Aizkraukles Banka implements Swiss banking system T24

February 17, 2010 / Banking

To ensure maximum compliance of information systems with the bank business requirements, Aizkraukles Banka completely substituted the former core banking system with the new one — T24 (Temenos, Switzerland), within the framework of implementing the bank information systems development plan for 2010.

This is another step in implementing Aizkraukles Banka business strategy that will facilitate improvement of the bank standards for customer service and ensure maintaining them at the highest level.

Alongside implementing the new system, the information management process in Aizkraukles Banka have been significantly improved and facilitated. The new system makes development and launching of new useful products faster and easier.

Implementation of T24 will considerably increase the bank competitiveness in the market. Provider of the T24 system — Swiss company Temenos — is one of the largest vendors in this field worldwide. The company develops new software versions on a regular basis, incorporating innovations demanded by banks. Besides keeping in touch with what their customers wish, Temenos also invests in market researches in order to timely notice new trends in the global financial industry.

Aizkraukles Banka Member of the Board and Chief Information Officer Rolands Citajevs noted: “This project is a part of the bank comprehensive information systems reorganization plan that is being successfully implemented. The new system will be a powerful and modern tool for the bank management and employees to maintain high quality standards in customer service.”

JSC “Aizkraukles banka” is 100% owned by Latvian shareholders. The bank’s majority shareholders are Oleg Fil — 47.04% shares, Ernest Bernis and Nika Berne — 47.04% shares. The Aizkraukles Banka aim is to become the leading independent private bank in the Eastern Europe, combining all banking services, including asset management and advisory services, in a single customer-tailored offer. Aizkraukles Banka Group includes IPAS AB.LV Asset Management, IBAS AB.LV Capital Markets and other companies.

Additional information:
Ilmars Jargans
Aizkraukles Banka
+ 371 6777 5296