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Maximize ROI of Your CBS: A Guide to Effective Temenos Training

Author: George Githaiga, Software Specialist at SG NewTech

Many financial institutions struggle with deriving maximum utilization of their Core Banking System (CBS). Functional users need to use the CBS in a manner that supports their standard operating procedures while leaving room for innovation and creativity. However, technical users need to be sufficiently skilled to enable them to support, administrate, and customize the CBS to fit their needs. Training unlocks the utility blocks, promoting ease in use of the system in a manner that serves the full interest of the bank at large – offering stellar services to the customers. Consequently, this translates to higher return on investment for the CBS with reduced operational risk.

Nine out of ten companies do not provide adequate training for their staff.

Why Banks Need Regular Training

Regular training ensures users have better utilization of the Temenos (T24) Core Banking System (CBS) while reducing operational risk and enhancing the user experience.

Our research shows that clients that take up training have a positive impact on system utilization of the CBS arising from:

Reduced revenue leakage

through proper charging configurations

Faster time-to-market

for new products setup

Minimal posting errors

Adoption of do-it-right-the-first-time for inputters

User confidence

on CBS usage is boosted

Higher ROI

Increased return on investment made on the CBS

Improved reporting

creates visibility on business performance & informs better management decisions

Why Banks Need Regular Training

Regular training ensures users have better utilization of the Temenos (T24) Core Banking System (CBS) while reducing operational risk and enhancing the user experience.

Our research shows that clients that take up training have a positive impact on system utilization of the CBS arising from:

Reduced revenue leakage

through proper charging configurations

Faster time-to-market

for new products setup

Minimal posting errors

Adoption of do-it-right-the-first-time for inputters

User confidence

on CBS usage is boosted

Higher ROI

Increased return-on-investment made on the CBS

Improved reporting

creates visibility on business performance & informs better management decisions

Learn more about Temenos (T24) Training.

3 Key Categories of Core Banking System Training

Effective Temenos (T24) training covers both technical and functional aspects of the CBS for 3 main user levels: Induction, Intermediary, and Specialist.

1. Induction Training

Induction training is recommended for new joiners, especially those that have not previously used Temenos (T24) CBS. It lays the foundation for the requisite skills needed to navigate the system and use the respective applications for their job. New joiners have an easier transition to the organizational operations as they gain a better understanding of the functional capacity of the system.

The training is conducted at the start of employment at the bank and includes multiple practical workshops that reinforce the theory undertaken during the classroom component. The participants get to interact with the CBS and module of interest over multiple sessions in a span of about two weeks. At the end of the program, the users are ready to embark on their banking journey in various roles without the hurdles of learning how to navigate the CBS on the job.

2. Intermediary Training

Intermediary training enables existing users to refresh their understanding of the CBS, enhance the utilization of its features, and embrace best practices. These trainings are most effective when undertaken on a yearly basis and are critical for users that have taken up new roles that require them to upskill on modules that they may have not used before.

These users also receive hands-on practice from workshops, and gain insight on best practices that empower them to use even more system functionalities and capabilities in a manner that translates to better customer experience.

3. Specialist Training

Specialist training is best for users that need a deeper understanding of the technical aspect of the various modules and system functionalities. This mainly targets the IT teams that support the CBS, enabling them to run Close of Business (COB) processes and customize the system to expand on the core functionality in a way that best suits the bank’s needs. We recommend this to be conducted annually to act as a refresher or to onboard technical users that are new to various IT roles around the CBS. 

The specialist training is aimed at equipping technical teams with CBS understanding from the infrastructure and architectural perspective before narrowing down to the requisite skillset for the various IT teams. Developers are upskilled on best practices on coding, new technologies and new ways of customizing T24 in line with the Temenos recommendations. The COB support team is enlightened on the essentials of the COB process, the do’s and don’ts, best practices and troubleshooting skills. The Temenos (T24) administrators and support team also get to understand the new features and functionalities, upcoming changes, and promotion of the back-to-core agenda.

Effective Temenos (T24) training covers both technical and functional aspects of the CBS.

At SG NewTech, we offer training on various Temenos (T24) modules and applications. Our engagements with clients on Business-as-Usual (BAU) support enables us to provide effective and targeted training through customized sessions that address the issues noted from historical tickets, and collect feedback on areas of interest from the participants. Our workshops are also customized to the client environment so they are highly relatable to the trainees. Discussions are held before, during and after the training so that the participants have all queries addressed, while post-training reviews are done against the tickets logged from the functional and technical teams to ensure that the knowledge transfer was effective.

Learn more about Temenos (T24) Training.

To Wrap It Up

  • Banks can improve customer satisfaction by ensuring their CBS users are regularly developing their skills through practical and targeted training.
  • The Key Categories of Core Banking System Training include
    • Induction Training
    • Intermediary Training
    • Specialist Training
  • New users will learn the fundamentals of navigating the system through Induction Training, while existing users will enhance their knowledge of the system’s functionalities and gain a deeper understanding of the technical aspects of various modules through Intermediary and Specialist Training.
  • It is essential that financial institutions empower their staff with the training they need to fully utilize their system’s capabilities, maximize the ROI of their CBS, and support their organizational goals.

At SG NewTech, being part of Software Group, we have worked with banks and microfinance institutions across the globe as advisors, consultants and co-innovators. We offer Temenos (T24) training through our Temenos Center of Excellence (TCoE) the one-stop shop core banking transformation service. Our training programs can be complemented by a subscription to Temenos Learning Center (TLC) for additional skills acquisition.

Contact us if you are interested in learning more about our offerings.

ABOUT THE AUTHOR

George Githaiga
Software Specialist, SG NewTech

George is the Lead for the BAU Support team and is part of the Temenos Center of Excellence at SG NewTech. He has 14 years of experience as a techno-functional expert on Temenos Transact with exposure in running core banking operations for multiple financial institutions in Africa. LinkedIn

 

 

 

 

 

ABOUT THE AUTHOR

George Githaiga
Software Specialist, SG NewTech

George is the Lead for the BAU Support team and is part of the Temenos Center of Excellence at SG NewTech. He has 14 years of experience as a techno-functional expert on Temenos Transact with exposure in running core banking operations for multiple financial institutions in Africa. LinkedIn

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