To ensure that banks continue to get maximum value from their T24 implementations, Temenos regularly releases upgrades and new versions that offer new modules as well as enhanced features, spending 20% of their revenue on research and development. However, banks are wary of changing their existing implementation and understandably so, because it could mean additional costs, reallocation of resources (both skills and technology) and possible business disruption. So should banks continue to work with their existing versions and play safe, or should they maximize that part of their IT budget which deals with new functionalities and take advantage of the latest enhancements delivered with each release?

In this paper we look at the new features that Temenos introduces, and the challenges that could come with an upgrade. We will also discuss T24 Transact upgrade best practices and a detailed upgrade methodology that will help banks protect their T24 investment without incurring high costs or disruptions.