Financial News

KBC partners with Temenos

By Business & Finance
10 January 2014

KBC Bank today signed a deal with Temenos to deliver its core banking system.

Temenos, provider of mission-critical solutions to the financial services industry, today announced it will be providing KBC Bank Ireland with T24 core banking system, as well as its Insight Business Intelligence suite, as the bank continues  to transform itself into a full retail bank.

KBC Bank Ireland has been operating in Ireland for 40 years, and its parent KBC Bank NV is one of Europe’s largest banks. KBC provides business and personal banking services to customers throughout Ireland, with approximately 800 employees. Last year it launched a new current account proposition to retail consumers and opened retail hubs in Limerick and Galway in addition to the existing centres in Dublin and Cork.

“We are delighted that KBC Bank Ireland has chosen Temenos as its core banking system provider,” Jean-Michel Hilsenkopf, Temenos regional director for Europe said. Our platform will enable it to upgrade its systems in order to offer superior service to the Irish market. A key consideration for the bank was T24’s product-building capability that will allow it to offer flexible and innovative products that can be brought to market quickly without the need to write bespoke code.”

Rudi Peeters, KBC Group chief information officer, said: “Our purchase of Temenos’ products  highlights our commitment to the Irish market. We want to offer a complete range of modern financial services, underpinned by a distinctive customer experience, and working with Temenos provides us with the opportunity to do that.”

Commenting on today’s announcement Wim Verbraeken, chief executive of KBC Bank Ireland, said: “We are seeking to harness the opportunities that now exist within the Irish market as the banking landscape changes.”