14 July 2010 News

 

New online private bank live with Temenos

BforBank, a new online subsidiary of Crédit Agricole Regional Banks and Crédit Agricole , has gone live with the TemenosT24 core banking platform.

BforBank is an online private bank offering savings, life insurance, mutual funds and e-brokerage to the French mass affluent market, with the intention to be "the first true online private bank".

"We aim to meet the demands and expectations of an increasingly exacting, financially literate and technology savvy consumer population through a content rich, interactive user experience. To date, the banking sector has been poor at giving customers this kind of user experience and we aim to break the mould," said Vincent Chatard, chief operating officer at BforBank. "T24 is a truly 24x7 system, which is absolutely essential because in internet banking, the bank never stops. Furthermore, its openness delivers ease of integration with other systems and offers us the flexibility to manage customer accounts efficiently - for example, having all the data held in T24 means there is no need to replicate data, so we can open accounts up very quickly for our customers."

A factor that influenced the choice of Temenos was its presence in France following its acquisition of French vendor Viveo last year.