Under the terms of the deal, both parties are expected to deliver core banking on an Application Service Provider (ASP) model to European banks. As a result, Wipro is set to provide banks with a service based on Temenos’ T24 core banking offering, which can be accessed over the internet. An ASP model allows banks to centralize the licence, maintenance, services and infrastructure costs of a banking application into a predictable monthly fee.
T24 is a banking system that provides multiple application server support to its users. The system ties together a number of channels and provides CRM functionality as well as transaction processing services.
Founded in 1993, Temenos is a global provider of banking software systems in the retail, corporate as well as community banking markets.
In recent news , Ghana-based universal commercial bank uniBank has gone live with ARC Mobile, the multi-mobile channel platform developed by Temenos.
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