The management team at Aizkraukles Bank plans to significantly benefit from further investing in the Temenos T24TM solution, which is essential to support its business plan and strategy for organic growth. The bank is looking to achieve a centralization of operations through a modern and powerful IT system, which will provide speed and efficiency of operations, whilst being capable to handle the anticipated growth of the bank's volumes as a result of the organic growth planned. Support of new innovative products and services as well as "time-to-market" are also expected as a result of this new investment.

Simos Simoudis, Chairman & CEO of INFORMER Financial stated: "We are honored to have been entrusted by the management of Aizkraukles Bank, especially with the tight and serious competition in place, to implement its new core banking system and deliver a fully integrated, turnkey solution to the bank based on T24 (the market leading core banking software from TEMENOS) along with other software and legacy components."

TEMENOS T24 is recognized as being one of the most technologically advanced core banking systems available in the world today with more than 500 clients across 111 countries.

Mr. Rolands Citajevs, Member of the Board, Aizkraukles Bank stated: "We are on track towards our strategic plan for aggressive growth in the coming years, through which a major enabler is the selection and implementation of a new fully integrated core banking system; hence we took a decisive step forward in this process by awarding this project to INFORMER Financial based upon a combination of critical factors. These included a successful implementation track record and experience replacing and integrating core banking systems internationally and developing exceptionally stable local platforms to ensure seamless compliance with country-wide statutory and central banking requirements. We anticipate an excellent co-operation with INFORMER Financial as a system integrator and a highly professional partner during the implementation project for our Bank. We hope that we will spend our maximum efforts together in this project for the realization of this high quality solution in order to achieve our business objectives.

George Agioutantis, Commercial Director, INFORMER Financial stated: "We view Latvia and the neighboring countries as an important market within our strategic radar and industry we operate, as the level of technological and business understanding is immensely advanced, in addition to substantial amount of foreign and cross-country investment synergies are created thus inducing further increase on the current growth potential."