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Honda Bank needed to integrate its existing loan operations, which consisted of four disparate systems. It required a flexible system that would merge its fragmented infrastructure with minimum disruption to the business. The bank opted for T24 German Model Bank over national and international competitor solutions, on the strength of its pre-configured products and best practice processes to support its forecasted product and business volume growths. T24 will streamline Honda Bank's processes and improve efficiency, while significantly reducing its total cost of ownership.
The bank also chose TEMENOS ARC Internet Banking (ARC-IB), and the T24 Arrangement Architecture Module. Together these will help grow the bank and its competitive position in the market by delivering improved customer centricity into its business model, offering increasingly tailored services and products to customers, quickly and efficiently.
The multi-channel support offered by T24 ARC IB will provide the bank with a modern, online front office solution with a single customer view, enabling them to offer the most personalised and efficient finance services possible. T24 will cover the retail loan process, from financial contract to the dealership including application processing to automated direct debits and collection processes.
The deal was signed in June 2008 following a twelve month evaluation process. It will be a phased implementation, with the ARC IB functionality expected to go live in February 2009, followed by the remaining roll out of T24 due in October 2009 and will run on an IBM operating system. A joint implementation team is managing the roll out of the T24 Model Bank. The bank is also using Temenos Application Management (TAM) services.
Andreas Andreades, CEO of Temenos, comments: "Honda Bank is an important win for Temenos as it signifies our continued growth in the German market and the flexibility and ease of deployment of our T24 Model Bank in other sectors like automotive finance, as well as in mainstream banking operations. The bank's choice to replace four of its existing systems with T24 proves our ability to significantly reduce infrastructure and maintenance costs, whilst enabling fast time to market with new products and improved customer intimacy."
T24 is a functionally rich, scalable, and proven integrated banking system. It is delivered as a pre-configured Model Bank solution that incorporates industry best-practice, enabling fast and predictable implementations and immediate, measurable benefits. Temenos' Model Bank approach allows a fast ROI and a highly flexible and responsive approach to banking ensuring maximum business agility based on T24's flexible features. T24 offers integrated and comprehensive information on the institution at all times including a single customer view, and a single view of the enterprise including risk and profitability.
T24 incorporates modern technology including a comprehensive Service Orientated Architecture (SOA), fully enabled for standard, SOAP (Simple Object Access Protocol) web services, and BPEL process execution and compliant with industry leading ESBs (Enterprise Service Buses). T24 can be deployed on fully scalable, multi-server n-tier architecture. It provides a full front-to-back solution from electronic delivery channels such as mobile devices and internet banking right through to settlement, general ledger and other back office functions all in a fully integrated, reliable and cost effective environment. Temenos' total commitment to open standards enables its customers to benefit from the latest advances in technology ensuring business agility, continuity, data integrity and reduced downtime delivering a significant, immediate and ongoing return on investment.
About Honda Bank GmbH
Honda Bank GmbH is a fully licensed bank based in Frankfurt am Main, Germany. The Bank is a 100% subsidiary of the Honda Group and is part of its finance services division that supports the business with retail customers and Honda dealers through its financial products. Since the establishment in 1998 Honda Bank GmbH has continuously enlarge its palette of financial products and services for the Honda cars and motor bikes business. The customers of Honda Bank GmbH are Honda Car and Motorbike dealers as well as retail and business customers that are using Honda Bank finance or leasing services.
About Temenos
Founded in 1993, Temenos Group AG is a provider of integrated modular core banking systems to over 600 financial institutions in more than 120 countries worldwide. Temenos software provides banks with a single, real-time view of the client across the enterprise, enabling banks to maximize returns while streamlining costs. Whether providing 24/7 functionality to the wholesale, retail and private or universal banking sectors, partnering with central banks on core system replacement, or working with the World Bank on solutions for the emerging markets, Temenos knows banking. The company has a transparent approach to its operations and brings to bear its experience, expertise, commitment and professionalism on every project.
Headquartered in Geneva, Switzerland, the company has 43 offices in 33 countries and is listed on the main segment of the SWX Swiss Exchange (TEMN).
CONTACT: Max Chuard, Director Corporate Finance & IR Member of the Executive Board, Temenos Tel: +41 (0)22 708 1157 e-mail: mchuard@temenos.com Ben Robinson, Investor Relations Manager, Temenos Tel: +44 (0)207 290 3012 e-mail: brobinson@temenos.com Petra Shuttlewood, PR Manager, Temenos Tel: +44 (0)207 423 3751 e-mail: pshuttlewood@temenos.com WWW: http://www.temenos.com Evelina Amanatidou, Team 660, Metia for Temenos Tel: +44 (0)20 3100 3592 e-mail: evelina@metia.com Sole Chirco, Team 660, Metia for Temenos Tel: +44 (0)20 3100 3718 e-mail: sole.chirco@metia.com
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