Temenos and Metavante sign EverBank for global trading
By John Matthews
Temenos, a provider of banking software, and Metavante, a provider of banking and payments technology, have announced that EverBank Financial has selected Temonos T24 to support its world markets division.
According to Temenos, the deal represents the first T24 opportunity resulting from the extended Metavante/Temenos strategic marketing alliance announced in July 2008.
EverBank is a current Metavante core processing client for its US retail banking operations. T24, which will be hosted by Metavante, will be used to support the bank's world markets global trading (including foreign exchange) and commodities operations, said Temenos.
EverBank world markets is a division within the bank that offers global investment solutions including foreign currency CDs, money market accounts, precious metals and structured product accounts to a multi-channel customer base. T24 will provide the bank with a scalable system that can support the division's growth and expansion into future business lines.
The company selected T24 Model Bank, which includes pre-configured products and processes based on international banking practices to reduce implementation time, costs, minimise customisation and lower project risk. T24 will replace several in-house systems and support the continued development and delivery of multi-currency and metals-based products and services.
Andreas Andreades, CEO of Temenos, said: "As the first contract under our joint T24 marketing agreement with Metavante, this is an exciting development because it is an international banking software. This deal also demonstrates that there is a large market in the US to support complex and multi-currency offerings."