:
Max Chuard
Temenos Director
Corporate Finance & IR
Member of the Executive Board
Tel: +41-22-708-14-82
Email: mchuard@temenos.com
Petra Shuttlewood
Temenos PR Manager
Tel: +44(0)207-423-3751
Email: pshuttlewood@temenos.com
Sarah Bowman
Associate Director, Investor Relations
Tel: +1-646-472-8069
Mob: +1-646-752-5463
sbowman@temenos.com
Claire Barry
Hudson Sandler for Temenos
T +44(0)20-7710-8940
Email: cbarry@hudsonsandler.com
Lucy Clark
Hudson Sandler for Temenos
T +44(0)20-7710-8934
Email: lclark@hudsonsandler.com
Source: Temenos
.