ME Bank in Melbourne, Australia, will use software from Temenos to support its growth over the next three years.
ME Bank will use T24 for its core banking system and Temenos AML for its anti-money laundering program, Temenos said Monday. The bank also will use Temenos Insight for business analytics.
The changes are part of a wider strategic IT transformation at the bank that will be implemented in four phrases and should be completed by June 2015.
"Supreme ease-of-use and efficient performance are key goals as we implement the multi-million dollar transformation of our technology platform. The new system will reduce operating costs, improve customer experience and speed up the delivery of new products," Kathryn Hawkins, chief information officer for ME Bank, said in a news release. "Our customers will enjoy an improved and faster interaction with ME Bank. There will be more self-service options, better stability and ultimately more products as we'll have the capability to deliver these even faster."
ME Bank has no branches and instead sends bankers to conduct banking services onsite at customers' workplaces.
Temenos, headquartered in Geneva, provides banking software systems. Renaissance Credit, a microfinance institution in Nigeria, recently launched a cloud-hosted core banking system from Temenos.