Laurentian Bank of Canada Selects Temenos as provider for its New Core Banking Technology

MONTREAL, May 26, 2016 /CNW Telbec/ - Laurentian Bank of Canada (TSX: LB) (LBC) announced today that as part of its plan to rebuild its account management platform it has selected Temenos, a software specialist in the banking and finance area, as its new banking software provider. The implementation will take place first at LBC's B2B Bank and a certain portion of LBC's Business Services, followed by a roll-out to the remainder of LBC's Business and Retail Services.

The Temenos platform will facilitate faster time-to-market for products and services, delivery of a superior customer experience through increased automation and ability to harness the value of the data through analytics.

"Earlier this year, LBC announced its transformation plan which involves the modernization of our core banking platform. This project with Temenos is key to that strategy and our future growth, as it will allow us to scale to meet the needs of our customers." said Deborah Rose, President & Chief Executive Officer, B2B Bank and Executive Vice President, Intermediary Banking and Chief Information Officer, Laurentian Bank of Canada.

Temenos was also chosen for its leadership position in the Canadian market, including a well-established Canadian client base and in-country operations, coupled with Temenos' global reach and support network.

Temenos, together with Deloitte, will be responsible for the implementation of the platform. Deloitte will also provide system integration and governance services based on their long-standing and proven expertise in implementations.

About Laurentian Bank
Laurentian Bank of Canada is a banking institution whose activities extend across Canada. The Bank serves one and a half million clients throughout the country and employs more than 3,700 people whose talent and dedication have made it a major player in numerous market segments. The Bank has more than $40 billion in balance sheet assets and $42 billion in assets under administration.

Laurentian Bank distinguishes itself through the excellence and simplicity of its services. The Bank caters to the needs of retail clients via its branch network. The Bank has also earned a solid reputation among small and medium-sized enterprises and real estate developers thanks to its specialized teams across Canada, namely in Ontario, Québec, Alberta, British Columbia and Nova Scotia. For their part, B2B Bank is a Canadian leader in providing banking and investment products and services to financial advisors and brokers, while the expertise and effectiveness of Laurentian Bank Securities' integrated brokerage services are known nationwide.

 

SOURCE Laurentian Bank of Canada

For further information: Louise Bergeron, Vice-President, Executive Office, Office: (514) 284-4500, ext. 4840, louise.bergeron@laurentianbank.ca


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