Technology
Luxembourg Banks Aims To Transform Itself With Temenos Offering

The Swiss software firm has won a contract to support the Luxembourg-based bank's digital transformation drive.
Banque Internationale à Luxembourg has chosen Swiss software
specialist Temenos for
a major transformation project, which will see the Swiss firm’s
operating software used across its entire operations,
including private banking.
The system renovation project will focus on digitisation and
client service innovation across all business lines. The project,
to be delivered progressively over the next few years, will
result in most of the bank’s current legacy systems and platform
components replaced with Temenos solutions, delivered as a
combination of the Temenos retail, corporate banking and private
wealth suites. These contain the integrated channels, front,
middle and core banking components for the markets in which BIL
operates.
Geneva-headquartered Temenos has struck a number of deals
in recent months. In early July, Temenos launched its T24
core banking solution for Nippon Wealth, a newly-launched
institution defined as a “restricted licence bank”. A day later,
Temenos, won a contract with Standard Chartered. The bank will
deploy Temenos’s WealthSuite wealth management solution.
WealthSuite will be put to work in more than 30 markets.
WealthSuite delivers back-office standardisation alongside
front-office differentiation.
At the start of the year, Temenos went live with its wealth
management offering at Nordea Bank SA, the international private
banking arm of Scandinavian firm Nordea.