Temenos, the provider of integrated core banking systems, signs a strategic licence partnership agreement with Rubik Financial Ltd, the provider of integrated retail banking systems, to deliver an end-to-end retail banking soluapplication to financial institutions in the Australian and New Zealand markets.
This partnership combines TEMENOS T24 (T24) Model Bank with Rubik Financial’s regional industry experience in deploying a suite of hosted retail banking solutions for the Australian and New Zealand financial services markets. Through recent acquisitions, Rubik Financial already provides channel and payments solutions and services to over 190 financial institutions and will now be the first T24 hosted provider to these regions.
Rubik Financial will offer T24 Model Bank on Microsoft Windows and SQL Servers. T24 Model Bank will be available for deployment from 2009 allowing banks to use these services with an implementation effort of as little as three months. The full range of retail core banking services to be offered will include phone and internet banking, touch screen kiosks, payments and credit cards.
“In Temenos, we found a partner that shares our commitment to deliver best of breed technology through low risk implementations in record timeframes,” says Brent Jackson, CEO, Rubik Financial Ltd. “With this partnership we will provide tier two and tier three financial institutions based in Australia and New Zealand with modern front-to-back capabilities enabling them to deliver the complete range of sophisticated retail banking operations.”
Rubik Financial evaluated 33 core system vendors over a period of several months. T24 was selected as it is a global banking system with a modern architecture which uses established standards, such as SOA and XML, and runs on a Microsoft platform. Rubik also opted for T24 based on its proven track record in Australia and New Zealand as well as its multi-brand and hosting capabilities.
“We are delighted to enter into this agreement with Rubik Financial as it extends our market reach beyond the traditional direct model in Australia and New Zealand,” says Andreas Andreades, CEO, Temenos. “We expect that with this partnership T24 will become the leading core banking application in Australia over the next five years and will allow us to extend our services to more than 200 financial institutions in these regions.”
D.C.