Under the terms of the deal, the Bank of Georgia is set to deploy the Temenos T24 (T24) banking platform to consolidate its operations. The agreement is in line with the Bank’s objective of increasing technological enhancements to enhance operational efficiency and customer service. Additionally, the system will enable the bank to centralise its IT operations across Georgia, Belarus and Ukraine.
The bank opted for T24 Model Bank for Universal Banking in order to integrate its operations on a single platform and to address all requirements across its three business domain areas from one central point. As an integrated system, T24 will enable the bank to simplify its infrastructure and lower maintenance costs.
With T24, BOG aims to enhance its treasury, corporate and retail banking and wealth management business divisions by automating a range of processes, including Nostro reconciliation and treasury operations confirmation, while eliminating data entry for the bank’s wealth management CRM system.
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