Texnikabank Selects Temenos T24 Model Bank to Replace its Core Systems
Texnikabank, a universal banks in Azerbaijan, has selected Temenos T24 to replace a number of its core banking systems to support the bank’s retail and corporate operations. Using T24, the bank will consolidate all of its disparate systems into one centralised infrastructure to fully automate all business processes across these operations. T24 will be rolled out across the bank’s 35 branches.
The bank required a modern, functionally rich, international core banking system to replace its existing, locally developed and in-house legacy systems, which can no longer support the expanding operational and product requirements of the bank. Texnikabank opted for T24 model bank for universal banking, which includes pre-configured products and processes based on banking best practice to reduce implementation time and costs, minimise customisation and lower the project risk. T24 will enable the bank to quickly and efficiently develop and deliver modern, innovative products and superior service to its customer base, thereby improving the customer experience, retention and growth.
Khaqani Guluzade, first deputy chairman of the executive board, Texnikabank, said: “Advanced core banking technology is vital to achieve business growth and improve customer service. We recognised the need to implement an international business banking system that would enable us to compete more effectively in today’s market; we selected Temenos based on its core banking expertise and leading reputation in Azerbaijan. With T24 we will consolidate the disparate systems within the bank, obtain more control over business processes and significantly improve operational efficiency. T24 will also enable us to create and launch innovative products quickly, which is key for our customer satisfaction and growth.”
Texnikabank also selected Temenos ARC, to enable the bank to offer tailored services and products to its customers across multiple channels, eliminating complex and expensive integration efforts of multiple systems and ensuring a truly customer centric solution is in place. In addition, the bank chose Temenos T-Risk, also fully integrated with T24, which will provide Texnikabank with improved enterprise risk management and regulatory reporting capabilities including Basel II reporting.