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Temenos wins Tier 1 deal in the US

Temenos has revealed that a Tier 1 bank based in the US has selected the firm’s T24 core banking system as its global cash management platform.

T24 will be used by the bank for deposit transaction processing, internal account sweeping and interest compensation. The system, which will replace the bank’s legacy infrastructure, will be implemented progressively in multiple countries across the globe.

“We are excited that yet another leading US-based bank, one of the largest in the world, has selected us for our ability to support the needs of its global wholesale banking operations,” said Temenos CEO David Arnott.

“Temenos T24 Core Banking will become the bank’s backbone platform for cash management, supporting future growth in international centres, while allowing the bank to deliver world-class and consistent digital customer experience.”

Temenos, according to the CEO, invests more in R&D than any other banking software supplier. It has “an exciting vision and roadmap for its corporate banking product suite”.

The guessing game begins as to which US bank has selected Temenos. The vendor played similar naming games when it announced that a European Tier 1 had selected its systems in October. The vendor revealed the name a few days later.

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