Temenos (SIX: TEMN), the banking software company, today announced the winners of this year’s customer awards. The awards recognize Temenos clients for best practice, achievements and a demonstration of excellence, innovation and a vision for the future of banking.
Jean-Michel Hilsenkopf, Chief Operating Officer, Temenos, said: “There is a once in a generation shift happening in the industry, as banks look to change and innovate in order to compete with challenger banks, fintechs and big techs. Now, more than ever, banks need to break down the barriers of legacy technology and legacy thinking, and to position themselves for success in this competitive digital world. This year’s awards recognize clients who aren’t just reacting to the change, but are leading the way and building a future for themselves and their customers. It gives me great pleasure to congratulate this year’s winners.”
Chairman’s Award – ABN Amro
ABN Amro has been a pioneer in digital banking and a longstanding Temenos client for over a decade. Temenos and ABN Amro have often co-innovated and in many instances the bank was first to adopt new products that Temenos rolled-out. ABN Amro implemented the Temenos T24 core banking platform – the forerunner to Temenos T24 Transact – to transform its corporate banking activities in 2009, Temenos Payments Hub in 2012 and Temenos WealthSuite for its international private banking business in 2015. Most recently, ABN Amro selected the Temenos Continuous Deployment product to speed up its software delivery and rapidly launch new innovations. The bank continuously drives Temenos to innovate and provide the best banking software to generate growth and cost efficiencies, which is why it has been selected for the Chairman’s Award.
Visionary Leadership Award – Bank of Singapore
Eddy Tai, Global Head of Operations and Technology, Bank of Singapore has been awarded the Visionary Leadership Award for his contribution to the banking industry and support of the Temenos Community. Eddy has been the driving force behind one of Bank of Singapore’s most important technology projects with the implementation of Temenos WealthSuite. Using innovative technology, Bank of Singapore has become one of the top 10 largest private banks in Asia.
Best Digital Front Office Award – HSBC Bank USA
This award recognizes HSBC for demonstrating a strong focus on customer experience in 2018. When HSBC decided to reintroduce credit cards to the US market, the team was keen to develop a digital onboarding solution that had a rich customer experience, performed straight through processing, and reduced the need for manual intervention. After going through a build vs. buy analysis, the team moved forward with Temenos Infinity in order to reduce development effort and accelerate time to market. Four months after selecting Temenos Infinity, HSBC went live with digital onboarding for two new credit card products. Within six months of launch, HSBC had achieved 5 times the credit card acquisition volume compared to the same period in the prior year. Following its initial success, the bank launched additional customer onboarding solutions for checking, savings and CD products, demonstrating its commitment to customer experience.
Best Core Banking Award – Commercial International Bank of Egypt (CIB)
This award recognizes CIB for its achievement in launching innovative products and bringing them to market quickly using Temenos T24 Transact. Back in 2007, CIB began using Temenos’ core banking product for corporate and retail banking. More recently, the bank expanded its use of Temenos T24 Transact to power its inclusive banking efforts, and also selected Temenos Infinity. Over the past 12 years, CIB has become the largest private bank in Egypt, and in 2018 won the Global Finance Magazine award for Best Bank in Egypt. In line with its continued commitment to technology, CIB has begun leveraging the power of analytics, allowing the bank to analyze the data in its core banking system and create predictive models, resulting in a dramatic improvement in cost-to-income ratio.
Best Payments Solution Award – KBC
This award recognizes KBC for centralizing its payments processing to increase cost efficiencies and improve risk management, as well as enhancing the customer experience. In parallel to its core transformation project with Temenos, KBC embarked on a standalone Temenos Payments Hub (TPH) implementation in Hungary, set to go live in June, to meet the new Domestic Instant Payments requirements. With Temenos Payments Hub, KBC will be able to go to market quickly with real-time payments and meet market needs.
Best Fund Administration Award – BNP Paribas Securities Services
This award recognizes BNP Paribas for transforming its fund administration. The bank has been a long-standing client for over 20 years, partnering with Temenos expand its footprint. Most recently, BNP Paribas and Temenos worked together to migrate 1,250 active fund accounts from an in-house system to the Temenos Multifonds Global Accounting product. With roughly 6,500 funds worldwide and €1.3 trillion in assets running on Temenos, BNP Paribas continuously seeks to improve its operational efficiencies and deliver outstanding services, and demonstrates a strong focus on operational excellence.
Best Wealth Solution Award – Standard Chartered Private Bank
Standard Chartered Private Bank won this award for the transformational impact that can be achieved through the implementation of a front-to-back integrated wealth and private banking solution. One of the top 40 banks in the world, Standard Chartered has been a Temenos client for over 10 years. The bank has embarked on a digital transformation project with Temenos Wealth Suite, which will be rolled out in multiple countries. The project will deliver significant productivity improvement, cost reductions and enhanced digital customer experience.
Best Cloud Innovation Award – Prestanómico
Prestanómico seeks to provide more affordable and accessible credit through technology, improving the quality of life for its customers in Mexico. As one of the first clients of Temenos Cloud in Mexico, Prestanómico is recognized for achieving rapid growth at reduced cost. Temenos Cloud has enabled Prestanómico to deliver products and services which bring more affordable and accessible credit to consumers so they can refinance debt, fulfill financial goals and improve their quality of life.
Best Inclusive Bank Award – ARB Apex Bank
This award recognizes ARB Apex Bank for delivering a truly customer-centric experience and for passing on its operating costs efficiencies to its end-customers in the spirit of financial inclusion. Ten years ago, ARB Apex Bank rolled out Temenos’ digital banking platform to launch a single, central technology platform. ARB Apex Bank connects 140+ rural and community banks in Ghana, totaling 700+ branches, and is Temenos’ largest Inclusive Banking installation. Through this cooperation, ARB Apex serves over six million customers with almost seven million accounts, processing an average of 220,000 daily transactions and empowering Ghanaians with modern day financial services.