Scale at Speed™
Overview
The client, a leading Dutch banking and financial services institution with a strong presence in the food, agribusiness, and rural sectors, faced significant challenges with their heavily customized and outdated Temenos T24 R15 system. They sought to modernize their core banking infrastructure, as the legacy setup limited agility and delayed product launches.More
The client, a leading Dutch banking and financial services institution with a strong presence in the food, agribusiness, and rural sectors, faced significant challenges with their heavily customized and outdated Temenos T24 R15 system. They sought to modernize their core banking infrastructure, as the legacy setup limited agility and delayed product launches. The bank partnered with Tech Mahindra to address these challenges by upgrading to T24 R23, which enabled better system performance, reduced total cost of ownership (TCO), and an enhanced customer experience.
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Client Background & Challenges
Given the scale and complexity of their operations, the client faced:
- Core banking modernization across diverse markets
- Inefficiencies and high TCO from complex customizations
- Limited scalability to innovate and adapt while maintaining continuity
- The need for a secure, future-ready platform to support growth
Our Approach and Solution
The engagement began with a detailed assessment and planning phase and a structured upgrade roadmap. Key initiatives included:
Business and Community Impact
The core banking upgrade led by Tech Mahindra delivered key business outcomes, including:
- Faster COB Processing: Reduced end-of-day processing time by 2 hours
- Seamless Upgrade: Defect-free rollout with zero high-severity issues
- Transaction Continuity: Prevented loss of 0.5 million transactions during reconciliation
- Business Agility: Delivered $1M in change requests and regulatory enhancements on time
- Optimized Testing: Used open-source tools, saving $250K annually
- Future-Ready Infrastructure: Built a scalable, resilient foundation for transformation