At TEMENOS Client Forum in Monaco, Microsoft today announced that it has formalised its relationship with integrated core banking systems vendor, TEMENOS.
Using Microsoft technologies, the two firms are working together to help ensure TEMENOS T24, a modular core banking system, is one of the most cost-effective, scalable and reliable solutions for the banking sector. A Taiwanese bank, Jih Sun International, is one of the first financial institutions to sign up for the new Microsoft-based TEMENOS T24 core banking solution.
Microsoft and TEMENOS are both focused on ensuring interoperability and supporting open standards for their customers. Over the last 12 months TEMENOS has demonstrated its commitment to Microsoft technologies by making TEMENOS T24 available on Microsoft Windows Server 2003 and developing an adapter for Microsoft BizTalk Server 2004. By linking TEMENOS T24 and BizTalk Server 2004, financial institutions can easily integrate TEMENOS T24 banking functions with other applications or bespoke developments using BizTalk Server's tools and capabilities. TEMENOS has also been participating in the Microsoft Ascend Program for Yukon in order to provide support for Microsoft SQL Server 2005. Although in the investigation phase, TEMENOS T24 is expected to provide production support for Microsoft SQL Server 2005 in the third quarter of 2006.
Commenting on the extended relationship between Microsoft and TEMENOS, Anders Abrahamsson, the managing director of Financial Services Industry for Microsoft Europe, Middle East and Africa, said, "As customers demand 24x7 access to their banking services via any channel they choose, financial institutions are under pressure to ensure that their core banking systems are up to the challenge of real-time processing. Together, Microsoft and TEMENOS will offer financial institutions the opportunity to make real-time a real possibility."
"TEMENOS T24 is built on an open architecture and offers state-of-the-art core bank processing on multiple platforms. The partnership with Microsoft enables us to increase the choice of technology that institutions may use to install TEMENOS T24. The completion of the Jih Sun project this year will enable the bank to run its operations on a Microsoft platform and support large numbers of users and customers in a true 24x7 mode and with true resilience," said Andreas Andreades, CEO of TEMENOS.