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Bangladeshi bank live with Tenemos T24 in just 2 months

April 29, 2013

Temenos, a provider of technology solutions for the financial services industry, has announced that South Bangla Agriculture & Commerce Bank went live today on its core banking software, Temenos T24. The two parties finalized an agreement this February and went from signed contract to live sign-on within just two months. 

"The speed in which we have reached go-live is testament to Temenos' experience and capabilities and vindicate one of the many reasons for which we chose T24 as our software platform," said S. M. Amjad Hossain, chairman of SBAC Bank. "Our aim is to be the leading bank in Bangladesh and, with the support of Temenos, we believe we can achieve this."

SBAC Bank is one of nine new entrants to the Bangladeshi banking market already this year. The FI said in its T24 announcement that it aims to help strengthen ongoing financial inclusion programs designed to bring unbanked citizens into the banking network.

Despite strong economic growth, indicated by a GDP that has more than doubled in the last decade, around 60 percent of Bangladesh remains unbanked. 

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