Temenos (SIX: TEMN) today announced that Raiffeisen Bank dd Bosnia-Herzegovina, a member of Austrian-based Raiffeisen Bank, has successfully gone live with Temenos Core for retail banking.
The core modernization marks a significant milestone, enabling Raiffeisen Bank dd Bosnia-Herzegovina to enhance customer experience and drive greater efficiency.
Raiffeisen Bank is one of Austria's leading corporate and investment banks, with €200bn of total assets and subsidiaries in 11 Central and Eastern European markets. Its Bosnian network unit is the second largest bank in Bosnia-Herzegovina, serving around 500,000 customers across the retail, corporate and SME segments.
By migrating from its legacy system to Temenos, Raiffeisen Bank dd Bosnia-Herzegovina has migrated its current account operations in the country to the same modern, agile core banking solution already in use in other markets of RBI, including Kosovo, Slovakia and Poland. This will help the bank to streamline operations and automate processes for increased efficiency and an improved customer experience.
Deployed on Red Hat’s OpenShift hybrid cloud, Temenos’ scalable, cloud-based solution will help Raiffeisen Bank dd Bosnia-Herzegovina to future-proof its operations, supporting its growth ambitions and enabling the migration of additional capabilities over time. Temenos’ flexible, API-based architecture and comprehensive functionality will also enable the bank to drive faster time to market and reinforce its reputation for innovation in Bosnia-Herzegovina.
The successful implementation was the result of close collaboration between Temenos, delivery partner Tech Mahindra and Raiffeisen Bank’s own specialist team, certified for its in-depth knowledge of Temenos solutions.
Kreshnik Halili, Board Member for Operations and IT, Raiffeisen Bank dd Bosnia-Herzegovina, said: “This go-live with Temenos is an important part of Raiffeisen’s mission to transform continuous innovation into superior customer experience. Temenos’ modern, integrated core banking solution, which has already proven its worth in other parts of the RBI group, will give us increased efficiency and flexibility for our operations in Bosnia-Herzegovina. This will help us to drive continued growth in this important market, building on our leading position and strong reputation for innovation.”
Mark Yamin-Ali, Managing Director - Europe, Temenos, commented: "Congratulations to Raiffeisen Bank dd Bosnia-Herzegovina on this successful implementation. We’re proud to build on our longstanding relationship with one of Austria’s largest banking groups, helping them bring the benefits of Temenos’ market-leading core banking solution to another European market. This success showcases Temenos' strong delivery capability as we work to modernize financial institutions by building on the most trusted, industry-leading technology solutions.”