Harrods Bank implements Temenos T24 core banking system
UK-based Harrods Bank is implementing a new core banking system, having abandoned the FIS Profile project, Banking Technology understands.
The new platform is Temenos’ T24. Temenos declined to comment on this development.
Switzerland-based IT consultant and integrator Sofgen (part of Tech Mahindra) was selected as the implementation partner.
The project is now in the analysis and design phase.
The system selection was completed last year, it is understood, with Misys and Temenos making it to the final. Misys was pitching its Fusionbanking solution.
Misys is the incumbent supplier to Harrods Bank – its Bankmaster system has been running at the bank for many years.
In 2015, Harrods decided to replace it with FIS’s Profile core banking system, but the project was subsequently shelved. There was a management shake-up at the bank, including the departure of the senior executives responsible for selecting Profile.