Modernizing Banking Systems: Enabling 30% Faster Processing/Enabling 24/7 Banking Facility
Case Study

Overview

In the modern financial landscape, institutions face challenges with outdated systems and inefficiencies. Tech Mahindra partnered with a leading European bank to modernize its core banking operations using the Temenos T24 solution and advanced APIs, enabling enhanced scalability, improved efficiency, and seamless customer experiences.

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Client Background and Challenges

A leading European financial institution, headquartered in Vienna with operations across Central and Eastern Europe, faced significant challenges in modernizing its core banking operations. Its outdated legacy system hindered product launches, incurred high maintenance costs, and lacked essential integration features. Operational inefficiencies, including delays in processing and limitations in handling high transaction volumes, further strained its capabilities.

Our Approach and Solution

Core System Transformation

Implemented Temenos T24 with data migration, integration, and training.

API Integration

Enabled seamless third-party connectivity with advanced API technology.

Infrastructure Management

Delivered infrastructure setup and 24/7 post-go-live maintenance.

Enhanced Capabilities

Integrated 50+ interfaces, reducing COB run times and scaling digital operations.

Business and Community Impact

  • COB Run Time: Achieved a 30% reduction in COB run times, enhancing operational efficiency and transaction processing.
  • Faster Product Launches: Improved responsiveness to market needs with quicker product launches.
  • High Availability: Enabled 24x7 operations with a scalable and reliable system architecture.
  • Reduced Errors: Ensured 100% same-day transaction processing, reducing errors and enhancing accuracy.