Temenos, the Swiss-listed developer of banking solutions 15% owned by JSE Securities Exchange-listed Global Technology, has secured the largest deal in its history for the Globus application at ING Bank for an unspecified value.
Temenos will implement Globus at all of ING Bank`s operations in 35 countries, across Europe, Asia and the US, from one 24x7 service centre. The implementation is expected to take three years.
"As would be expected, given the scale of the contract, this was one of the most hotly contested deals in the banking world," says Ray Leonard, chairman of Global Technology. "Temenos won the contract after an extensive evaluation process against major industry competitors based on product functionality, technological superiority and global footprint of support."
In addition, Globus`s Corebanking has been chosen by a large Asian financial institution for its domestic retail operations. This is the first signing of the Corebanking division, which was acquired in October 2001 to enhance Temenos`s retail banking capabilities. IBM will be responsible for providing implementation services and infrastructure to the bank.
"Temenos`s pipeline of opportunities globally remains very strong," adds Leonard, "confirming that it has become the absolute world leader in integrated banking systems."
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