Banque Internationale a Luxembourg (BIL) has selected Temenos to provide the software solutions for a major system transformation project, which will see Temenos’ banking solution suites used across the bank’s full operations in retail banking, private banking and corporate banking.
The project, known as Ignite, will focus on digitalisation and client service innovation across all business lines of the Luxembourg bank.
Under the project, expected to be carried out over the next few years, BIL’s legacy systems and platform components will be replaced with technology from Temenos.
The bank will deploy a combination of Temenos’ Retail, Corporate Banking and Private Wealth Suites comprising the integrated channels, front, middle and core banking components.
The technology vendor said that the architecture of the new system will be based on agile methodology, enabling a more timely and client-oriented approach.
BIL COO Yves Baguet said: "We have selected Temenos as our IT platform partner for the future on the basis of their corporate strength, the breadth and depth of their solutions, and their open, flexible and scalable architecture. And also for their delivery track record and their certified implementation partners network.
"Our IT transformation program, called Ignite, will be implemented to support our business strategy for the future and includes the simplification of our applications landscape and operational processes. The first phase will be about building a modern infrastructure for digitalized processes and client oriented business value based on their experience, as well as creating a solid foundation for the core banking transformation phase to follow."
Set up in 1856, BIL currently operates in the financial centres of Luxembourg, Switzerland, Denmark, the Middle East, and Sweden.