Temenos, providers of banking integration software, is to equip Investec Bank’s Australian unit with its Temenos T24 package, to support its cash management and deposit raising activities.

 “Client retention and acquisition is a key requirement to our long term business success in today’s aggressive market. With T24 now supporting our deposit activities, we have the flexibility to rapidly deliver more sophisticated and bespoke services to our clients in response to both industry changes and client needs.

T24 provides an integrated platform which has enabled the consolidation and quality improvement of our customer data, which will aid our private bankers in providing innovative services to our clients,”said Gavin Brandenburger, head of Private Bank Infrastructure, at Investec Bank Australia.

T24 replaces systems which the bank had operated for over a decade. Working closely with Investec, Temenos installed T24, including complex deposits functionality on Microsoft SQL Server 2008 to support the bank’s Sydney, Melbourne and Brisbane offices.

“High net worth clients have become increasingly sophisticated, with more complex investment requirements which banks need to able to respond to. Banks are increasingly looking for transaction based income as a way to manage capital and minimise risk during the current financial downturn, driving the need for superior and bespoke customer service to achieve this.

This implementation highlights Temenos’ continued commitment to provide our products on all major technology platforms, including Microsoft SQL Server, contributing to reductions in cost of ownership through the utilisation of existing in-house skills,”said Andreas Andreades, chief executive of Temenos

Investec Bank Australia provides a diverse range of investment banking products and services to an intimate network of high net worth individuals and their businesses.