Swiss vendor Temenos has signed Dominican Republic-based The Popular Association for Savings and Loans (APAP) to its T24 core banking platform.
Supporting APAP's retail operations, T24 will be rolled out across 47 branches, serving over 800,000 customer accounts.
T24 replaces a 20 year old in-house legacy system and several other locally developed applications. The bank is installing a pre-configured version of the platform - T24 Model Bank for Retail Banking - to reduce implementation time and costs, minimise customisation and lower the project risk.
The vendor says T24 will streamline processes and operations across the business for improved information management within a SOA environment, to support the association's future product and volume growth.
APAP has also signed for Temenos Arc, a front office software product for customer retention and cross-channel selling, to support its Internet banking and operational and analytical CRM.
José Frank Almeyda, VP, operations and technology, APAP, says: "We believe that T24 will help us develop and take new products to market quickly, and increase the quality of our customer service. With our additional investment in Arc we will significantly improve our ability to cross-sell to our existing client base, as well as acquire new customers based on our new enhanced and holistic customer insight."
APAP is using Temenos Application Management services to roll out the T24 system, which will be installed by a joint team. The platform will be deployed on HP Integrity rx3600 Servers with an Oracle database and is expected to go live in 2010.