Banking firm Fortis has selected Swiss-based Temenos, a provider of integrated core banking systems, to support its entire retail banking operations.
This is the first in a series of agreements to build a cross-border IT platform that will allow the bank to standardize its processes across its European operations and encourage collaboration across divisions.
The bank will implement the system in stages, with operations in the Netherlands expected to go live at the end of 2008.
Retail banking is expanding internationally, so we need a unified IT system across borders, explains Alain Deschenes, Fortis CIO. This contract can be seen as a kick-off of our initiative to transform our retail operations across the seven European countries where we are already present. It will contribute to a modern core architecture that allows us to standardize our processes across borders and centrally manage more than 15 million customer accounts.