NEWS
Bank of Queensland goes live on Temenos Banking Cloud to a single platform for retail and business banking . As part of the project , BOQ Group will migrate all of its banking operations across three banking brands – leading regional bank BOQ and challenger banks Virgin Money and ME Bank . BOQ Group is progressively rolling out the Temenos Banking Cloud across the entirety of the retail banking business lines , with business banking and lending to follow .
Temenos has announced that Bank of Queensland ( BOQ ) has gone live with retail banking services on Temenos Banking Cloud for customers served under the BOQ and Virgin Money brands .
Work has commenced on the migration of BOQ ’ s ME brand to Temenos Banking Cloud . Using Temenos cloud-based platform enables BOQ to offer superior customer propositions with personalized offerings at a fraction of the cost of its legacy systems , building a competitive advantage and a low cost-income ratio . Since going live , BOQ has completed over four million transactions on the new platform .
The modernization project with Temenos simplifies BOQ ’ s technology landscape by consolidating several legacy systems
Temenos provides the world ’ s leading open platform for composable banking , allowing banks and financial institutions to easily assemble , test and extend broad banking capabilities . Temenos Banking Cloud brings the unmatched breadth of Temenos ’ frontto-back banking services . The combination of agility , scalability and extensibility will help BOQ Group to create unique digital offerings , innovate faster and address changing customer expectations .
UiPath empowers Sumitomo Mitsui Trust Bank to improve operational efficiency
UiPath , a leading enterprise automation software company , has announced that Sumitomo Mitsui Trust Bank Limited has deployed the UiPath Platform , resulting in savings of more than 400,000 total hours in labor-intensive tasks .
Over four years , the UiPath end-to-end automation platform has enabled the bank to successfully automate more than 250 critical business operations .
As the largest trust bank in Japan , Sumitomo Mitsui Trust Bank manages the property and investment assets of a wide base of individual and corporate clients . Given its diverse and complex business scope , the bank saw the potential in using Robotic Process Automation ( RPA ) technology to improve the efficiency of its high-mix low-volume operations . In 2018 , the bank embarked on a journey with UiPath to streamline and automate time-intensive tasks , improve risk management and enhance customer experiences .
Empowered by the UiPath platform , the bank has successfully leveraged enterprise automation across multiple workflows and business operations to support the rapidly changing and unique demands of its customers . Together , UiPath and Sumitomo Mitsui Trust Bank have enabled :
• Automation of over 250 business operations and 500 workflows with UiPath Orchestrator
• Sustainable scaling of automation with UiPath Test Suite
• Improved business process standardization and enhanced risk management
• Swift collection of survey results
Sumitomo Mitsui Trust Bank plans to further leverage the power of automation for targeted distribution of marketing materials and proposals to customers .
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