BforBank, a fully-owned subsidiary of Credit Agricole Regional Banks and Credit Agricole, has deployed Temenos T24 solution, to empower its customers to become own private bankers. BforBank is a new online private bank offering savings, life insurance, mutual funds and e-brokerage to the French mass affluent market.
Temenos said that its back-office solution T24 offers 24×7 availability, flexibility and out-of-the box workflows and interfaces to support the bank’s mission.
Vincent Chatard, COO of BforBank, said: “We aim to meet the demands and expectations of an increasingly exacting, financially literate and technology savvy consumer population through a content rich, interactive user experience.
“T24 is a truly 24×7 system, which is absolutely essential because in internet banking, the bank never stops. Furthermore, its openness delivers ease of integration with other systems and offers us the flexibility to manage customer accounts efficiently – for example, having all the data held in T24 means there is no need to replicate data, so we can open accounts up very quickly for our customers. We have a strong engine with T24, with out-of-the-box interfaces that saves us time and money whilst reducing implementation risk.”
Andreas Andreades, CEO of Temenos, said: “We are privileged to have been selected by BforBank as the vendor of choice to take this business model forward ahead of local suppliers, which further reinforces the strong traction we are gaining in France following our acquisition of Viveo.”