Tenemos Group has said that Banco Sabadell, Spain’s fourth largest banking group, is using its technology to support its operations.
The Spanish bank is said to be using Tenemos T24 to support its private banking operations in the US servicing 4,500 customers, over 7,000 accounts and 1,000 portfolios.
Geneva-based Tenemos says it has provided the bank with full Tenemos T24 functionality including treasury, securities, trade finance, loans and deposits, mortgages, teller, MIS, asset management and payments modules. The company claims, by using Tenemos T24, Banco Sabadell can keep most of its data in one place resulting in greater accuracy and benefiting the bank in terms of regulatory compliance.
Tomas Arrieta Alberdi, foreign branches area manager, Banco Sabadell, says, We needed a banking system that would enable us to control the distribution and flow of data within our bank. With Tenemos T24 we have all our data centralized in one single application, which eliminates manual intervention and actively assists compliance. This means a decrease in operational costs and an increase in efficiency.