T24 News
China Merchants Bank selects Temenos’ US Model Bank to support New York operations

GENEVA, Switzerland – 8 October 2008 – Temenos (SWX: TEMN), the provider of integrated core banking systems, today announced that China Merchants Bank (CMB) New York, an overseas subsidiary of China’s most competitive bank, winner of the 2008 Euromoney ‘Best bank in China’ award, has selected TEMENOS T24 (T24) Model Bank US Platform. The system will support the bank’s newly established corporate banking business.

The bank chose Temenos over other vendors including Misys and Fiserv, for the New York subsidiary because of its ability to carry out a rapid, low risk implementation. Crucially, Temenos will also provide a bilingual support team with consultants based in both the US and China. This global approach was crucial for the bank, which needs to be able to communicate effectively across both sides of its business. The bank also required a system that could process transactions, manage customers and support the bank’s business across multiple countries, currencies
and languages.

Hui Fang, General Manager, CMB New York, says: “CMB is the first Chinese bank to receive a US licence since the Foreign Bank Supervision Enhancement Act was introduced in 1991. This is a high-profile project because it marks the end of a ten-year effort to establish operations in the US. We selected T24 because Temenos, the vendor, had committed to delivering a complete solution with a global coverage. We believed that Temenos could meet our extensive global requirements since it is already a trusted partner with our Hong Kong operation. Model Bank implementation is scheduled to go live later in 2008.”

The system will be implemented on IBM hardware at the bank’s New York office to support its high-speed, highvolume transaction processing and planned business growth. The New York branch will facilitate trade and other business activities between the US and China by providing trade service, trade finance, dollar clearing and other services to businesses from both countries. It is an essential part of CMB's overseas expansion strategy.

Andreas Andreades, CEO, Temenos, says: “This is a very important win for us. As the second leading Chinese bank to select T24 for its US operations, CMB’s selection of T24 has confirmed that Temenos is the premier provider of banking solutions for the US operations of international banks and it confirms our strategy to focus on this market segment. This will lead to a strong and long term relationship between Temenos and CMB.”

T24 is a functionally rich, scalable, and proven integrated banking system. It is delivered as a pre-configured Model Bank solution that incorporates industry best-practice, enabling fast and predictable implementations and immediate, measurable benefits. Temenos’ Model Bank approach allows a fast ROI and a highly flexible and responsive approach to banking ensuring maximum business agility based on T24’s flexible features. T24 offers integrated and comprehensive information on the institution at all times including a single customer view, and a single view of the enterprise including risk and profitability.

T24 incorporates modern technology including a comprehensive Service Orientated Architecture (SOA), fully enabled for standard, SOAP (Simple Object Access Protocol) web services, and BPEL process execution and compliant with industry leading ESBs (Enterprise Service Buses). T24 can be deployed on fully scalable, multiserver n-tier architecture. It provides a full front-to-back solution from electronic delivery channels such as mobile devices and internet banking right through to settlement, general ledger and other back office functions all in a fully integrated, reliable and cost effective environment. Temenos’ total commitment to open standards enables its customers to benefit from the latest advances in technology ensuring business agility, continuity, data integrity and reduced downtime delivering a significant, immediate and ongoing return on investment.

About China Merchants Bank

China Merchants Bank was founded in 1987 with its head office in Shenzhen, China. It is China's 6th largest bank by total assets with shares traded in both Shanghai and Hong Kong stock exchanges. As of December 31, 2007, CMB had total assets of USD187 billion with 576 branches and offices across China with over 30,000 employees. It generated USD3 billion net income in 2007.

CMB provides customers with various corporate and retail banking products and services, and conducts treasury activities for proprietary purpose and on behalf of its customers. CMB issues credit cards, and offers online banking and wealth management services in China.

About Temenos
Founded in 1993 and listed on the Swiss Stock Exchange (SWX: TEMN), Temenos Group AG is a global provider of banking software systems in the Retail, Corporate & Correspondent, Universal, Private, Islamic and Microfinance & Community banking markets. Headquartered in Geneva with 44 offices worldwide, Temenos serves over 600 customers in more than 120 countries. Temenos’ software products provide advanced technology and rich functionality, incorporating best practice processes that leverage Temenos’ experience in over 600 implementations around the globe. Temenos’ advanced and automated implementation approach, provided by its strong Client Services organisation, ensures efficient and low-risk core banking platform migrations. Temenos annually invests around 20% in R&D, significantly more than its peers, into a single fully packaged upgradeable software release, which ensures all Temenos customers benefit from modern technology and support indefinitely.

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For more information, contact:

Max Chuard
Temenos Director
Corporate Finance & IR
Member of the Executive Board
Tel: +41 (0) 22 708 1157
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Ben Robinson
Temenos Investor Relations Manager
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Petra Shuttlewood
Temenos PR Manager
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Evelina Amanatidou/Sole Chirco

Team 660
Metia for Temenos
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