Temenos, Thakral One bring banking solutions to Phl

MANILA, Philippines - Temenos, a leading international provider of banking software systems, has entered the Philippines to offer leading core banking software and services to the financial sector.

In partnership with Thakral One, which offers best-in-class IT solutions to enterprises across Asia, Temenos was formally launched in the symposium “Looking Ahead: Challenges and Opportunities in Philippine Banking” at the Makati Shangri-La Hotel recently.

Temenos makes a timely entrance to the Philippine market. “We see the Philippines as a market that’s changing in regulatory requirements yet gaining pace with innovation and evolving customer expectations. Temenos can bring deep industry knowledge and market leading products to the Philippine market,” said Temenos director for Asia Raju Daryani.

Temenos provides products and solutions to over 1,000 clients in 125 countries — including Metro Bank UK, Deutsche Bank, Credit Suisse, Bank of Shanghai, Techcom Bank in Vietnam, and Bank Mandiri in Indonesia.

Discussing Thakral One’s commitment to its clients and its partnership with Temenos, Teddy Sumulong, country general manager in the Philippines, said, “We are delighted to work with Temenos for extending end-to-end banking solutions to our client. Traditional ‘surround’ strategies — like investing in distribution channels to mitigate risks of legacy systems — will no longer deliver improved agility, cost savings and decision making. The proven methodologies that this partnership brings to the table will enable our customers to innovate and adapt to dynamic market conditions.”

The event, attended by senior executives from over 15 financial institutions, started off with a brief background on Temenos and its understanding of the banking and financial industry across the globe.

Studies showed that Temenos’ customers are more profitable than their peers and enjoy 62 percent higher return on capital.

Likewise, IBS Publishing, an independent source of research and analysis of the financial technology market, lists Temenos T24 as the top product in the 2011 IBS Sales League Table.

The conference also delved on topics such as updating technology infrastructure so that it will support future expansion, keeping pace with innovations and evolving customer expectations, as well as the importance of IT spending for higher bank profitability.

IBM’s Dan Hartman discussed how financial institutions must aggressively position themselves for growth and maximize return of investments through banking modernization projects.

The event gathered renowned companies and IT executives from the Asia-Pacific region such as Celent senior vice president for Asia Neil Katkov, IBM Global Core Banking Framework executive Dan Hartman, Thakral One VP and regional head for banking and financial services Santie Heydenrych, and Temenos director for strategic planning Chris McGinnis, as well as senior executives from leading Philippine banks.