Temenos, the provider of integrated core banking systems, announced the launch of Temenos Insight, a comprehensive, packaged business intelligence suite that empowers banking staff to make faster, fact based decisions to strengthen customer insight, risk and compliance and performance management strategies across the enterprise. Insight is a modular, browser based application, underpinned by Microsoft’s business intelligence platform, and fully integrated with Temenos T24 (T24). Existing T24 users can deploy the system in less than eight weeks and begin to realise benefits immediately upon implementation, whilst minimising disruption to the existing infrastructure, services and cost base. This new offering stems from Temenos’ strategic acquisition of Lydian Associates, formerly a UK-based business intelligence software provider for the banking sector, made in November last year.

“We are delighted to now be offering our clients a complete business intelligence product suite which has proved to be an excellent fit with T24’s functionality. High quality, real time information is clearly a strategic asset for banks and has become even more vital to their survival in this era of economic uncertainty.” comments Andreas Andreades, CEO, Temenos, “Banks across all sectors and geographies will now be able to explore enterprise data in depth, automatically identify trends, implement effective risk management and compliance strategies and rapidly uncover hidden opportunities. As a result, banks are able to allocate capital to the most profitable activities for improved business performance.”

Jim Eckenrode, Banking and Payments Research Executive, Tower Group comments: “Going forward, we believe that business intelligence as part of a larger effort at improving customer and business insight will be critical to success in the global banking industry. With competition intensifying, data volumes exploding, and risk management moving to the forefront, developing a robust capability to manage information is no longer a nice-to-have.”

Using Insight, banks can generate daily profitability reports across portfolios, products, departments and branches throughout the entire enterprise to assess performance against organisational and market changes, creating an agile and adaptable business environment. As it is fully integrated with T24, Insight will enable banks to build on the customer centric nature of T24. Last September, banks using T24 were able to assess the counterparty exposure that the Lehman Brothers collapse had on their businesses in just 30 minutes. Banks can now generate this type of information immediately with Insight, to gain a stronger understanding of client attitudes, behaviours, profitability and counterparty risk for smarter retention and acquisition strategies.

Insight is compatible with all past and current releases of T24. As the enterprise data is imported from T24, information can be presented within a structure that reflects the way in which a bank operates to simplify and lessen future support requirements, reduce risk and lower the cost compared to a standalone business intelligence system.

As a fully integrated solution, Insight automates the T24 data capture process, reducing risk of errors and giving staff more time to focus on creating value-add analysis, ensuring rich information is leveraged so trends across customer segments, regions and business areas can be quickly identified. In addition, as Insight is underpinned by Microsoft technology which is familiar to most users, relevant and accurate information will be accessible to more staff, removing the need for specialist skills to generate enterprise intelligence.

David Vander, Managing Director of Worldwide Banking Industry, Microsoft, says: “Microsoft and partners such as Temenos together provide solutions to financial services customers globally that improve corporate performance and drive new operational efficiencies. Temenos Insight on Microsoft SQL Server 2008 provides significant business intelligence capabilities that drive a strong connected experience for financial services customers both today and the future.”