An Binh Bank goes live with Temenos T24 model bank

Friday, June 20, 2008
Temenos Group, the provider of integrated core banking systems, today announced that An Binh Commercial Joint Stock Bank (ABBANK), one of Vietnam's largest joint-stock banks by chartered capital, has become the seventh client in the country to go live with TEMENOS T24 (T24). T24 now provides the bank with centralised core banking across its retail and corporate banking operations in 57 branches and is helping the bank to launch a range of new delivery channels including ATM and internet banking.

ABBANK implemented T24 Model Bank, which includes pre-configured products and processes for banking best practice, in order to reduce its implementation time and costs, minimise customisation and lower project risk. This is a Universal Model Bank implementation built on the Vietnamese Model Bank country platform for both retail and corporate operations. Temenos developed the Vietnamese Model Bank over eight months in order to combine T24 functionality with all State Bank of Vietnam (SBV) related requirements as well as meeting all the banking practices in Vietnam. ABBANK is the first local bank project that uses the Vietnamese Model Bank. T24 was deployed jointly by the bank, a local Temenos Professional Services team and other specialist partners over an 11-month period.

Nguyen Hung Manh, vice Chair of ABBANK says: "Because T24 Model Bank is a proven technology, we have been able to benefit from a fast, low-risk implementation. We are now ready with a banking platform that will support the bank as it launches new delivery channels to help us achieve rapid business growth over the next two-years."

T24 will support the bank's plans to increase its customer base from 55,000 accounts to two million by 2010. T24's flexibility and scalability will also help expand its branch network to 200 locations across the country. This exponential growth could not be achieved with the bank's previous system.

During the evaluation period, ABBANK considered several vendors before signing the deal with Temenos in December 2006. The implementation project was initiated in February 2007 and went live on 9 January 2008. Temenos installed T24 core functionality, including comprehensive retail and corporate banking capabilities. The system runs on IBM AIX. T24 replaced GoldRiver, the bank's legacy system.

Andreas Andreades, CEO, Temenos, comments: "The joint deployment with ABBANK is especially important as it demonstrates the quality of our implementation skills combined with our strong local knowledge. As our seventh go live in Vietnam, this project also further confirms our commitment to the Vietnamese market, which we support through our local staff and offices as well as our deep understanding of best-practice banking procedures inherent in Vietnam Model Bank. ABBANK Bank is fast becoming a large retail bank and we are happy to support them in their growth plans. With our increasing focus on retail banking we are now able to offer immense flexibility and richness of functionality combined with a superior cost of ownership. Our fully upgradeable packaged core banking system is highly beneficial for banks that previously had to rely on bespoke and heavily customised solutions."

TEMENOS T24 is a functionally rich, scalable, and proven integrated banking system. It is delivered as a pre-configured Model Bank solution that incorporates industry best-practice, enabling fast and predictable implementations and immediate, measurable benefits. Temenos' Model Bank approach allows a fast ROI and a highly flexible and responsive approach to banking ensuring maximum business agility based on T24's flexible features. T24 offers integrated and comprehensive information on the institution at all times including a single customer view, and a single view of the enterprise including risk and profitability.

T24 incorporates modern technology including a comprehensive Service Orientated Architecture (SOA), fully enabled for standard, SOAP (Simple Object Access Protocol) web services, and BPEL process execution and compliant with industry leading ESBs (Enterprise Service Buses). T24 can be deployed on fully scalable, multi-server n-tier architecture. It provides a full front-to-back solution from electronic delivery channels such as mobile devices and internet banking right through to settlement, general ledger and other back office functions all in a fully integrated, reliable and cost effective environment. Temenos' total commitment to open standards enables its customers to benefit from the latest advances in technology ensuring business agility, continuity, data integrity and reduced downtime delivering a significant, immediate and ongoing return on investment.

About ABBANK

An Binh Joint-Stock Bank (ABBANK), is one of the leading joint-stock banks of Vietnam and one of the ten banks with the largest registered capital of Vietnam. After 13 years of growth and development since establishment in 1993, ABBANK has made great advances in its business performances and results in the last 3 years, marked by significant milestones such as: Electricity of Vietnam Group (EVN) became a strategic shareholder of ABBANK with 30% of shareholdings in 2006, ABBANK and An Binh Securities (ABS) has successfully issued dong 2000 billion bond for EVN in 2006, EVN bond issued by ABBANK has been selected by Asia Money 1.2007 as the best local currency bond of Asia in 2006.

Currently ABBANK has a network of 53 branches and transactional offices in 20 provinces of Vietnam, serving 5,000 business clients and 50,000 individual customers. More information about ABBANK can be obtained at www.abbank.vn.

About Temenos

Founded in 1993, Temenos Group AG is a provider of integrated modular core banking systems to over 580 financial institutions in 110 countries worldwide. Temenos software provides banks with a single, real-time view of the client across the enterprise, enabling banks to maximise returns while streamlining costs. Whether providing 24/7 functionality to the wholesale, retail and private or universal banking sectors, partnering with central banks on core system replacement, or working with the World Bank on solutions for the emerging markets, Temenos knows banking. The company has a transparent approach to its operations and brings to bear its experience, expertise, commitment and professionalism on every project.

Headquartered in Geneva, Switzerland, the company has 42 offices in 31 countries and is listed on the main segment of the SWX Swiss Exchange (TEMN). www.temenos.com

CONTACT: Max Chuard, Temenos, director Corporate Finance & IR Member of the Executive Board Tel: +41 (0) 22 708 1157 e-mail: mchuard@temenos.com Ben Robinson, Temenos Investor Relations manager Tel: +44 (0)207 290 3012 e-mail: brobinson@temenos.com Peter McKenna, Temenos Marketing director Tel: +44 (0)207 423 3842 e-mail: pmckenna@temenos.com Sole Chirco/Alisha Benson, Team 660 Metia for Temenos Tel: +44 (0)203 100 3718 Tel: +44 (0)203 100 3739 e-mail: sole.chirco@metia.com e-mail: alisha.benson@metia.com

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