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T.E. Raja Simhan

Chennai, May 11 Temenos, the Geneva-based provider of integrated core banking systems, has signed a global strategic partnership with Cognizant Technology Solutions, to enhance its service and delivery capabilities for Temenos (T24), a core banking software of Temenos.

As part of the agreement, Cognizant will invest in training certain of its associates to deliver T24 implementations over a three-year period. It will also work together with Temenos to establish a global Centre of Excellence.

The US-based software company with development centres in India is already engaged on a number of Temenos T24 implementations and will also work with Temenos’ Complementary Solutions Partners to provide solutions to banks where required, according to information available in Temenos’ Web site. No further detail was available on the investment.

Cognizant’s consultants will be fully trained in implementing T24 Model Bank, which is put into operation in over 600 financial institutions globally. They will apply the Temenos Implementation Methodology to all projects and will be able to avail themselves of Temenos Application Management services for localisations and bespoke requirements.

“This partnership marks a significant change in our approach to working with global systems integrators to deliver T24,” said Mr Andreas Andreades, CEO, Temenos. “As we continue to experience growth in our licence sales, despite the difficult economic environment, and traction within the Tier-I banks for packaged core banking software, we need to be able to ramp-up our services capability faster than we have been able to do until now”.

“We are making significant investments in our relationship with Temenos and believe this partnership will add to the breadth and depth of our capabilities in the banking and financial services technology and operations, and our proven, domain-led delivery experience, further offering cost-effective solutions and a compelling proposition to our joint customers,” said Mr Rajeev Mehta, Chief Operating Officer, Cognizant.

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