Fortuna Banque to revamp front-to-back office tech with Temenos and Syncordis
Luxembourg-based Fortuna Banque, a retail co-operative bank with nearly a hundred-year history, is modernising its core banking and digital operations.
The project is being carried out by Syncordis, a local system integrator and partner of Temenos.
Mike Felten, director at Fortuna Banque, says the bank was “very impressed by Temenos’ strong functional coverage and reputation in the region”.
The team also liked the partnership model that Temenos offered, i.e. the delivery by Syncordis. This means “country-specific requirements and compliance needs will be addressed”, Felten explains. The Luxembourg Model Bank version of T24 was developed together by Syncordis and Temenos.
“Implementing Temenos will help us to modernise,” he hopes.
Syncordis has recently completed the T24 and Temenos Connect implementation at Rakuten Europe Bank, a Luxembourg-based subsidiary of Japan’s e-commerce and internet company, Rakuten.
It is also working on another Temenos project in the country: at Advanzia Bank (an online bank focused on retail). The bank signed to replace its legacy solution with a Microsoft-based version of T24 in 2015.
In early 2016, Syncordis completed the technology overhaul at DNB Luxembourg, a private banking subsidiary of Norway’s DNB Group. The project was completed in one year and all legacy systems were replaced, including Misys‘ Midas core system. In addition to the Microsoft-based T24 core, DNB Luxembourg also deployed Temenos Connect at the front-end for digital channels, a new document management system from UK-based EFS Technology and a regulatory reporting application from Wolters Kluwer.
Outside its home market, Syncordis has recently assisted Turicum Private Bank in Gibraltar to swap ERI’s Olympic for Temenos’ T24.