Temenos, the global provider of banking software, today announced the availability of TEMENOS T24 (T24) on the Windows Azure platform. This announcement makes T24 the first core banking system to go into production with customers on Windows Azure. The combination of T24 and the Windows Azure platform, including SQL Azure, allows banks to move operations to a consumption based pricing model and enables them to scale resources effectively and increase volume according to customer demand.
As part of this launch, Temenos has embarked on its first cloud migration to move a network of 12 Mexican financial institutions from a traditional hosted environment onto the Windows Azure platform. Five of these - Sofol Tepeyac, Grupo Agrifin, Findeca, Soficam and C.Capital Global - are in the first phase of migration, which is currently underway and is expected to be completed by Q2 2011.
To learn more about this announcement, you can read the press release here.