China Merchants Bank Selects Temenos Solution to Support New York Operations
China Merchants Bank (CMB) New York has selected Temenos T24 Model Bank US Platform. The system will support the bank’s newly established corporate banking business. Temenos says that CMB will benefit from a rapid, low risk implementation and also a bilingual support team with consultants based in both the US and China. This global approach was important for the bank, which obviously needs to be able to communicate effectively across both sides of its business. The bank also required a system that could process transactions, manage customers and support the bank’s business across multiple countries, currencies and languages. The system will be implemented on IBM hardware at the bank’s New York office to support its high-speed, high-volume transaction processing and planned business growth. The New York branch will facilitate trade and other business activities between the US and China by providing trade service, trade finance, dollar clearing and other services to businesses from both countries. It is a part of CMB’s overseas expansion strategy.