Temenos (SIX:TEMN), the market leading provider of integrated core banking software, today announces that the Tunisian Foreign Bank (TF Bank) has selected Temenos T24 (T24) as part of a growth strategy to extend its services and branch network throughout Europe.
TF Bank is a universal bank incorporated under the laws of France and headquartered in Paris for European-based Tunisian capital. Its mission is to provide powerful financial leverage to Tunisians residing abroad - both private and corporate clients - and to European investors.
The bank already uses Regulation, Surfi and Basel II modules from former core banking specialist Viveo, which was acquired by Temenos in December 2009. Following the successful integration of the acquisition, the bank has opted to implement T24 as its core platform, demonstrating the complementary nature of Temenos and Viveo technologies.
Mr Habib El Montasser Sfar, President of TF Bank, concludes: "We wanted a software solution that provides long-term support to our development in France and Tunisia by covering three key issues: accelerating the handling of daily transactions, which will improve customer service quality, maximising flexibility and guaranteeing continuity by capitalising on the modules we already run. We believe that T24 will provide greater flexibility and an improved capacity for adapting to the expectations of our diversified clientele, be that retail, institutional or corporate. In addition to opening up new sources of productivity, this solution enables us to refocus our branches on selling banking products and services and advising clients. Lastly, T24 is expected to improve our client segmentation and service personalisation in Europe and Tunisia.
"Based on our positive experience with Viveo and our productive contacts with Temenos, we felt it was vital to rely on partners that understand our specific characteristics, our limitations and our scope of action. Our choice has been strongly reinforced by T24's rich functionality and Temenos' "model bank" methodology, which has already been well received by Tunisian banks. Our critical selection criteria were capitalisation of our investments in the V.bank modules, a technical and financial proposncial proposal tailored to our structure, and the quality of the teams".
Jean-Michel Hilsenkopf, Regional Director of Temenos, adds: "We are delighted to have an institution the size and calibre of TF Bank as one of our clients and to be able to support them in their new European ambitions. This signing also represents the first achievement of the union of Temenos and Viveo after only three months together. Team and product complementarity has made this success possible. The power of T24 combined with the V.bank modules and the expertise of the Viveo workforce justifies our major ambitions for the French-speaking market".
At the end of 2009 a few months after taking a new strategic direction, TF Bank was looking for an information system to match its new European ambitions. TF Bank set itself the task of replacing its specific software solution with an integrated core banking software package. The integration of Viveo in Temenos in December 2009 gave TF Bank the opportunity to discover the rich functionality of the T24 solution, as well as its complementarity and the possibilities for interfacing with V.bank modules already deployed at the bank.