Spain’s fourth largest banking group, Banco Sabadell, has begun using TEMENOS’ core banking system in its Miami branch.
The bank is using TEMENOS T24 to support its private banking operations in the US servicing 4,500 customers, over 7,000 accounts and 1,000 portfolios.
“We needed a banking system that would enable us to control the distribution and flow of data within our bank,” said Tomas Arrieta Alberdi, foreign branches area manager, Banco Sabadell. “With TEMENOS T24 we have all our data centralized in one single application, which eliminates manual intervention and actively assists compliance. This means a decrease in operational costs and an increase in efficiency.”
The TEMENOS T24 functionality includes treasury, securities, trade finance, loans and deposits, mortgages, teller, MIS, asset management and payments modules.