Baltic International Bank (BIB) has gone live on core banking software TEMENOS T24 as part of a development strategy to deploy a fully integrated systems infrastructure and maintain and enhance its functionality and improve the overall quality of transaction processing.
Now, banking transactions are routed through the new system. Т24 offers multiple advantages for the banks business. It enables the bank to provide higher quality service (since it decreases the time required for transaction processing) and update information shown on customer account statements much more rapidly.
The deployment of the new banking system now provides support for the following business units: those dealing with accounts and payments, cash operations, loan and deposit operations, trade finance, and securities-based operations.
The implementation of a huge investment project is a confirmation of the Banks development strategy, says Ilona Gulchak, chairperson of the Board. The following comments are from
With Т24, the bank now has the technical foundation required to raise the quality of its operational infrastructure, ensure fast and efficient transaction processing, reduce operational risks and optimise expenses associated with the support for and development of information technologies used by the bank, says Albert Reznik, director of Information Technology and Business Maintenance.
We are delighted to be supporting Baltic International Bank, says Keith Stonell, regional director, Temenos. The private banking market is evolving massively, with both retail and private banks putting increased focus on the mass affluent market. In addition, high net worth clients want more control over their investments, with increased demands for immediate access to information via dynamic portfolio analysis and the ability to compare investment strategies.
T24 now provides BIB with the integrated operational infrastructure needed to address these market changes both now and in the future at a significantly lower cost of ownership.
L.D.