Temenos has announced that Banque Internationale à Luxembourg (BIL) selected it to provide the software solutions for a major system transformation project.
The project will see Temenos software used across the bank’s full operations in retail banking, private banking and corporate banking.
In a move to reinforce its position as a leading multi-business bank, the system renovation project will focus on digitalisation and client service innovation across all business lines.
The project, to be delivered progressively over the next few years, will result in most of the bank’s current legacy systems and platform components replaced with Temenos solutions, delivered as a combination of the Temenos Retail, Corporate Banking and Private Wealth Suites, containing the integrated channels, front, middle and core banking components for the markets in which BIL operates.
The new system’s architecture, based on agile methodology, will allow for a more timely and fully client-oriented approach.
BIL COO Yves Baguet said: "We have selected Temenos as our IT platform partner for the future on the basis of their corporate strength, the breadth and depth of their solutions, and their open, flexible and scalable architecture. And also for their delivery track record and their certified implementation partners network.
"Our IT transformation program, called Ignite, will be implemented to support our business strategy for the future and includes the simplification of our applications landscape and operational processes. The first phase will be about building a modern infrastructure for digitalized processes and client oriented business value based on their experience, as well as creating a solid foundation for the core banking transformation phase to follow."
Temenos CEO David Arnott said: "We are delighted that BIL has selected Temenos solutions to underpin its system transformation. By taking Temenos’ integrated, front-to-back solutions across its private, corporate and retail banking business, BIL puts itself in a position to differentiate its customer experience at the same time as driving efficiency and speed of delivery in the back office.
"As such, BIL will be able to sustainably differentiate its customer proposition in a highly competitive marketplace ensure the continued success of a great and longstanding institution."