Case Studies: Successful Implementations of Temenos T24 in Global Banks 

Temenos T24 is one of the leading banking software solutions. It has transformed the banking world by providing excellent scalability, flexibility, and efficiency. Many worldwide banks have employed Temenos T24 to enhance their operation, customer experience, and adaptability to the changing requirements of the market. This blog explores case studies of successful implementations of Temenos T24 by global banks, covering the challenges they faced, the strategies they used, and the results they obtained.

Standard Chartered Bank: Developing Global Main Banking Systems

Background
Standard Chartered Bank is an international banking and financial services leader operating in more than 70 countries. Managing operations across such diverse markets was a huge challenge especially when legacy systems were outdated and lacked integration and scalability.

Problems

Different regions have fractured core banking systems.
Lack of real-time data synchronization.
It cannot meet fast-changing needs of digital banking.

Implementation
The bank selected Temenos T24 to consolidate its core banking operations across various regions.

Implementation includes:

• Transfer data from old systems to the newly integrated T24 platform.
• Change the system to follow local rules and regulations.
• Training workers on new workflows made easier by T24.

Results:

It achieved smooth transcontinental connection supporting real-time transactions.
It results in better customer experience with quicker services and improved products.
Reduced costs by eliminating redundant processes.

Commerce Bank: Revolutionizing Retail Banking Operations

Background
Commerce Bank may be able to expand its retail banking services and solve problems in how it worked. Old systems slowed the bank, challenging its expansion into a competitive market.

Problems

• Manual work produces mistakes and defects.
• Retail customers have few choices for modifying products.
• It cannot easily introduce new regulations.

Implementation
Temenos T24 was chosen because of its great features for retail banking.

Important steps include:

• Automate account opening, loan processing, and customer management processes.
• Utilizing the modular structure of T24 in launching new products quickly.
• Ensuring compliance with regulatory standards through built-in features.

Results

• Improved work efficiency through automation of 80% of manual tasks.
• Introduced personalized retail products, increasing customer acquisition by 25%.
• Better compliance and reporting abilities, which lower regulatory fines.

Bank of Shanghai: Developing Digital Shifts

Introduction
Bank of Shanghai wanted to improve online banking and serve its customers who rely on technology. The bank could not extend the digital solutions on a successful basis due to older systems.

Issues

• There is fewer facilitation support towards mobile and internet banking platforms.
• Back-end systems are not efficient and cannot handle more transactions.
• Launches delayed new digital services.

Implementation
It is using Temenos T24 for assistance on changing over to its plans of digital services. Implementation of

Key Points:

• Connecting T24 with mobile banking platforms to enable effortless user experiences.
• Move the back-end processes to a cloud version of T24 for improved growth.
• Using the tools available in T24 to learn how customers behave.

Results

• Introduce a new mobile banking application after six months and achieve 1 million subscribers in the first year.
• Made transaction processing 40% faster, allowing for more transactions during busy times.
• Better retention of customers by using information and special offers.

ABN AMRO: Enhancing Corporate Banking Solutions

Background:
ABN AMRO is one of the largest banks in the Netherlands. They wanted to improve their corporate banking services because business customers needed sophisticated service capabilities. The current systems could not cope with complex transactions and operations involving multiple currencies.

Problems

• Inefficiencies in multi-currency transaction processing.
• No integrated solutions for controlling corporate treasury.
• Waiting for loan approvals and payments.

Implementation
ABN AMRO used Temenos T24 to solve these problems.

The emphasis was on:

• Customizing T24 to support multi-currency and cross-border transactions.
• Integration of corporate treasury solutions into the main banking system.
• T24 is replete with advanced-capabilities further simplifying loan-approval workflows.

Results:

• Bring it all down from weeks to days for happier clients.
• Handled multi-currency transactions 50% quicker, improving efficiency.
• Strengthened relationships with corporate clients through customer-relationship services.

Equity Bank: Helping People in Africa Access Banking

Background:
Equity Bank, a top bank in East Africa, wanted to help more people use banking services, especially those who do not have access. Old systems were not good enough for this job because they could not reach many people or grow easily.

Problems

• The opening of branches is quite expensive.
• Limited mobile banking service portfolio for remote areas.
• Inefficiencies in microfinance operations.

Execution
Temenos T24 was implemented to transform the operations of Equity Bank. Key actions include:

• Use of a cloud platform for T24: Reduces infrastructure costs:.
• Launched a mobile banking application with T24 for the rural population.
• Using T24’s microfinance features to ease loan payments.

Results

• It grew its customer base by 40%, mostly from countryside areas.
• Reduce branch operating costs by 30% through digital-first strategies.
• Disbursed 500,000 micro-loans efficiently, boosting financial inclusion.

DBS Bank: Modernising the Wealth Management Company

Background:
DBS Bank, a leading bank in Asia, wanted to redesign its wealth management offerings. The solutions currently in use failed to deliver personal advice, nor could they integrate with digital channels.

Problems

• Not enough data to give it personal wealth management.
• Cannot provide smooth interactions across both digital and physical channels.
• Problems arising from evolving rules and regulations.

Implementation

DBS Bank initiated the deployment of Temenos T24 to improve wealth management. Major initiatives included:

• Utilize T24’s analytics and AI features to give personalized investment advice.
• Integrated system with mobile and web platform for omnichannel experiences.
• Its compliance tools ensure strict regulatory standards are met through T24.

Results:

It grew total assets under management by 20% within one year.

Pros: Better customer satisfaction with customised wealth management services. More compliance with automated reports of regulation.

Main points from the case studies

Changing and Developing Temenos’s T24 provides banks with modular and flexible options through which they can tailor the platform according to their needs. Digital Transformation Banks using T24 have successfully adopted digital-first strategies, improving customer engagement and making operations more efficient. Better Compliance T24’s added compliance tools simplify the maintenance of regulatory standards across regions. Improved customer experiences T24 enables the banks to avail personalized, hassle-free services from retail banking to wealth management and beyond.

Cost Effectiveness

Moving to cloud-based systems has greatly reduced the infrastructure cost of banks. Conclusion Tempos T24 has been proven to be very effective for banks around the world that want to transform their operations, customer experience, and competitiveness. The above case studies show how agile and efficient T24 is in addressing different challenges such as financial inclusion in Africa and wealth management in Asia. The banking industry constantly changes, and Temenos T24 is a powerful solution that enables banks to meet future needs with confidence and speed.