Bank Standard has become the first bank in Azerbaijan to go live with T24 solution from Temenos Group. T24 now provides the bank with centralised core banking capabilities across its retail, treasury and Internet banking operations. The system, which went live in June 2008, has been implemented at the bank’s branch in Baku, Azerbaijan, with a further 13 sites, including the head office, to go live later in the year. The bank has deployed T24 with an extensive set of modules including foreign exchange, funds transfer, loans and deposits, money market, nostro reconciliation, trade finance, securities and portfolio management, teller and internet banking. The system was implemented by Temenos’ Moscow-based team. Based on this implementation, Temenos has created the Model Bank platform for Azerbaijan, which will be used as a standard for further implementations in the country. The bank will deploy T24 in a further seven branches in 2008. This is part of a two-year expansion plan during which the bank will look to grow its assets and loans by 35-40% and extend its branch network to 21 sites. The system runs on HP servers with an HP Unix operating system and Oracle database.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.