Dresdner Kleinwort signs with Temenos for cash management and payment system   24th September 2007 Dresdner Kleinwort has selected TEMENOS 24 (T24), Temenos' modular core banking system, to support 16 subsidiaries and branches across Europe, Asia Pacific and the US . Dresdner Kleinwort, headquartered in London and Frankfurt, is the investment banking division of Dresdner Bank AG. The bank was looking for a more scaleable and efficient banking system that could help it to meet upcoming SEPA requirements, a major initiative to harmonise payments throughout Europe , as well as extend its Global Banking business line's leading position in corporate cash management. Pascal Emile, Global CIO, Dresdner Kleinwort, says: “In addition to changes in customer requirements, we expect to see a significantly increased business volume in corporate cash products as a result of SEPA. We needed a platform that could help us to meet these challenges while providing a single centralised system across our branch network. T24 will ensure that Dresdner Kleinwort is ready for SEPA ahead of the market and can improve its service offering to corporate customers.” Temenos will lead the implementation, which is expected to initially go live in H1 2008 in Austria . This will be followed by a phased approach across its remaining network of 16 international branches. Andreas Andreades, CEO, Temenos, adds: “The fact that T24's SEPA functionality was important to this deal proves SEPA is causing banks to re-evaluate their payments and cash management systems. Dresdner Kleinwort joins a number of other prestigious international cash management users of the T24 system, demonstrating that our significant investment in this area has proved to be attractive.”
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