Vietnam's Sacombank has contracted with Switzerland-based Temenos for the supply and implementation of the vendor's real-time banking platform T24.
T24 will replace the bank's existing legacy system, called SmartBank, and will support banking operations across its 60 branches nation-wide.
The platform will provide support across several business areas including, general ledger, customer information management, deposits, credit products and services and trade finance.
Temenos says T24 was selected following an extensive evaluation process that commenced in late 2003 involving vendors such as i-flex, Infosys and Korea's IMS.
Dang Van Thanh, chairman of Sacombank, says "We chose Temenos T24 because it is a revolutionary banking platform that will give us real-time, end-of-day processing, built on an open architecture. We anticipate that Temenos T24 will provide a high degree of automation that will greatly enhance our operational efficiency."
The bank is the first in Ho Chi Minh to implement T24. Temenos says the Asia Pacific core processing market represents a huge growth opportunity for the firm.
Separately, Temenos says benchmark tests have shown its T24 system can perform 16,000 transactions per second.
The tests were conducted on HP Integrity and Superdome servers running Oracle Database and HP-UX 11i v2.
The first test evaluated the speed at which account accruals could be processed for a 13 million account database and resulted in 16,250 accruals being processed per second. The second test involved injecting online transactions into the banking system. A rate of 2,153 transactions per second was achieved with CPU utilisation across the available server capacity ranging between 40% and 60%, providing considerable additional capacity for further increases in transactions.
Temenos says the results demonstrate that a bank could perform account accruals across 13 million accounts in less than 14 minutes and process over 55 million online transactions in an eight hour day.