ITSS Secures Key Deal to Power BNF Bank with Cutting-Edge Temenos Transact R23, Cementing Its Role as a Trusted Leader in Banking Solutions

04/17/2024 ITSSGLOBAL

ITSS Secures Key Deal to Power BNF Bank with Cutting-Edge Temenos Transact R23, Cementing Its Role as a Trusted Leader in Banking Solutions


[Malta, ITSS] – ITSS, a prominent leader in banking technology solutions, proudly announces a landmark agreement with BNF Bank p.l.c., cementing a strategic alliance designed to drive technological innovation and expansive growth. This partnership highlights ITSS’s role as a critical player in reshaping financial services through its advanced expertise in Temenos banking software.

Under this agreement, ITSS will leverage its expertise to implement Temenos Transact (T24) to meet the evolving needs of BNF Bank. This collaboration marks a key milestone for both organizations, as they align to deliver exceptional value and service excellence to their customers. The decision to collaborate with ITSS underscores BNF Bank’s confidence in ITSS’ expertise and proven track-record in delivering successful banking projects.

The decision to award the contract to ITSS followed planning sessions held over the past two years, during which the bank gained confidence in ITSS’ capabilities. With a proven track record and successful references in Malta, ITSS emerged as the ideal partner to fulfil the Bank’s project requirements.

The scope of the project encompasses a comprehensive range of implementations on Temenos Transact (T24), including the deployment of treasury and securities modules, integration with Bloomberg, configuration of GL chart of accounts, and implementation of deposits, loans, cheques, guarantees, along with corresponding interfaces. Additionally, the project will include the configuration of Temenos Datahub.

Data migration from the legacy system is also planned as part of the project, to ensure a seamless transition to the new platform.

Official Quotes:

In response to this alliance, Thiagaraj Jayachandran, the Executive Director at ITSS said, “This collaboration with BNF Bank is a powerful opportunity for us to drive meaningful impact, leveraging our services to support BNF Bank’s growth and success. With a shared dedication to excellence and forward-thinking strategies, both organizations are poised to achieve remarkable outcomes together.”

David Power, CEO, BNF Bank, remarked, “We are delighted to be implementing Temenos T24 Transact in collaboration with ITSS. This modernization initiative underscores our commitment to delivering best-in-class banking solutions to our

customers and reinforces our position as a leader in the Maltese financial services industry.”

He further added, “ITSS is playing a pivotal role in this journey, bringing deep domain expertise and technical proficiency to ensure the successful deployment of Temenos T24 Transact. As we embark on this new chapter, BNF remains committed to delivering exceptional banking experiences and driving positive change within our organization and the communities we serve.”

About ITSS (Information Technology Solutions & Services)

Leveraging over two decades of unparalleled consulting expertise and business acumen, ITSS Global stands at the forefront of providing comprehensive banking software solutions to financial institutions globally. Headquartered in Geneva and boasting a network spanning over twenty-three strategic locations worldwide, ITSS has played a pivotal role in empowering traditional banks to strengthen their market position by modernizing core banking systems to meet evolving customer expectations. With the recent unveiling of a new logo and mark, ITSS heralds a new era of momentum, reaffirming its status as a crucial global partner of Temenos.

About BNF Bank P.l.c, Malta

BNF Bank, a leading player in Malta’s financial services sector, operates under a banking license and prioritizes ethical and social responsibility. With twelve retail branches and an international presence in London, BNF Bank offers personalized products and services to individuals and businesses. Its Corporate and Business Banking centre, Treasury function, and resolute Customer Care team support its strategic goal of fortifying its position and values while adapting to future trends. Recognized as Bank of the Year Malta by The Banker for three years in a row.

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