Temenos, a Swiss-based provider of integrated banking systems, has launched Insight, a new business intelligence software package which is intended to strengthen firms' customer insight, risk and compliance and performance management strategies.

Insight is a modular, browser-based application which is compatible with all releases of the Temenos' T24 banking system, meaning that existing users can implement Insight in under eight weeks, the firm said.

Using Insight, banks can generate daily profitability reports across portfolios, products, departments and branches to assess performance organisational and market changes.

“We are delighted to now be offering our clients a complete business intelligence product suite which has proved to be an excellent fit with T24’s functionality. High quality, real time information is clearly a strategic asset for banks and has become even more vital to their survival in this era of economic uncertainty,” said Andreas Andreades, chief executive of Temenos.

“Banks across all sectors and geographies will now be able to explore enterprise data in depth, automatically identify trends, implement effective risk management and compliance strategies and rapidly uncover hidden opportunities. As a result, banks are able to allocate capital to the most profitable activities for improved business performance,” he said.

The launch of Insight stems from Temenos’ acquisition in November 2008 of Lydian Associates, a UK-based business intelligence software provider.

Temenos, which was founded in 1993, is headquartered in Geneva and has 52 offices worldwide.