Temenos Expands Footprint In Latin America

Banco Ficohsa, a bank in Honduras, has selected TEMENOS T24 (T24) to support its retail and corporate banking operations, servicing 650,000 accounts across 88 branches in Honduras and the United States. Banco Ficohsa signed the deal in December 2008, making

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Banco Ficohsa, a bank in Honduras, has selected TEMENOS T24 (T24) to support its retail and corporate banking operations, servicing 650,000 accounts across 88 branches in Honduras and the United States. Banco Ficohsa signed the deal in December 2008, making it the first privately owned commercial bank in Central America to implement T24.

Banco Ficohsa selected T24 Model Bank for Universal Banking based on its ability to fully support the bank’s strategy to improve its customers’ experience through the introduction of new products and a wider range of user friendly service channels.

The bank also selected TEMENOS ARC (ARC) Internet Banking and Mobile modules from Temenos’ package of front office applications. These will be implemented alongside T24 to extend the single customer view across the front and back office, enabling Banco Ficohsa to tailor and improve internet and mobile channels for a more personalised and positive service. This will include new mobile banking transfer options and a selection of online deposit, savings and loan services.

The bank will employ the Temenos Implementation Methodology (TIM) to deploy T24, including retail, corporate, financial reporting and internet banking functionality on IBM servers and an Oracle database. The system is expected to go live in Q1 2010.

“Our customers expect convenient, agile services and a comprehensive set of products that can satisfy all their individual financial needs,” says Camilo Atala, CEO, Banco Ficohsa. “T24 will enable us to offer improved services through an increased number of channels, including reducing loan disbursement from days to hours and direct debit options to make regular activities such as bill paying easier.”

“Corporate customers will benefit from convenient cash management services so money can be invested overnight and liquidity can be handled more efficiently”.

“This win not only demonstrates our growing footprint in Latin America and competitive position in the current financial climate, but shows that banks are continuing to invest in core banking technology to drive growth and deliver excellent customer service at a time when it is most needed,” says Andreas Andreades, CEO, Temenos. “As our first client in Honduras, we are delighted to be working with Banco Ficohsa to strengthen their product and service capability.”

L.D.

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