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02/12/2011

By Scott Thompson

IBM is to provide consulting and integration services plus software and hardware resources for Temenos implementations.

Building on an 11 year technology collaboration and a services relationship focused on wealth management, this new agreement will benefit joint clients such as Industrial Bank of Korea and Marfin Bank.

“Extending our collaboration was a natural progression to help banks address today’s economic pressures around regulation, competition and consolidation. Regulatory changes will fundamentally impact banking business models worldwide, particularly in the mature market economies of North America and much of Continental Europe. With this enhanced services structure. Temenos and IBM will together help banks adopt solutions to transform business efficiency, cut costs and mitigate risk,” says Mike Head, global alliances director, Temenos.

“IBM and Temenos have successfully been teaming for decades to help banks around the world employ smarter banking initiatives. Under this new agreement, we will help banks explore new business models and exploit new pockets of profitability. By combining our strengths to offer a powerhouse of services with associated hardware and software support, we will be able to offer banks the right expertise and technologies at a critical time to deliver innovative products faster than the competition,” adds Rusty Wiley, general manager, banking and financial markets, IBM.

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