TEMENOS T24 Product Overview - e InCube

1 TEMENOS T24 Product Overview Meeting the challenges of today andthe opportunities of new age for banking is relatively easy to choose a system thatwill meet today s requirements. What ismore difficult is choosing a system thathas the flexibility and support to meetone s demands far into the a core system is an expensiveand time-consuming project and theefficient organisation will do this asinfrequently as our history, TEMENOS hasreplaced a significant number of legacysystems. In almost all of these cases thiswas due to two main reasons. Firstly, thefuntionality in the redundant system wasinflexible and limited. Secondly, ourclients were forced to replace their oldsystem due to technical , these technical restrictionswere caused by a proprietary environment(hardware,database, etc.) that had , the old system was simplyunable to cope with increasing replacement projects have broughtmany business benefits such as increasedefficiency and new products, but the factremains that these organisations wouldnot have chosen to replace the system forthese reasons were forced into a complex andexpensive project.

2 We do not want ourclients to experience this ever order to protect them, we have createdTEMENOS StandardsWhat do we mean by open standards? TEMENOS T24 runs on:3 Open hardware3 Open database3 Open J2EE application server3 Open user interface through browser,HTML and XSLT3 Open connectivity through XML andWe b S ervices3 Open C language code3 Open Java development environmentOur system is based on establishedindustry standards as promoted byindependent bodies and not on theparticular interpretation of thesestandards by other does this mean for our clients? Our clients can select the best vendor orenvironment to suit their own needswhether this is low cost, high performance,local support or any other factor. If thischanges in the future, they can switchvendor without altering their investmentin TEMENOS T24.

3 This will provide truelongevity in their chosen T24 TEMENOS T24 is the most technically advanced banking systemavailable today. It combines the most comprehensive and flexiblebusiness functionality with the most advanced and scalablearchitecture. This gives it unprecedented power to meet the challengesof today and the opportunities of ACHIEVE THESE HIGH VOLUMES THROUGH AN EFFICIENTAND SCALABLE ARCHITECTURE THAT PERMITS OUR CLIENTSTO ADD FURTHER LOW COST SERVERS AS VOLUMES EXPANDWhat do we mean by scalability? TEMENOS T24 can support: 1,000 transactions per second 10,000 signed-on users 100,000 signed-on Internet users 50,000,000 accountsWe achieve these high volumes throughan efficient and scalable architecture thatpermits our clients to add further low costservers as volumes expand. They do notneed to be constantly pushing theboundaries of their hardware with all therisk and expense that this TEMENOS T24 allows you to improve applicationperformance in a linear fashion by adding additionalcapacity to an existing The power to handleever y TEMENOS WE HAVE COMPLETELY ELIMINATED THE CLOSED BATCH RUN THATHAS CAUSED PROBLEMS FOR FINANCIAL INSTITUTIONS AND ORGANISATIONS ASTHEY HAVE ENTERED THE WORLD OF 24-HOUR SERVICEAll finance and banking systems availabletoday have a traditional approach to theirclient s daily close of business.

4 This entailshaving an end of day batch run. Allsystems except TEMENOS T24, that TEMENOS we have completelyeliminated the closed batch run that hascaused problems for financial institutionsand organisations as they have entered theworld of 24-hour service. Theorganisation and its clients can continueto process business seamlessly as the datechange occurs. This also significantlyincreases the scalability of the systembecause legacy systems have usually beenconstrained by the length of their batchrun. TEMENOS T24 has no batch runand therefore there are no Development All solutions offer some degree ofindependence from their supplier. Forexample, the client will use parameters todefine their charge tariffs and interestrates without needing support from thepackage supplier when these simpleproduct conditions change.

