Temenos, a banking software development company, has organised a forum to upgrade the skills of bankers in the use of its software in their operations.
The forum, held in Accra, was under the theme “Achieving World-Class Banking Efficiency and Services Delivery”.
It was meant to bring together customers who are already using the software and share with them some of the new innovative products.
Over 150 participants from the banking industry attended the forum. Discussions at the forum focused on products such as T24 Upgrade features, mobile banking, treasure trader, inverter solution, ARC mobile and many more.
He indicated what T24 does is that it handles all financial systems of banks when is come to money transfer, electronic alert (e-alert), depositing, withdrawal as well as any other banking financial product.
He said that in order to improve upon their software effectively, Temenos spent about 20% of their annual revenue on research and development alone.
“For the past five years, we have been able to spent US$500million on research and development,” he added.
The company has offices in 65 countries of the world, with about 1,200 banks using the Temenos T24 product. In Ghana about 10 banks are currently using the product, including CAL Bank as well as some rural banks in the country.
Ralph Talbi, Temenos Client Relationship for West Africa, said Temenos products such as T24 enables the bank to run its bank statement effectively.
He explained that Temenos is a banking software specialist, with its award-winning T24 core banking platform at the heart of its solution portfolio. Their consistently high annual investment in research and development enables it to constantly invest in new technology, functionality and in meeting new regulatory requirements - allowing them to deliver products that are consistently ‘state of the art’.
He expressed concern that the company is committed to open standards and working in partnership with the industry leading hardware, database and middleware solution providers to ensure that its software is available on and optimised for a wider range of technology platforms than any other core banking vendor.
“We believe that the open architecture approach and leaving the choice of platform to their customers enables clients to achieve the lowest total cost of ownership and to leverage existing skills, investments or vendor relationships in order to achieve the highest possible return on investment,” he stated.
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