Investment bank Dresdner Kleinwort has selected Temenos' T24 banking system to support 16 subsidiaries and branches across Europe, Asia Pacific and the US.
The bank, which is headquartered in London and Frankfurt, said its decision was driven in part by its need for a scaleable banking system that could help it to meet the requirements of the Single Euro Payments Area , while will harmonise payments throughout Europe from next year.
Pascal Emile, Dresdner Kleinwort's global CIO, said: “In addition to changes in customer requirements, we expect to see a significantly increased business volume in corporate cash products as a result of SEPA. We needed a platform that could help us to meet these challenges while providing a single centralised system across our branch network. T24 will ensure that Dresdner Kleinwort is ready for SEPA ahead of the market and can improve its service offering to corporate customers.”
Dresdner Kleinwort has selected T24 Model Bank, which includes pre-configured products and processes for banking best practice in order to reduce the implementation time, increase ROI, minimise customisation and lower the project risk.
Temenos will lead the implementation, which is expected to initially go live in the second half of next year in Austria. This launch will be followed by a phased approach across its remaining network of 16 international branches.