5 However, asyour demands become more complex,simpler packages will not offer theflexibility necessary to support all thechanging requirements. You will be forcedto turn to the package supplier forsupport, introducing delay and cost to thechange so wish, TEMENOS T24 offers theunique possibility of extendedindependence from TEMENOS . Thisextended independence is called selectiveautonomy . Selective, because you chooseyour level of independence depending onyour requirements and also on yourwillingness to invest in learning the toolsand facilities that TEMENOS T24 tools encompass powerfulfunctions such as input and enquirydesigners and database extensiondesigners to develop your own Javaclasses. TEMENOS T24 itself may alsoform part of a wider and standard systemsenvironment because its full range offunctionality and data are exposedthrough standard industry ProcessingTEMENOS T24 has no batch run and therefore thereare no Non stop processing ina non stop institutions know better thananyone the opportunities and the risksthey face in a constantly changing andcompetitive does not claim to have all theanswers.

6 However, we believe that ourCompany, Products and Services providethe platform, functionality andarchitecture to meet the immediate needsand more importantly the future needs ofthe financial industry. With over 300financial institutions using our software,we have gained a broad and uniqueinsight into these difficulties and issues:3 As advisors, financial institutions mustoffer the latest information and servicesthrough an increasingly complex set ofproducts. They must have immediateaccess to this information and be able toadapt their systems to manage the rapidlychanging market opportunities and As service providers, financialinstitutions must be able to launchincreasingly complex products within a short time to market . This can only beachieved with an open, adjustable, robust,and functional platform.

7 Deliverychannels must handle the expandingtypes of services provided by the financialinstitutions to their As lenders now face deregulation, thechallenges include a growing number ofspecialised lending companies andproducts. With globalisation the small tomedium financial institutions faceincreasing competition from As risk managers, financial institutionsare challenged by market volatility,corporate irregularities and troubledcapital markets which have shaken thebanking industry and highlighted thedangers of poor risk risk systems can t capture theinter-relationships between various risktypes across geographies, departmentsand lines of business. In addition, thenew Basel Capital Accord is drivingfinancial institutions to adopt morecomprehensive risk management systemsin order to survive and financial institutions weretraditionally grouped into one of severalbusiness areas such as Wholesale, PrivateBanking or Retail Banking, we believe thetrend today is very much focused on.

8 3 International financial institutionswhere the challenge includes multi-siterollout and global guarantee their market share and toprovide control they look to technologyand a partnership with their supplier tosupport these constant innovations - thisincludes business line organisation,banking services outsourcing, StraightThrough Processing (STP) capability, andintegration after mergers and Smaller specialised financial institutionsthat rely upon efficient, cost effective andsophisticated business solutions. Typicallythese financial institutions demand a highlevel of professional service and supportfrom their Financial Industry TodayWe believe that our Company, Products and Services provide theplatform, functionality and architecture to meet the immediate needsand more importantly the future needs of the financial Specific business areas within anyfinancial institution (Departmentalsolutions) requiring sophisticated softwarefunctionality, with full real-timeintegration and interoperability with otherinformation systems and databases.

9 TheInformation Technology group within afinancial institution expects best of breedapplication software allied with industrystandards to ensure robust and Medium to large retail outlets face everincreasing competition with the openingof global markets, and recent regulatorychanges. They look to counter thischallenge with modern, cost effectivesystems. These systems need to provide aninnovative and reliable platform on whichto offer competitive products. One of themost important factors for these financialinstitutions is to change their focus froma Product -centric approach to acustomer-centric model with customisedservices in order to increase revenuesfrom existing Virtual financial institutions that basetheir growth on aggressive marketing andthe latest technology, providing hugereductions in overheads.

10 This is a growingtrend and these financial institutions lookto vendors who share their vision to bothestablish and support this dynamicbanking the complex array of businessobjectives these institutions have relied onone of two approaches towards solvingtheir system automation in-house solution hasevolved over many years and now providesinstitutions with a customised but costlysolution, which is difficult to maintainand software packages of a general andunsophisticated solution lefta gulf between the requirements and thefunctionality offered with little, if anyflexibility. Financial institutions were notthen able to control, enhance or indeedunderstand the internal processing andmechanics of the learnt the problem of in-housesystems and the generic software package,financial institutions have two optionswith today s suppliers:3 A best of breed approach with stand-alone, bespoke software interfaced to thecore banking application usingmiddleware/data warehouse or point-to-point specific An integrated package with theflexibility to be customised and enhancedwithout relying upon the software of the above provide an opensystems approach supportingsophisticated and reliable systemsintegration.