Finance House, a greenfield financial services firm based in Abu Dhabi and due to launch in March 2005, has contracted with Switzerland-based Temenos for the supply of the vendor's real-time banking platform T24.
Finance House will initially implement the system to support its corporate and retail banking operations. The firm will then use the technology to introduce online banking services to customers.
Temenos T24 is a modular banking system that provides users with a single client view across the enterprise and removes the need for end of day processing.
Mohammed Alqubaisi, chairman of Finance House says the Temenos technology was chosen from a shortlist of 12 vendor bids.