TEMENOS Group, the provider of integrated core banking systems, says that the Jih Sun retail bank in Taiwan, has gone live with TEMENOS T24 on Microsoft Windows Server 2003. TEMENOS T24, the company’s modular core banking system, now supports some 2.4 million accounts and 1.4 million customers across 49 branches. The system enables the bank to reduce the time to market for new products and manage its user accounts through a consolidated customer view.
Previously, Jih Sun was operating on a locally developed mainframe system, which required continued and costly customisation to suit its needs. During the implementation of TEMENOS T24, TEMENOS carried out significant development work to ensure the system met the bank’s requirements, including local needs such as typhoon day processing capabilities. Thanks to the layered architecture of the system, TEMENOS was also able to provide user interfaces in the local traditional Chinese language, Mandarin. TEMENOS provided core functionality, including daily accruals, collateral management and multi-book components. The bank went live with the system in October 2006.
Jih Sun installed TEMENOS T24 on Microsoft Windows Server 2003 with Unisys hardware. By running TEMENOS T24 on the Microsoft platform, Jih Sun’s IT staff have a familiar interface on which to operate the new system. Using Microsoft Windows Server 2003 is enabling Jih Sun to achieve cost savings and increased productivity from its TEMENOS T24 implementation as bank employees can focus attention on activities that provide a greater return to the business. By using hardware supplied by Unisys, Jih Sun can also take advantage of a higher availability of resources to maintain their chosen platform.
“This implementation is a great example of how our partnership with TEMENOS is helping banks get the most from their core banking systems,” says David Vander, the worldwide managing director of banking at Microsoft. “In particular, the technology is proven to be completely scalable to service high volume activity. Jih Sun joins a growing list of banks that now benefit from the flexibility and advanced functionality offered by TEMENOS T24 along with the cost and performance benefits offered by the Microsoft platform.”
“This is a milestone deal for us in that it is our first client to go live in Taiwan, a significant area of growth,” adds Andreas Andreades, the CEO at TEMENOS. “It is also further evidence of the advantages offered by an open platform system. TEMENOS T24 operates on multiple platforms and we have supported clients running on Microsoft Windows Server since 1997. As such, firms like Jih Sun can adopt modern core banking technology without compromising on other technological choices.”