Baltic International Bank (BIB) has gone live with global core banking software Temenos T24 as part of a development strategy to deploy an integrated systems infrastructure, maintain and enhance its functionality and improve the overall quality of transaction processing.
T24 enables the bank to provide higher quality service (since it decreases the time required for transaction processing) and update information shown on customer account statements much more rapidly. The deployment of the new banking system now provides support for the following business units: those dealing with accounts and payments, cash operations, loan and deposit operations, trade finance, and securities-based operations.
Director of IT and business maintenance, Albert Reznik, said: “With T24, the bank now has the technical foundation required to raise the quality of its operational infrastructure, ensure fast and efficient transaction processing, reduce operational risks and optimise expenses associated with the support for and development of information technologies used by the bank.”
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