T24 News

IT services provider Maveric Systems is aiming at almost doubling its revenue to Rs 650 crore by 2021-22, eyeing 45% of revenue from new lines of business that it entered two years ago, its chief executive Ranga Reddy said.

US-based mobile banking company Varo Money has signed for Temenos’s T24 core banking system, as well as the vendor’s Lifecycle Management Suite, which will be implemented on the Temenos Cloud.

Astralian challenger bank Judo Capital has selected Temenos’ core banking platforms to consolidate its position in the country’s business banking sector. The lender, which is currently in process of securing full banking licence from the Australian Prudential Regulation Authority, has selected Temenos’ T24 Core Banking, Channels, Analytics and Financial Crime Mitigation.

Temenos, the software specialist for banking and finance, today announced that a US-based Tier 1 global bank has selected Temenos T24 Core Banking as its global cash management platform for deposit transaction processing, internal account sweeping and interest compensation. The system, which will replace the bank’s legacy infrastructure, will be implemented progressively in multiple countries across the globe.

Meezan Bank, the largest Islamic Bank in Pakistan, has upgraded its core banking system, Temenos’ T24, to release 16.

Openbank, a digital banking subsidiary of Santander, has made its new core banking system decision – the bank has opted for Temenos T24. Infosys with its Finacle offering lost out in the final.

Guatemala-based Federacion Nacional de Cooperativas de Ahorro y Credito (Fenacoac) has selected Temenos’ RetailSuite core banking platform for its 25 co-operatives that operate under the brand Micoope.

UAE-based Arab Bank for Investment and Foreign Trade (Al Masraf) is modernising its front-to-back office technology with Temenos.

Sofgen, a Switzerland-based IT consultant and integrator in the financial services and banking space, is undergoing major organisational restructuring.

UK-based Private & Commercial Finance Group (PCFG) has had its banking licence restrictions lifted. The licence was granted in late 2016 and required the bank to undertake a number of actions before the restrictions could be removed – such as developing an enhanced governance framework and implementing new technology platforms.