LONDON, UK, August 30, 2022 — DXC Technology (NYSE: DXC), a leading Fortune 500 global technology services company, has partnered with solutions provider Temenos (SIX: TEMN) to lead the digital transformation of critical IT architecture for FCM Bank, one of Malta’s leading savings providers. and fixed-term products.
Leveraging DXC’s banking and capital markets expertise, and Temenos’ industry-leading software, FCM Bank replaced its legacy core banking system with a modern digital platform to support its growth strategy. The new system went live in June 2022, with DXC supporting the migration of FCM Bank’s applications, offerings and customers from legacy systems to the new Temenos platform.
By moving to the new open and agile platform, FCM Bank will benefit from improved protection against cybersecurity threats, faster time to market for new products and services, and an overall improvement in efficiency. The Temenos platform also provides functionality for transaction processing, payments, financial crime mitigation, and data analytics.
FCM Bank’s new core banking solution was created to anticipate the current and future expansion plans of the bank and its parent company SAB Financial Group. Leverage the open Temenos platform for banking with functionality for retail and corporate accounts, deposits, loans and payments. DXC and Temenos business banking experts worked together to achieve the transformation, utilizing the expertise of Luxoft, a DXC company and one of the leading Temenos system integration practices globally.
“A successful bank must be quick and flexible in addressing the needs of its customers. FCM Bank collaborated with DXC Technology to deliver and implement the Temenos banking platform, which the bank considers to be the best in the industry,” said Marcel Homolka, CEO of FCM Bank Limited. “We are also launching a new Internet banking system that is up-to-date, intuitive and easy to use.”
“DXC has more than 45 years of banking and capital markets experience, managing more than 250 million customer deposit accounts and 275 million cards for the world’s leading banks,” said Andrew Haigh, director of banking and EMEA Capital Markets, DXC Technology. this experience, DXC is proud to partner with FCM Bank in this exciting new chapter of growth.”
“We are delighted to see FCM Bank complete the modernization of its core banking, moving from legacy systems to an open, modern and agile platform. This successful start-up is an important milestone in the bank’s digital transformation. With the Temenos platform, FCM Bank will benefit from a rapid time-to-market of new banking products and services to offer innovative solutions to its customers today and in the future”, added Philip Barnett, President of Strategic Growth at Temenos.
About FCM BANK
Founded in 2010, FCM Bank is one of Malta’s leading corporate lending banks with a loan portfolio of over €200 million financing the development of over 1,000 apartments in Malta. FCM Bank was acquired by the SAB Group in November 2017. The SAB Group has extensive experience in banking and financial services with a fully developed infrastructure and significant resources at its disposal. The SAB Group also has a stake in a Czech credit institution with more than 25 years of experience in corporate financing solutions, real estate financing and retail services.
About DXC technology
DXC Technology (NYSE: DXC) helps global enterprises run their mission-critical systems and operations while modernizing IT, optimizing data architectures, and ensuring security and scalability across public, private, and hybrid clouds. The world’s largest companies and public sector organizations trust DXC to implement services that drive new levels of performance, competitiveness and customer experience in their IT properties. Learn more about how we deliver excellence to our clients and colleagues at DXC.com.
Temenos AG (SIX: TEMN) is the world leader in banking software. More than 3,000 banks worldwide, including 41 of the top 50 banks, trust Temenos to process daily transactions and customer interactions for more than 1.2 billion banking customers. Temenos offers cloud-native, cloud-agnostic and AI-powered front office, core banking, payments and fund management software that enables banks to deliver frictionless, omnichannel customer experiences and achieve operational excellence. For more information, visit www.temenos.com.