Monaco's Compagnie Monegasque de Banque (CMB) is deploying Temenos' flagship banking platform, T24, to replace outdated legacy systems at its head office and bank branches.
Temenos says the installation will include an asset management front end module which will provide performance attribution and modelling as well as a single data repository for reporting and management purposes.
Also Menduni, CIO, CMB, says: "We realised that we needed a replacement for our existing system that could meet the expanding demands of modern banking. Specifically, our architecture had become outdated and the ability to add new capabilities was restricted."
The system is being implemented on IBM servers with jBase database software.
The deal was announced on the opening day of the Temenos client forum in Monaco. Finextra has an embedded reporter filing a blog at the two-day event: Monaco or bust