Swedbank Buys Temenos Technology To Support Their Shanghai Office

TEMENOS Group says that Swedbank, has selected its TEMENOS T24 technology to support the launch of its Shanghai branch. TEMENOS claims the system will enable the bank to introduce new products quickly, and meet local Chinese reporting requirements more easily.

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TEMENOS Group says that Swedbank, has selected its TEMENOS T24 technology to support the launch of its Shanghai branch.

TEMENOS claims the system will enable the bank to introduce new products quickly, and meet local Chinese reporting requirements more easily. Swedbank will implement TEMENOS T24 initially to support foreign currency corporate banking services.

“We are now in the process of upgrading our local representative office in Shanghai to provide full corporate banking services in China,” says Christer Cragnell, the CIO of Swedbank. “We chose TEMENOS because its system will help us provide market-leading services to customers, while ensuring low total cost of ownership.”

Andreas Andreades, the CEO of TEMENOS, says the company has already installed the Chinese product at the Bank of Shanghai. “By adopting TEMENOS T24, Swedbank will be in an exceptional position to capitalise on the increasing opportunities in the region,” he says.

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