Suriname-based Finabank has selected Temenos for a complete overhaul of its banking technology, from the core through to channels, business intelligence and financial crime prevention.

The bank, which has tripled its assets in three years, will be deploying Temenos’ flagship T24 core banking system, as well as a suite of extra modules. According to Eblein Frangie, CEO of Finabank, the vendor displayed “a clear understanding of our business objectives, and how to achieve these with its proven technology.”

Related: EFG International completes BSI migration to Temenos core systems

Temenos will provide the bank with multi-lingual capabilities for its Dutch and English-speaking users, insight into customer data a “flexible architecture” which will allow customisation and integration with third-party applications.

He added that Finabank customers can expect to “gain a modern front-end experience, with greater accessibility across channels, while receiving the value that comes from a secure, streamlined technology foundation on the back-end.”

Temenos expects the implementation to be completed with the next 18-24 months. Jean-Michel Hilsenkopf, chief revenue officer at Temenos, said of the deal: “Our extensive experience in the Latin America region, combined with the strength of our innovative and upgradeable packaged software, will help the bank execute its growth plans and deliver on its digital strategy.”

FinaBank, founded in 1991, operates three branches and seven ATMs in Suriname. The bank is one of the four largest banks in the country. It offers accounts for retail customers, alongside online and mobile banking.

See more: Temenos wins Tier 1 deal in the US

One of Temenos’ largest-ever deals, with Scandinavian giant Nordea, is still going strong, despite the bank posting a 43% drop in profits.

Nordea is looking to automate its largely manual processing protocols (which at the time of the deal required input from 5,000 staff) and replace ageing systems such as Misys (now Finastra)’s Midas and Tieto’s Core Banking Suite.

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by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: alexanderh@ibsintelligence.com
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