Laurentian Bank of Canada (LBC) has selected Temenos’ RetailSuite, including core banking platform and analytics and reporting solutions, to power its retail and commercial banking operations.
Temenos said that its technology will facilitate the bank’s technology transformation program that aims to improve agility, and minimise risks related to legacy infrastructure.
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The new platform will support rapid time-to-market with products and services, and will allow the bank to harness value of the data through analytics.
The new core banking platform will also allow the bank to scale for growth, and will support integration with various third-party systems to maximise straight through processing, the technology provider added.
The implementation of the new platform will be done by Temenos in association with Deloitte who will offer system integration and governance services.
Laurentian Bank of Canada SVP- IT David O’Neill said: "Earlier this year, LBC announced its transformation plan to our shareholders involving the modernization or our core banking platform.
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By GlobalData"This project with Temenos is key to that strategy and our future growth, as it will allow us to scale to meet the needs of our customers and support our growth. We chose Temenos because we wanted a best-in class core-banking platform that can support us for the long term in an ever-changing marketplace. We look forward to the exciting changes ahead."
