Bank of China International (BOCIL) has launched private banking operations in Hong Kong on Temenos T24 Model Bank running on Microsoft SQL Server 2008. Temenos is a Switzerland-based provider of integrated modular core banking systems.
Temenos claims that its T24 platform will centralize BOCIL’s operations to deliver a 360 degree customer view, coupled with advanced, customer centric reporting and analytics so that investment managers can deliver personalized services through interactive dashboards.
A joint team of Temenos and BOCIL implemented T24, employing Temenos Application Management (TAM) Services for code development.
Temenos CEO Andreas Andreades said that the company is seeing a growing global trend among private banks in implementing out of the box solutions which offer the pre-configured, end to end functionality to run an agile, low cost business model compared to custom developed applications.
“We expect our product superiority to continue to open many doors for Temenos in this market across APAC, which is positioned as the fastest growing wealth management market in the world,” Andreades said.