LarrainVial to Centralise Operations with T24

GENEVA, November 7, 2011 /PRNewswire/ --

Temenos (TEMN:SW), the market leading provider of banking software, today announced that LarrainVial, one of Chile's most prestigious financial services groups with offices in Chile, Peru, Colombia, Mexico, Brazil and the United States, will replace its legacy core banking system with TEMENOS T24 (T24). The institution will deploy T24 to support its retail banking clients' domestic and international holdings.

In order to better respond to its clients' increasingly sophisticated needs, LarrainVial needed a new core banking system that was able to support both its domestic and new international products and services from one platform. This will enable the company to increase its business agility by delivering a single enterprise view to rapidly offer a broad range of highly personalized services, as well as reduce systems complexity and associated costs.

After considering local vendors, LarrainVial chose Temenos based on the functional richness and product superiority of its internationally acclaimed T24 system and the geographical and operational diversity of its 1,500 strong installed base. Temenos' industry leading levels of R&D investment showed LarrainVial its commitment to product development and support. In addition, Temenos stood out as the only vendor with 100% positive client references, compared to other vendors evaluated.

"When considering how to best grow our business and support our clients, we knew we needed a technically robust and functionally rich core banking system. We had already made significant investments to update our technology; T24 was the only system that matched our sophisticated technical architecture," said Juan Luis Correa, LarrainVial's COO. Jorge Verdejo, LarrainVial's CPO added: "We took into account the feedback and satisfaction of Temenos' clients," he said. Greg Green, President, Temenos Americas, added, "We are delighted to add LarrainVial to our growing list of Americas clients. LarrainVial conducted a thorough review process across the core banking software market; we are proud that LarrainVial selected T24 as best suited to meet their requirements today and into the future. We look forward to growing our relationship and contributing to the bank's future success."

About LarrainVial

LarrainVial is a Chilean financial services group with 77 years of experience in the Chilean market. It provides advisory services, financial intermediation and asset management. The LarrainVial team is formed by over 730 people with broad experience in a wide range of financial services. LarrainVial has operated in Chile since 1934, and expanded its operation to Peru in 2004, Colombia in 2006, Mexico in 2007, Brazil in 2009 and United States in 2010.

About Temenos

Founded in 1993 and listed on the Swiss Stock Exchange (SIX: TEMN), Temenos Group AG is the market leading provider of banking software systems to retail, corporate, universal, private, Islamic and microfinance & community banks. Headquartered in Geneva with more than 60 offices worldwide, Temenos serves over 1,500 customers in more than 125 countries across the world. Temenos' software products provide advanced technology and rich functionality, incorporating best practice processes that leverage Temenos' experience in over 700 implementations around the globe. Temenos customers are proven to be more profitable than their peers: data from The Banker - top 1000 banks shows that Temenos' customers enjoy a 54% higher return on assets, a 62% higher return on capital and a cost/income ratio that is 7.2 points lower than non-Temenos customers.

For more information please visit http://www.temenos.com

Other Temenos contacts:

Max Chuard
Temenos Director
Corporate Finance & IR
Member of the Executive Board
Tel: +41-22-708-14-82
Email: [email protected]

Petra Shuttlewood
Temenos PR Manager
Tel: +44(0)207-423-3751
Email: [email protected]

Sarah Bowman
Associate Director, Investor Relations
Tel: +1-646-472-8069
Mob: +1-646-752-5463
[email protected]

Claire Barry
Hudson Sandler for Temenos
T +44(0)20-7710-8940
Email: [email protected] 

Lucy Clark
Hudson Sandler for Temenos
T +44(0)20-7710-8934
Email: [email protected]

SOURCE Temenos