Published on 19 Dec 2012

"The biggest piece of this is minimizing reputational risk. A bank might lose a significant part of its business if it fails to meet watch-list compliance. So the question is not to save money, but to cover a known risk." - Vincent Dupuis, Manager of Technology, Temenos Belgium

Customer:
Temenos Group AG

Industry:
Banking, Computer Services

Solution:
Information Lifecycle Governance (ILG), Smarter Planet

Smarter Planet:
Smarter Banking

IBM Business partner:
Temenos

Overview

Since 1993, Geneva-based Temenos Group AG has provided banking software systems to community banks, wealth managers and retail, corporate, universal and private financial institutions. With 55 offices around the world, Temenos has over 1,500 customer deployments in more than 125 countries.

Business need:
To help safeguard client accounts and reduce reputational risk associated with suspicious banking activity, global banks require transaction monitoring solutions to comply with regulations to track initiators and recipients of questionable transactions.

Solution:
By scanning over 10 million payment transactions a day, the Temenos Group AG is helping its banking clients screen business credit risk, high-value payments and questionable behavior without slowing down their business. Profiling highlights patterns of behavior that may be signs of fraud, allowing banks to take appropriate measures to minimize their financial exposure and avoid multimillion-dollar government fines. One bank in China is deploying the solution to automatically translate Chinese characters into English spellings before checking those names against international watch lists.

Benefits:
Saved up to USD37,000 per day for the typical bank receiving more than 100,000 payment transactions; Helped banks avoid fines of up to USD100 million by meeting regulatory compliance requirements; Saved countless hours by automating transaction screening and enabling near-instant, real-time results

Case Study

Since 1993, Geneva-based Temenos Group AG has provided banking software systems to community banks, wealth managers and retail, corporate, universal and private financial institutions. With 55 offices around the world, Temenos has over 1,500 customer deployments in more than 125 countries.

The Opportunity
To help safeguard client accounts and reduce reputational risk associated with suspicious banking activity, global banks require transaction monitoring solutions to comply with regulations to track initiators and recipients of questionable transactions.

What Makes It Smarter
By scanning over 10 million payment transactions a day, the Temenos Group AG—an IBM Business Partner—is helping its banking clients to screen business credit risk, high-value payments and questionable behavior, all without slowing down their business. Profiling highlights patterns of behavior that may be signs of fraud, thereby allowing banks to take appropriate measures to minimize their financial exposure and avoid multimillion-dollar government fines. One bank in China is deploying the solution to automatically translate Chinese characters into English spellings before checking those names against international watch lists.

Real Business Results

  • Saved up to USD37,000 per day for the typical bank receiving more than 100,000 payment transactions
  • Helped banks avoid fines of up to USD100 million by meeting regulatory compliance requirements
  • Saved countless hours by automating transaction screening and enabling near-instant, real-time results

For more information
Please contact your IBM sales representative or IBM Business Partner. Visit us at: ibm.com/smarter

To learn more about Temenos Group AG visit: www.temenos.com

Components

IBM products and services that were used in this case study.

Software:
WebSphere MQ, WebSphere Application Server, InfoSphere Global Name Recognition, DB2 for Linux, UNIX and Windows

Legal Information

© Copyright IBM Corporation 2012 IBM Corporation Software Group Route 100 Somers, NY 10589 Produced in the United States December 2012 IBM, the IBM logo, ibm.com, DB2, InfoSphere and WebSphere are trademarks of International Business Machines Corp., registered in many jurisdictions worldwide. Other product and service names might be trademarks of IBM or other companies. A current list of IBM trademarks is available on the web at “Copyright and trademark information” at ibm.com/legal/copytrade.shtml This document is current as of the initial date of publication and may be changed by IBM at any time. Not all offerings are available in every country in which IBM operates. The performance data and client examples cited are presented for illustrative purposes only. Actual performance results may vary depending on specific configurations and operating conditions. THE INFORMATION IN THIS DOCUMENT IS PROVIDED “AS IS” WITHOUT ANY WARRANTY, EXPRESS OR IMPLIED, INCLUDING WITHOUT ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND ANY WARRANTY OR CONDITION OF NON-INFRINGEMENT. IBM products are warranted according to the terms and conditions of the agreements under which they are provided. The client is responsible for ensuring compliance with laws and regulations applicable to it. IBM does not provide legal advice or represent or warrant that its services or products will ensure that the client is in compliance with any law or regulation.