Temenos Group: Queensland Treasury Corporation selects Temenos T24 as its core banking platform

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GENEVA, Switzerland, Jul 02, 2009 (M2 PRESSWIRE via COMTEX) -- TMNSF | Quote | Chart | News | PowerRating -- Temenos (SWX: TEMN), the global provider of integrated core banking systems, today announced that Queensland Treasury Corporation (QTC) in Australia, has selected TEMENOS T24 (T24) as the core platform of their Onlending and Investment Administration (OLIA) solution. QTC, as the Queensland Government's central funding authority and corporate treasury services provider, signed the deal with Temenos as part of a program to increase the flexibility of its products and service efficiency for its customers.

To improve its ability to respond to changing customer needs, QTC is actively reviewing the systems capabilities that support the delivery of its lending and investment products. After a rigorous evaluation process, QTC selected T24 as the cornerstone solution to replace a portfolio of internally developed legacy applications. QTC selected T24 for its flexibility and ability to integrate with broader corporate information initiatives.

Andreas Andreades, CEO, Temenos comments: "Queensland Treasury Corporation is our third new win into the Australian market in less than 18 months and demonstrates the eager take up of T24. We consider QTC a prestigious client that signifies our continued growth in this marketplace and will strengthen our position as a leading core banking solutions provider in the region"

T24 is able to easily integrate into QTC's existing systems environment using XML and Web Services and will also be running on the institution's' preferred hardware and database options, Windows Server with an Oracle database. The system is expected to go live in middle of 2010. QTC is also using Temenos Application Management (TAM) Services to roll out the T24 system.

About Temenos T24

T24 Model Bank is packaged core banking software which includes banking best practices based on Temenos' implementations in over 600 financial institutions and 120 countries across the Retail, Corporate, Universal, Private Wealth, Islamic and Microfinance and Community banking sectors. Its highly automated approach delivers short implementations, guarantees lower cost of ownership with rapid and measurable ROI. T24 allows banks to replace a large number of disparate legacy systems, thereby streamlining their operations. Banks around the world use T24 to rapidly deliver innovative, market-driven products and services tailored to meet the changing needs of their customers. T24 enables banks to deliver growth, while managing risk and cost, and ensuring that they remain ahead of the competition with the most efficient and economical business model in the market.

T24 provides banks with unparalleled richness in functionality on an integrated, Service Oriented Architecture (SOA), with front- to-back office support and is fully enabled for standard SOAP (Simple Object Access Protocol) web services, and BPEL process execution. 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, all resulting in a significant delivering a significant, immediate and ongoing ROI.

About QTC

Queensland Treasury Corporation is the Queensland Government's central financing authority and corporate treasury services provider, with responsibility to:

* source and manage the debt funding to finance Queensland's infrastructure requirements in the most cost effective manner

* provide financial and risk management advice and services to the Queensland Government and it's Queensland public sector customers, and

* invest the State's short- to medium-term cash surpluses, maximising returns to customers through a conservative risk management framework.

For further information, please visit www.qtc.com.au

About Temenos

Founded in 1993 and listed on the Swiss Stock Exchange (SWX: TEMN), Temenos Group AG is a global provider of banking software systems in the Retail, Corporate & Correspondent, Universal, Private, Islamic and Microfinance & Community banking markets. Headquartered in Geneva with 52 offices worldwide, Temenos serves over 700 customers in more than 120 countries. Temenos' software products provide advanced technology and rich functionality, incorporating best practice processes that leverage Temenos' experience in over 600 implementations around the globe. Temenos' advanced and automated implementation approach, provided by its strong Client Services organisation, ensures efficient and low-risk core banking platform migrations. Temenos annually invests around 20% in R&D, significantly more than its peers, into a single fully packaged upgradeable software release, which ensures all Temenos customers benefit from modern technology and support indefinitely. Temenos is top of the IBS Sales League Table 2008, winner of the Best Core Banking Product category in Banking Technology magazine's Readers' Choice Awards 2008, winner of the Financial-i Leaders in Innovation award for the most innovative core banking systems solution 2008 and is listed in the American Banker top 100 FinTech companies.

For more information please visit www.temenos.com.

CONTACT: Evelina Amanatidou, Team 660, Metia for Temenos Tel: +44 (0)203 100 3592 e-mail: Evelina@metia.com Kayleigh Stoneage, Team 660, Metia for Temenos Tel: +44 (0) 203 100 3724 e-mail: Kayleigh.stoneage@metia.com Temenos WWW: http://www.temenos.com

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