DUBLIN, Ireland, May 13, 2024 (GLOBE NEWSWIRE) -- Temenos Community Forum -
Temenos (https://www.temenos.com/) (SIX: TEMN) today announced that Banque
Internationale (https://www.bil.com/)à Luxembourg (BIL), one of the largest
universal banks in Luxembourg, has gone live with Temenos core banking and
payments to increase agility and efficiency of its retail, corporate and private
banking operations.
The move gives BIL the latest banking capabilities from Temenos on a modern API-
driven platform. It will enable BIL to launch new products quickly and improve
the customer experience with personalization driven by data, while also saving
costs and driving up performance and productivity.
Founded in 1856, BIL is the oldest universal bank in Luxembourg, recognized as
systemically important by the European Central Bank. With EUR44.1 billion in
assets, BIL is a key player in retail, private, corporate and institutional
banking as well as treasury and financial market services.
Following a complex transformation project, replacing its 30-year-old legacy
core banking system, the switch-over to the new Temenos platform was
successfully completed in just one weekend. This was the result of close
cooperation between BIL, Temenos delivery partner LTIMindtree and a dedicated
multifunctional team from Temenos.
On the new Temenos Banking Platform, BIL can integrate and automate a wide range
of capabilities, including cash accounts, deposits, lending, securities and
treasury. The bank is also able to handle larger transaction volumes, deliver
faster and increase operational efficiency with digitalized processes that will
reduce costs and enhance customer experience.
BIL also acts as a payment hub for other financial institutions, processing up
to 200,000 complex and multi-currency payments every day. Using Temenos Payments
Hub, the bank has consolidated all payment rail processing onto a single
platform, including SEPA, Target2, and cross border, to simplify and standardize
its payments operations for all customers. Seamless integration with core
banking processes, running on the same strategic technology platform, enables
the environment to scale massively handling peak performance windows for all
payment types and schemes.
With Temenos' single code base across core banking and payments, BIL will
benefit from a higher, sustained level of investment in R&D. Furthermore, the
single Temenos platform allows for faster and lower cost updating and
maintenance, which means a lower total cost of ownership.
Jeffrey Dentzer, CEO, Banque Internationale à Luxembourg, commented: "We're
delighted to complete the migration to Temenos' modern, future-ready core
banking platform. This was a major transformation project culminating in big
bang go-live across all business lines. On the Temenos platform we deliver best-
in-class products and services for all customers and ensure sustainable growth
for many years to come."
William Moroney, President - International, Temenos, said: "I'd like to
congratulate the teams from Banque Internationale à Luxembourg, LTIMindtree and
Temenos on a successful implementation of this large, complex transformation.
Bringing together multiple business lines on Temenos' secure, scalable cloud-
native platform positions BIL strongly for future growth."
Temenos offers a single platform across all banking verticals and business
segments including payments and core banking and as a result its clients benefit
from a higher, sustained level of investment in R&D. It is the market leader in
banking software, ranked #1 in eight categories, including core banking and
payments, in the global IBS Sales League Table 2023
(https://www.temenos.com/news/2023/07/12/ibs-intelligence-recognizes-temenos-as-
the-1-best-selling-banking-software-across-eight-categories-the-highest-awarded-
to-any-technology-provider/).
About Temenos
Temenos (SIX: TEMN) is the world's leading platform for composable banking,
serving clients in 150 countries by helping them build new banking services and
state-of-the-art customer experiences. Top performing banks using Temenos
software achieve cost-income ratios almost half the industry average and returns
on equity 2X the industry average. Their IT spend on growth and innovation is
also 2X the industry average.
For more information, please visit www.temenos.com (http://www.temenos.com).
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