Informer Financial (IFSIL), one of EMEA's most experienced implementers of integrated banking solutions, announced that Commercial International Bank (CIB) has successfully completed, in record time of 2 months, a complex upgrade from Temenos T24 R05 to Temenos T24 R7 under jBase platform.
CIB is the largest private bank and amongst the top-5 banks in Egypt and operates the system in all of its 140 branches to support its ever increasing base of 600,000 clients, 500,000 accounts and 100,000 contracts.
This credential comes, undoubtedly, along a series of challenging and ever demanding projects that have tested and surpassed the 'cooperation relationship' that has been established for quite some time between CIB and INFORMER Financial. INFORMER Financial established its first relationship with CIB on the basis of TEMENOS T24 core-banking implementation in 2005 along with IFSIL's proprietary LO24 solution, covering end-to-end all lending facilities for Retail, Corporate and SME's, while bringing the bank 'live' in just 6 months. Since then, CIB chose to proceed with almost all of the T24 business and technical functionality, including the implementation of additional product components proprietary to INFORMER Financial - like b-Direct for alternative channel management - to further support its growing business needs while enhancing the functionality of its state-of the-art core banking system. Moreover, this trusted relationship naturally led the decision to upgrade to the latest version of TEMENOS T24 with the cooperation of one of the most experienced TEMENOS' Authorized Systems Integration Partners, INFORMER Financial.
Simos Simoudis, Chairman & CEO of INFORMER Financial stated: "We are very proud to have efficiently completed this challenging upgrade project, empowering CIB with the latest and most advanced technology to proceed ahead with its growth plans. Having completed the process multiple times, in Greece, Egypt and worldwide, proves that INFORMER Financial is very well equipped to fast-track project implementations and reduce the long term cost-of-ownership for its clients, enabling them to rapidly deploy innovative new products and services that meet the evolving needs of their business."