The Core Banking Group (TCBG) has announced the acquisition of Verisim, a provider of e-simulation solutions.

The acquisition, according to TCBG, will rapidly expand the company’s application lifecycle management (ALM) portfolio. The use of e-simulations, it argues, negates the need to set up and maintain expensive training environments when introducing staff to new software.

TCBG provides ALM solutions for Temenos’ T24 banking system, including performance testing and change management.

Creating e-simulations of the T24 system, it believes, is crucial in the banking industry to keep up with compliance, data security and privacy regulations.

Efficiency

Andrew Ruffell, CEO at TCBG, says that ‘easy familiarisation with menus, screens, workflows and related system behaviour’ is important in increasing the effectiveness of clients in their use of banking software.

Following the acquisition, he adds, TCBG customers will have access to ‘200 out-of-the-box e-simulations’ training them in a variety of T24 processes.

The Core Banking Group is the result of a merger between Hungarian testing specialist FOT and UK consulting company Elixise. The former’s testing tool, Test Manager, has been on the market for eight years. Though the company had plans to branch out to other major core banking software, including Oracle and Misys offerings, its focus still lies mainly with Temenos’ T24.

Financial details of the acquisition were not disclosed.