Temenos, the Swiss financial services technology firm, has unveiled a new version of its core banking software system, T24, along with a new “componentised” edition of the product called T24 Enterprise Java Edition.

T24E offers T24 banking functions restructured into discreet components based on the system’s service orientated architecture, the firm said in a statement. This means banks can introduce new functionality in phases in line with their own requirements and upgrade individual components as and when they need to, the firm believes. T24E is initially available as a Java deployment running under standard Java application servers.

The first component T24 component featured within T24E is Enterprise Customer, which offers the option of standalone implementation, includes a 360-degree view of customer positions comprising of balances in arrangements, limits and portfolios. The firm plans to make further components available through forthcoming versions of the software.

Meanwhile, the R11 version of the T24 core banking system boasts some 200 functional enhancements, including: upgrades to the Arc front-office; the launch of apps for the latest iPhone, Android and Windows Phone 7 handset platforms; and a new standard interface for the Triple’A Plus portfolio management system. Temenos also said that in future it would release a Microsoft version of T24E called T24 Enterprise .NET Edition.

“Our market continues to mostly use legacy in-house core banking systems and is under-penetrated by modern packaged solutions. High IT maintenance costs for these legacy systems hinder banks from returning to pre-downturn levels of profitability and returns; our belief is therefore that core system replacement remains a compelling priority,” said Andreas Andreades, chief executive of Temenos.

“In T24 Enterprise we have placed greater emphasis on a significant architectural renewal through componentisation and Java deployment, which offer particular appeal to large scale operations especially those running on IBM System z mainframes.”