1. News
May 14, 2024

Banque Internationale à Luxembourg selects Temenos to upgrade core banking and payments

The Temenos platform will enable Banque Internationale à Luxembourg to enhance the agility and efficiency of its retail, corporate and private banking operations

Luxembourg-based private bank Banque Internationale à Luxembourg (BIL) has gone live with Swiss banking software provider Temenos in a move to transform the former’s core banking and payments.

The Temenos platform will enable Banque Internationale à Luxembourg to enhance the agility and efficiency of its retail, corporate and private banking operations.

Besides, the digital transformation provides the private bank with the latest banking capabilities from Temenos on a modern application programming interface (API)-driven platform. 

Banque Internationale à Luxembourg will also be able to introduce new products rapidly and enhance the customer experience with customisation driven by data along with saving costs and driving up performance and productivity.

Temenos international president William Moroney said: “Bringing together multiple business lines on Temenos’ secure, scalable cloud-native platform positions BIL strongly for future growth.”

Established in 1856, Banque Internationale à Luxembourg offers services in retail, private, corporate and institutional banking and treasury and financial market services. It has €44.1bn in assets.

The bank will be able to integrate and automate various capabilities, including cash accounts, deposits, lending, securities and treasury on the new Temenos banking platform.

Banque Internationale à Luxembourg will also manage larger transaction volumes and boost operational efficiency with digitalised processes to reduce costs and improve customer experience.

By leveraging Temenos Payments Hub, the bank has unified all payment rail processing into a single platform, including SEPA, Target2, and cross-border. This streamlines and standardises its payment operations for all customers. 

Temenos’ single code base across core banking and payments supports Banque Internationale à Luxembourg with a higher and sustained level of investment in research and development (R&D). 

Banque Internationale à Luxembourg CEO Jeffrey Dentzer said: “We’re delighted to complete the migration to Temenos’ modern, future-ready core banking platform. This was a major transformation project culminating in big bang go-live across all business lines. 

“On the Temenos platform, we deliver best-in-class products and services for all customers and ensure sustainable growth for many years to come.”