28 October 2009 News

 

Bank of Georgia using T24

Bank of Georgia has selected Temenos T24 to consolidate its operations. The deal, signed in September 2009, is in line with the bank's strategic objective of increasing technological enhancements to try and improve operational efficiency and customer service.

Additionally, the system should enable Bank of Georgia to centralise its IT operations across Georgia, Belarus and Ukraine.

"I am delighted that the bank continues to exploit its strong capital and liquidity position, which has enabled us to invest in a leading core banking system. I strongly believe that the new system will improve our competitiveness and take our business to the next level, as the bank moves from a local platform to an internationally acclaimed system. We felt Temenos best met our complete spectrum of operational requirements. The pre-configured nature of T24 Model Bank will dramatically reduce the level of coding in configuring new products, generating an estimated 60% reduction in time to market. Furthermore, we have estimated that the single customer view delivered through T24 will generate approximately 20% increase in call rate per call centre employee, giving a faster, more efficient service. Accurate, holistic information will enable our staff to seize more cross selling opportunities and we anticipate approximately 30% improvement in telesales performance", said Irakli Gilauri, chief executive of Bank of Georgia.

The bank opted for T24 Model Bank for Universal Banking over offerings international competitors to integrate its operations on a single platform and to try and address requirements across its three business domain areas from one central point. T24 will automate a variety of processes, including Nostro reconciliation, whilst eliminating data entry for the bank's wealth management CRM system.  This in turn should lessen the need for resources and further drive down costs across all business areas, including cash management services for its corporate client base.