More problem projects at Temenos

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More problem projects at Temenos

14 January 2013

Two financial institutions, one in Kuwait and one in France, are believed to have stopped their implementations of Temenos' flagship, T24. Meanwhile, Banque Libano-Francaise (BLF) is yet to cut over to T24 and Oracle components, more than five years after the start of the project.

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Comments

3 #1 NicholasHacking 2013-01-14 16:09

No doubt David Arnott was right in saying the vendor did not intend stopping any further projects. Of course clients can (and sometimes do) have a different view. To be fair to Temenos the projects mentioned seem to have started quite some time ago, and were perhaps run on a non-standard model. We also all know that in stopping a project the vendor is not the only entity whose actions (or inactions) can lead to such an outcome.

It would be more interesting to have a view on how recently signed projects are progressing, so as to get a more "balanced" view of the overall situation - i.e. whether Temenos is at last managing to start correcting its reputation in implementations or not.

#2 Nallapaneni H Rao 2013-01-21 11:22

Mr Jon would have been straight and clear about what he wanted to communicate or what he would like to know from others about T24? If he is believing T24 is not a reliable Banking Software, my comments are as below:

What Mr. Jon is stating may be correct. But we should not forget the number of Banks T24 is being used continuously over decades. There may be varying reasons for problems in these three sites.

However, how come Temenos could withstand, for so long and most of the times as market leader and enjoying number one position, without any stuff in it's CBS?

#3 jonraeside 2013-01-21 12:06

Dear Nallapaneni,
Thank you for your comment. Please let me confirm that this story does NOT infer that Temenos systems are not reliable (if you had a subscription to read this article in full you will see this clearly) - projects fail for various reasons, and we do not imply that T24 is to blame. Temenos is also not the only supplier which experiences problem projects. Furthermore, suppliers are not necessarily to blame in many instances, with issues at other participants, including the banks themselves being part of the reason behind decisions to terminate. Since neither party provided us with a comment to clarify and explain their termination of the projects we only include in the story what we know (again, if you had a subscription to IBS Journal you would have the full story). Should more details arise we will update our readers accordingly.
Many thanks
Jon Raeside,
Marketing Manager, IBS Intelligence

1 #4 cliff.brody 2013-01-21 17:12

I echo what Jon said above - I think he is always balanced in his articles. The reality is a huge percentage of Core Banking System implementations fail or are less than successful across all CBS vendors.

The biggest mistake in my mind that all vendors and banks alike make is inadequate training - first of the implementation team and then of the end users.

Best Regards,

Cliff
Clifford G. Brody
Founder and Chief Executive Officer
Global Bankers Institute

#5 guptanarender 2013-01-22 05:41

Stoppage of implementation of an application may be due to variety of reasons. We can not attribute it to the standards and the quality of the package.

Such incidence raise questions and impact potential clients. It is only fare that the vendor explain the reasons to them directly. We should not expect them to clarify these publically.

#6 Robert Cooper 2013-01-22 16:01

Interesting story. I can't comment on the French and Kuwaiti projects, but I spent a year at BLF and I can assure you that our Temenos project team was working diligently to deliver. When I left (this would be about 4 years ago)BLF were actually satisfied and ready to convert but the LFF subsidiary (investment banking/trading) were digging their heels in. There were a whole range of issues to be resolved on both sides of the story - and it seems as though they are still unresolved. I could go on at length but not in a public forum....

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