T24 News

Banque Internationale à Luxembourg (BIL), the oldest bank in Luxembourg, is embarking on a major tech overhaul. It will replace its legacy software with Temenos’ T24, Banking Technology understands.

Central Bank of Somalia is embarking on a major tech overhaul, with sponsorship from the World Bank.

There are a lot of people who have never heard about Temenos T24 before, even though it is one of the most commonly used core banking technology solutions. But even this core protocol has to evolve over time, and keeping an eye on new technologies is always a good business strategy.

Bank of Montreal Asia Pacific, part Canada’s BMO Financial Group, will implement Temenos’ flagship core banking system, T24.

New payment technology is transforming financial systems by allowing direct bank-to-bank settlements in real time, even for international transfers.

With the takeover of BSI by rival EFG International, Switzerland will see the creation of the country’s fifth largest private bank. Banking Technology looks at the IT implications, and the winners and losers of the deal.

Barclays could be offloading its French retail banking and wealth management divisions to private equity group AnaCap Financial Partners.

Two Malawian banks are set to come together in a merger that will result in job cuts and a Temenos-based core banking upgrade.

Bermuda Commercial Bank (BCB) has gone live with Temenos’ T24 core banking system (R13). The bank has also implemented Temenos’ business intelligence and analytics tool, Insight, and an AML solution.

Sudan-based Export Development Bank (EDB) has gone live with its new core banking system, Temenos’ T24. The Islamic bank implemented R13 of T24 and has also got Temenos’ Insight Financials tool.