October 16 2006
The Bank of East Asia (BEA), has gone live with TEMENOS T24 in its UK branches at London and Birmingham . The system supports some 10,000 customers across the bank's retail, commercial and corporate divisions. BEA is the first bank to go live with TEMENOS T24 Model Bank for Equation users, a pre-customised version, which TEMENOS says enables users of the Misys product to quickly replace the system at a low cost.

Joseph Chow, General Manager, BEA, says: “After using Equation for the past 16 years, we have built a lot of BEA specific developments to support our daily operations.  We are impressed that the TEMENOS team can quickly adapt their technology to meet our particular needs and help us to implement T24 in such a short time. The system interfaces with our existing infrastructure and we have reduced the cost of ownership by eliminating the need for multiple applications. We can now start to introduce new products quickly and continue to improve process efficiencies.”

Andreas Andreades, CEO, TEMENOS, adds: “As a pilot for our Model Bank for Equation users, this is a significant project for us and one that demonstrates our ability to offer a fast, low-risk and cost-effective implementation process. Our approach provides a common sense solution to the technology obsolescence issues that the Equation user base is facing today.”