Temenos Group, a Switzerland-based provider of banking software systems, has released the new version of its core banking software, T24 R10.

According to Temenos, T24 R10 features over 70 individual enhancements, including extended support for IFRS (International Financial Reporting Standards), event driven customer communications, enhanced corporate internet banking, new client reporting for private banking and greatly enhanced branch automation and retail product simulations.

Temenos has also launched a new suite of anti money laundering products, following the integration of solutions from Viveo Group, which it acquired in December 2009.

Andre Loustau, chief technology officer at Temenos, said: ‘‘Our industry leading levels of R&D investment, consistently around 20% of revenue year on year, are a key differentiator for Temenos, giving us the ability to put greater emphasis on expanding the product in strategic directions. This has enabled us to extend and improve the entire end to end functionality and technology of T24 across all banking sectors.

“Our commitment to openness and platform independence gives our clients choice, enabling them to achieve the lowest total cost of ownership or to leverage existing skills, investments or vendor relationships in order to achieve the highest possible return on investment.”