With this transition, BIL now has access to Temenos' most recent banking features on a cutting-edge, API-driven platform. BIL will be able to save expenses, increase performance and productivity, and quickly launch new goods. Data-driven customisation will also enhance the consumer experience.

The European Central Bank has classified BIL, which was established in 1856 and is the oldest universal bank in Luxembourg, as systemically important. BIL is a major player in retail, private, corporate, and institutional banking as well as treasury and financial market services, with assets of EUR44.1 billion.

The transition to the new Temenos platform, which replaced the organization's 30-year-old traditional core banking system, was successfully finished in just one weekend after a challenging transformation effort. This was the outcome of tight collaboration between BIL, LTIMindtree, Temenos' delivery partner, and a committed multidisciplinary Temenos team.

BIL can integrate and automate several functions on the new Temenos Banking Platform, such as cash accounts, deposits, lending, securities, and treasury. With digitalized operations, the bank can also handle higher transaction volumes, deliver goods more quickly, and boost operational efficiency—all of which will lower costs and improve customer satisfaction.

In addition, BIL serves as a central payment hub for other financial institutions, handling up to 200,000 intricate, multi-currency transactions each day. To streamline and unify its payments operations for all clients, the bank combined all payment rail processing—including SEPA, Target2, and cross-border processing—onto a single platform using Temenos Payments Hub. Operating on the same key technological platform and seamlessly integrating with essential banking procedures allows the environment to scale tremendously, supporting peak performance windows for all payment kinds and schemes.

Temenos' unified code base for payments and core banking will enable BIL to invest more and more in research and development. Moreover, faster and less expensive updating and maintenance are made possible by the single Temenos platform, resulting in a lower total cost of ownership.

The CEO of Banque Internationale à Luxembourg, Jeffrey Dentzer, stated: "We're happy to have finished the transition to Temenos' cutting-edge core banking technology. The culmination of this significant transformation effort was a big bang go-live for all business lines. We provide all clients with the greatest goods and services available on the Temenos platform, guaranteeing long-term, sustainable growth.

"I'd like to congratulate the teams from Banque Internationale à Luxembourg, LTIMindtree, and Temenos on a successful implementation of this large, complex transformation," stated William Moroney, President - International, Temenos. Combining several business divisions on Temenos' scalable, secure cloud-native platform puts BIL in a great position for future expansion.