Luxembourg-based Banque Raiffeisen is implementing the T24 core banking platform from Geneva-based Temenos to support its universal and retail operations.
The bank is installing a pre-configured version of the platform - T24 Model Bank - to support 220,000 accounts across 55 agencies.
The new technology will provide the bank with a centralised, front-to-back office core banking platform and will replace a 25 year old in-house mainframe system, says Temenos.
Banque Raiffeisen is also implementing Arc, the vendor's front office software product for customer retention and cross-channel selling.
Ernest Cravatte, président du comité de direction, Banque Raiffeisen, says T24 will integrate with the bank's existing Internet banking, CRM and MIS systems.
"We chose the T24 Model Bank to ensure a smooth implementation process, reduce project risk and cost, and provide strong functionality," says Cravatte. "Arc will further enhance our customer services and ensure a complete and fully integrated front-to-back operating system."
The T24 product - which will be installed by a joint team - will be deployed on IBM P-Series hardware with a DB2 database. The system is slated to go live by the first quarter of 2009.
Temenos says its T24 platform was selected by Banque Raiffeisen ahead of offerings from Avaloq and Callataÿ & Wouters.