Temenos (SWX: TEMN), the global provider of integrated core banking systems, today announced that Queensland Treasury Corporation (QTC) in Australia, has selected TEMENOS T24 (T24) as the core platform of their Onlending and Investment Administration (OLIA) solution. QTC, as the Queensland Government's central funding authority and corporate treasury services provider, signed the deal with Temenos as part of a program to increase the flexibility of its products and service efficiency for its customers.
To improve its ability to respond to changing customer needs, QTC is actively reviewing the systems capabilities that support the delivery of its lending and investment products. After a rigorous evaluation process, QTC selected T24 as the cornerstone solution to replace a portfolio of internally developed legacy applications. QTC selected T24 for its flexibility and ability to integrate with broader corporate information initiatives.
Andreas Andreades, CEO, Temenos comments: "Queensland Treasury Corporation is our third new win into the Australian market in less than 18 months and demonstrates the eager take up of T24. We consider QTC a prestigious client that signifies our continued growth in this marketplace and will strengthen our position as a leading core banking solutions provider in the region"
T24 is able to easily integrate into QTC's existing systems environment using XML and Web Services and will also be running on the institution's' preferred hardware and database options, Windows Server with an Oracle database. The system is expected to go live in middle of 2010. QTC is also using Temenos Application Management (TAM) Services to roll out the T24 system.