By David Bicknell
The Swiss banking software supplier Temenos has responded to overnight coverage of the end of an IT project with the Queensland Treasury Corporation in Australia.
Queensland Treasury Corporation said it had changed tack on the T24 project after experiencing problems developing a core banking system.
Temenos said today, “Temenos can confirm that the T24 project at Queensland Treasury Corporation (QTC) has been terminated. This decision was taken by QTC based on a change of requirements, which had become more specific; as a result it wanted an approach that was more in line with these unique requirements.
“It has therefore decided to run its IT upgrade in house. Temenos is pleased to have had the opportunity to assist QTC with their IT renewal project, and has enjoyed a constructive and mutually amicable relationship with the organisation.”
QTC, which manages public sector debt and investments, told the Brisbane Times it was now developing its own system and insisted it would be able to do so within the existing $27 million project budget. The organisation defended its handling of the IT contract, saying it has now acquired additional in-house capabilities.
The story had been extensively covered in the Australian IT and banking press earlier today.