“We are delighted to now be offering our clients a complete business intelligence product suite which has proved to be an excellent fit with T24’s functionality. High quality, real time information is clearly a strategic asset for banks and has become even more vital to their survival in this era of economic uncertainty.” comments Andreas Andreades, CEO, Temenos, “Banks across all sectors and geographies will now be able to explore enterprise data in depth, automatically identify trends, implement effective risk management and compliance strategies and rapidly uncover hidden opportunities. As a result, banks are able to allocate capital to the most profitable activities for improved business performance.”

Jim Eckenrode, Banking and Payments Research Executive, Tower Group comments: “Going forward, we believe that business intelligence as part of a larger effort at improving customer and business insight will be critical to success in the global banking industry. With competition intensifying, data volumes exploding, and risk management moving to the forefront, developing a robust capability to manage information is no longer a nice-tohave.”

Using Insight, banks can generate daily profitability reports across portfolios, products, departments and branches throughout the entire enterprise to assess performance against organisational and market changes, creating an agile and adaptable business environment. As it is fully integrated with T24, Insight will enable banks to build on the customer centric nature of T24. Last September, banks using T24 were able to assess the counterparty exposure that the Lehman Brothers collapse had on their businesses in just 30 minutes. Banks can now generate this type of information immediately with Insight, to gain a stronger understanding of client attitudes, behaviours, profitability and counterparty risk for smarter retention and acquisition strategies.

Insight is compatible with all past and current releases of T24. As the enterprise data is imported from T24, information can be presented within a structure that reflects the way in which a bank operates to simplify and lessen future support requirements, reduce risk and lower the cost compared to a standalone business intelligence system.

As a fully integrated solution, Insight automates the T24 data capture process, reducing risk of errors and giving staff more time to focus on creating value-add analysis, ensuring rich information is leveraged so trends across customer segments, regions and business areas can be quickly identified. In addition, as Insight is underpinned by Microsoft technology which is familiar to most users, relevant and accurate information will be accessible to more staff, removing the need for specialist skills to generate enterprise intelligence.

David Vander, Managing Director of Worldwide Banking Industry, Microsoft, says: “Microsoft and partners such as Temenos together provide solutions to financial services customers globally that improve corporate performance and drive new operational efficiencies. Temenos Insight on Microsoft SQL Server 2008 provides significant business intelligence capabilities that drive a strong connected experience for financial services customers both today and the future.”

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 52 offices worldwide, Temenos serves over 700 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. Temenos is top of the IBS Sales League Table 2009, winner of the Best Core Banking Product category in Banking Technology magazine’s Readers’ Choice Awards 2008, winner of the Financial-i Leaders in Innovation award for the most innovative core banking systems solution 2008 and is listed in the American Banker top 100 FinTech companies.