Investment bank Dresdner Kleinwort is rolling out the T24 core banking platform from Swiss vendor Temenos across 16 subsidiaries and branches in Europe, Asia and the US.
The Dresdner Bank division will deploy T24 Model Bank - a pre-configured version of the modular core banking application - to replace its in-house corporate cash management and payment system.
Temenos says the bank was looking for a scaleable and efficient banking system that could help it to meet upcoming Sepa requirements.
Pascal Emile, Global CIO, Dresdner Kleinwort, says: "In addition to changes in customer requirements, we expect to see a significantly increased business volume in corporate cash products as a result of Sepa. We needed a platform that could help us to meet these challenges while providing a single centralised system across our branch network."
Temenos is leading the implementation, which is expected to go live in Austria in the first half of 2008 before a phased approach across the the bank's remaining network of 16 international branches.
Commenting on the deal, Andreas Andreades, CEO, Temenos, adds: "The fact that T24's Sepa functionality was important to this deal proves Sepa is causing banks to re-evaluate their payments and cash management systems."