EASTWEST Bank is migrating its core banking system to Temenos T24, a multiawarded global system used by other foreign financial institutions

EastWest Bank First Vice President and Head of Information Technology (IT) Group Randall Rogelio Evangelista said the banking industry has always been seen as IT-focused.

“EastWest Bank, for one, largely depends on its IT department to proactively develop and efficiently utilize IT systems and infrastructure to support business growth,” he said.

He said the migration to Temenos T24 is scheduled within the year and will enable for a more efficient service delivery across customer touch points to include branch services, automated teller machines or automated teller machines and Internet-banking capability.

EastWest has tapped Temenos T24 to keep up with the latest innovations on the growing demand for banking services.

Temenos supports banks in the pursuit of their growth plans. So-called aging legacy systems hinder banks from expanding and launching new products to the market.

Evangelista also said that EastWest is planning to launch its mobile app, a new online-banking platform and a more interactive corporate web site before the end of the year.

He underscored the role of IT governance in achieving business goals set by companies’ board of directors.

“IT governance is a set of management processes that measures whether an organization is optimizing use of IT. IT governance ensures that IT decision-makers are capable, authorized and empowered to make such decisions,” he said at the recent 2014 Information Systems Audit and Control Association IT Governance Summit held in Makati City.

Evangelista said, “Information Technology’s goal is always to enable or deliver a business requirement. This is why IT projects are always presented or justified together with business.”

Genivi Factao