Financial services

Stanford International Bank takes T24

2 July 2008

Stanford International Bank has gone live with Temenos T24 after replacing its legacy systems.

The Temenos Professional Services team took just 15 months to deploy T24 in the bank’s operations and client services divisions to deliver increased automation, advanced reporting and efficient straight-through processing. Running on Microsoft and other servers, it now supports 60,000 customer accounts with assets of over US$7 billion.

The success of this implementation has led to Temenos establishing a strategic alliance as the banking software partner of Stanford International’s parent company, Stanford Financial Group.

“We were looking for modern technology that would help us reduce the time it takes to design new products,” said Juan Rodriguez-Tolentino, president of Stanford International Bank. “We also needed a robust, fully redundant, high availability infrastructure that offered exceptional rates of straight-through processing. After a thorough selection process, T24 emerged as the system that could meet these requirements. We also wanted a partner that could deliver outstanding customer service and felt that Temenos was best positioned to deliver this level of support.”

“Stanford International Bank is clearly benefiting from T24’s rich functionality and technology advantage in serving private banks worldwide,” said Andreas Andreades, CEO of Temenos. “We are delighted to be working together with the Stanford Financial Group, extending the use of T24 in the group.”