Temenos has announced that the Malta-based trade finance bank, IIG Bank, has gone live with its digital front office and core banking products, Infinity and T24 Transact respectively.

The banking software developer based in Geneva, Switzerland, says the solution will enhance letter of credit (L/C) processing.

Additional functionality

As well as allowing the bank to expand its L/C offerings, the products will allow IIG to enhance other services, including treasury cash management, deposit accounts, customised lending and several trade finance functionalities according to Temenos.

It also says the implementation is expected to enhance customer service quality and help achieve operational efficiencies.

Customer experience

Temenos claims the products should allow for more efficient decision making, streamline data recovery and enable better communications between the bank, its customers and the regulator.

Managing director and CEO at IIG Bank, Raymond Busuttil, says Temenos was selected "to future-proof our operations, enabling us to deliver a great customer experience going forward."

Business growth

Managing director for Europe at Temenos, Steen Jensen, says that with the new products IIG Bank will be able to "reach a wider client base, develop new products and bring them to market quickly, to grow its business."

"IIG Bank is now able to make technology a selling point for its bank and services, rather than a mere back-office platform," Jensen claims.

This article represents the views of the author and not necessarily those of the ICC or Coastline Solutions.