RBTT RAMPS UP TECH PLATFORM

WITH OVER 400 banks in 120 nations using its software to improve the efficiency of their financial operations, CEO Andreas Andreades of Swiss-based company, Tenemos is convinced its technology will give RBTT the edge to stay ahead of the competition.

In an interview following the launch of the three-year, US$50 million Project Recast between RBTT and Tenemos at RBTT’s Park Street offices in Port-of-Spain last week, Andreades said the Geneva-based Tenemos started its operations in 1984 and today has become "the leading banking software company" in the world with several banks using its products.

He said the Caribbean has proven to be a very lucrative area for Tenemos to do business and one of its major success stories in the Caribbean to date has been the provision of technology solutions to the Eastern Caribbean Central Bank.

Andreades said the opportunity for Tenemos to work with RBTT was "very exciting" because RBTT has a significant presence in several parts of the region and is at the forefront of technology and customer service.

This, he explained, augurs well for RBTT’s future because "technology today is critical in supporting banks to achieve their objectives." More than that, Andreades firmly believes that through its Tenemos partnership, RBTT will be able to gain the tools it needs to position the group "ahead of the competition."

RBTT Group CEO Jerome Sooklal said RBTT was very enthusiastic about the potential benefits which its partnership with Tenemos would have both for the Group and its customers.

Noting that the RBTT Group has expanded at an exceptional rate over the last 20 years, both organically and through regional acquisitions, Sooklal said it was clear to the Group that the operations of the 81 branches it has 12 regional jurisdictions must be "fully integrated."

"From the outset it was clear that an undertaking with such a wide scope would require a technology platform capable of meeting RBTT’s current and future requirements," he stated.

Sooklal said through Project Recast, Tenemos will assist RBTT in providing and developing the technology to operate RBTT’s new core banking platform.

At the heart of this platform will be Tenemos’ T24 solution which Sooklal described as "a state-of-the-art, real-time banking application that enables banks to serve clients in a seamless and personalised fashion."

He said the new system that will be developed under Project Recast will be capable of interfacing with existing and proposed systems, offering a fully integrated system that is efficient and effective through RBTT’s 81-branch regional network.

Sooklal added that when everything — time, money and manpower — is taken into consideration, it was clear to see that Project Recast is "well worth the investment."

RBTT Group operating officer Suresh Sookoo will oversee the implementation of Project Recast which will start in TT and end in the Dutch Caribbean.

Sooklal also said Recast will reinforce additional technological initiatives being undertaken by RBTT such as NetBank, an Internet banking platform for corporate customers, and a new mutual fund client interface system.