Another Azerbaijani bank plans to completely switch to T24 software

Business Materials 4 July 2011 19:05 (UTC +04:00)

Azerbaijan, Baku, July 4 / Trend I.Khalilova/
The head office of the Azerbaijani Texnika Bank will fully switch to modern software T24 of the Swiss company Temenos by late August, Bank CEO Samir Huseynov told Trend.

"The bank has introduced T24 software at its three major branches in Baku for testing. After the head office's moving to new software by late August, we plan to install this program on a monthly basis in four or five offices," Huseynov said.

In addition, he said, the new offices and branches of Texnika Bank will be created based on software of Temenos.
Today, the bank has 35 offices the country and one branch, but their number will increase to 15 by late 2011.
The new software provides automation of all banking operations, significantly increase the speed of delivery of services and transactions, as well as create the basis for more rapid and effective introduction of new bank products and services.
System T24 includes an extensive set of modules covering virtually all banking transactions, including currency exchange, loans, deposits, funds, foreign exchange market, trade finance, securities, asset management, cash and settlement operations.
The Swiss company Temenos expands cooperation with Azerbaijani banks. T24 software is used by the Central Bank of Azerbaijan (CBA). The company also collaborates with four commercial banks - Bank Standard, AGBank, Texnikabank, Amrahbank. In 2008, Bank Standard installed T24 system in its branch "Arena" and completed the installation in 2010. It was the first user of this program in the banking sector of Azerbaijan.

"Azerbaijan is a priority market for the company. We intend to increase the number of banks with which we cooperate 2-3 times in future," Temenos CEO on CIS and Baltic Sergey Metelsky said during his Baku visit in 2010.