Luxembourg-based Rakuten Europe Bank, a subsidiary of Japan’s e-commerce and internet company, Rakuten, has gone live with Temenos’ T24 core banking system and Temenos Connect for digital channels.

The project was delivered “on budget, on time and on feature”, Temenos states.

A local IT integrator and Temenos’ partner, Syncordis, assisted with the project delivery.

Syncordis is also working on another Temenos project in Luxembourg, at Advanzia Bank (an online bank focused on retail). The bank signed to replace its legacy solution with a Microsoft-based version of T24 in 2015.

Rakuten Europe Bank officially launched banking operations in Europe in early January this year. Initially, it will focus on providing payment, deposit and loan services for merchants on the PriceMinister e-commerce platform in France.

Rakuten’s European headquarters were originally set up in Luxembourg back in 2008. Banking licence was acquired in February 2015 and the deal with Temenos was signed later that year.