Switzerland-based Temenos has reached an agreement with Bermuda Commercial Bank (BCB) to provide its T24 core banking system Model Bank, to boost the bank’s business efficiency.

Additionally, the bank has also selected some other Temenos products, including Business Intelligence, Insight Risk, Anti-money laundering and FATCA compliance.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The Bermudian lender believes that T24 integrated technologies will allow it to enhance operational efficiency and effectiveness by streamlined and automating and processing across product offerings.

The new suite of products will enable BCB to develop its channel offerings and business lines, as well as deliver better reporting and analysis through the Insight modules, thereby considerably improving the bank’s customer service, claims Temenos.

Bermuda Commercial Bank CEO, Peter Horton, said, "The out-of-the-box T24 Model Bank solution will provide for a more structured and controlled implementation, which is a key criterion for us at this stage."

"The ability to progressively tailor to our needs was also very attractive, as it minimises risk, while allowing us to develop our channel offerings and business lines, with freedom of choice of modules.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

"Finally, the straight-through-processing opportunities T24 presents will enable BCB to more effectively utilise its resources, giving us the ability to grow the business and increase productivity at the same time," Horton added.

Formed in 1969 BCB had approximately $468m in customer deposits in September 2013.