Japan-based Sumitomo Mitsui Banking Corp (SMBC) has implemented Temenos T24 Model Bank platform in Singapore, Malaysia, Vietnam and Australia, as part of a project to integrate multiple IT systems onto a single platform.
Prior to implementing Temenos platform, SMBC ran its operations on distributed in-house systems and used a small number of third party products.
According to Temenos, by integrating its operations on the Model Bank platform, SMBC is able to deliver standardized, automated processes across the region as well as integrated customer and risk information.
Including trade finance, cash management, commercial lending, guarantees and fund transfer, T24 Model Bank was deployed on an open system including Unix servers and an Oracle database.
SMBC said that the single, pre-configured platform will enable rapid delivery of a consistent set of original products and services across the firm’s entire network, whilst flexibly accommodating country specific requirements to meet local needs.