IIG Bank Malta live with Temenos T24 core and digital platform
Specialist international commodities and trade finance bank, IIG Bank (Malta), has gone live with Temenos’ T24 Transact core system and Infinity digital front office, reports Martin Whybrow.
IIG Bank was set up in 2010 and is a specialist corporate institution that provides savings products, trade loans and documentary credit facilities. The new systems are intended to enhance its treasury cash management and deposit accounts, facilitate tailored lending to clients, and support the bank’s documentary credit and trade finance activities.
It is understood the new software will replace the e-IBS core banking system from Datapro.
The bank aims to grow and expand its product offering, and bring products to market quickly, within what it expects will become an ever more competitive market in Malta. The country’s Prime Minister has called for an increase in the number of banks and banking opportunities available to customers.
IIG Bank’s CEO and MD, Raymond Busuttil, says: “We are very pleased with the speed of the Temenos implementation. We are already seeing significant improvement which will enable further growth for IIG Bank. Corporate customers are demanding more from their banking experience and expect a seamless customer journey.”
As well as T24 Transact and Infinity, the bank took Temenos’ financial crime mitigation module, which is integrated within the core system.