Enables banks to scale resources effectively and increase volume according to customer demand
Temenos, a provider of banking software, has launched Temenos T24 (T24) on the Microsoft Windows Azure platform, making T24 the first core banking system to go into production with customers on Azure.
The combination of T24 and the Windows Azure platform, including SQL Azure, is expected to allow banks to remove the high data centre costs associated with running a multi-application environment by moving these operations to a consumption based pricing model.
According to Temenos, banks will no longer need to expend time and budget on provisioning and operating hardware resources, as running T24 natively on the Windows Azure platform will enable them to scale resources effectively and increase volume according to customer demand.
As part of this launch, Temenos has embarked on its first cloud migration to move a network of 12 Mexican financial institutions from a traditional hosted environment onto the Windows Azure platform.
Five of these – Sofol Tepeyac, Grupo Agrifin, Findeca, Soficam and C.Capital Global – are in the first phase of migration, which is currently underway and is expected to be completed by second quarter of 2011. The remaining seven will migrate later in 2011.
Temenos CEO Andreas Andreades said the move to take T24 into the cloud will offer an exciting future for specific banking markets and open up new opportunities for Temenos.
"As a key strategic technology partner, we are delighted to be leveraging our relationship with Microsoft, which not only reinforces T24’s close compatibility with Microsoft technologies to offer banks a core platform that operates extremely effectively in the cloud, but also highlights our dedicated investment to evolve T24 in response to market and customer change," Andreades said.