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IPDC implements 'Temenos T24 Core Banking Software'

FE Report | October 30, 2019 00:00:00

IPDC Finance Limited, a leading non-banking financial institution (NBFI), has implemented 'Temenos T24 Core Banking Software' as part of its organisational transformation and business automation process, said its officials.

IPDC became the first NBFI in the country to implement such innovative banking software to keep up with the rapid technological changes in the financial sector around the world.

The announcement came at a press conference organised by IPDC at a city hotel on Tuesday.

Fortress Data Services (FDS) Bangladesh Limited, a Bangladesh-Indonesia joint venture, has installed the R18 version of Temenos T24 software in the IPDC system.

Temenos T24 is one of world's leading core banking software developed by Temenos of Switzerland. Several banks in Bangladesh are already using it.

Addressing the programme, Managing Director and CEO of IPDC Mominul Islam said a strong core banking software is a necessary component for business transformation in a financial institution.

"We have taken early initiative to implement a state-of-the-art Temenos T24 software in line with our strategic vision and the move is only the beginning of IPDC's journey towards complete digitisation of service delivery model," he said.

The software will be at the centre of the system for supply chain finance, consumer white goods finance and loan origination system, he added.

Rayhan Uddin Sarker, COO and Director of FDS Bangladesh, said rigorous efforts, professionalism and excellent teamwork between FDS and IPDC made it possible to execute implementation of Temenos T24 software in only eight months.

Temenos T24 is a core banking system providing product definition, transaction processing, unparalleled operational scalability and functional depth for all types of financial institution, according to Temenos website.

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