Case Study

Bank SinoPac
Building Momentum in a Mixed Market

How Bank SinoPac is harnessing T24s flexibility, scalability and

cost-efficiency to grow sustainably through product innovation in its
competitive domestic market and abroad.

We are placing significant importance on IT to gain a competitive edge. With

TEMENOS T24 we have quickly and efficiently undertaken a core transformation,
establishing a modern core banking platform to support our domestic and
international growth. TEMENOS T24 caters to our existing and future needs.
Tina Chiang - President - Bank SinoPac

Shrinking the Total Cost of Ownership:

50% reduction

in hardware and software

maintenance costs
(see page 11)

Supporting cost-efficient business differentiation and fast growth:

Enabling award-

winning product
innovation

(see page 9)

Powering fluid high-volume business:

Harnessing the

massive scalability
of T24 on Microsoft
(see page 10)

Temenos Case Study

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Contents
04 Executive Summary
05 Background
05 - The Taiwanese Banking Market
06 - Bank SinoPac - An Overview
07 Limitations of SinoPacs Legacy System, and the Selection Process
for Replacement
08 TEMENOS T24 and Microsoft The Springboard for SinoPacs
Growth Strategy
09 - A Flexible and Seamlessly Integrated Platform Supporting
Cost-Efficient Innovation and Fast Growth
10 - Powering Fluid High-Volume Business: Proven Massive

Scalability and Resilience
11 - Shrinking the Total Cost of Ownership: 50% Reduction in

Hardware and Software Maintenance Costs
12 Conclusion Will the Dragon Fly?

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Executive Summary
Bank Sinopac was contemplating an unexciting
panorama: a mid-sized player in a highly contested
domestic market, it lacked the scale to muscle out
competitors, and while international expansion
offered greater promise, it was constrained by
resources. Its answer: technological renovation to
deliver a sustainably lower cost base at the same
time as rendering the bank more agile and better
equipped to differentiate its product and customer
offers. The outcome: a 50% drop in software
and hardware expenditure, a platform futureproofed for domestic and international expansion
and the flexibility to continue out-innovating its
competitors. In short, Sinopac is building its own
momentum in a mixed market.
Taiwan is the second most densely banked area in Asia. The domestic
banking sector is intensely competitive and fragmented, and it is
difficult for banks to generate attractive margins by exercising price
differentiation. As a result, the sectors return on assets was only
0.35% between 2007 and 2011, well below the world average.
In reaction to this, many banks in Taiwan have been actively seeking
alternative paths to growth and profitability, such as superior product
innovation and geographical expansion. As shown in this case study,
a prerequisite for deploying such growth strategies in a sustainable
manner is a modern, scalable, flexible and cost-effective core banking
system.

Bank SinoPac, a full-service retail and corporate bank with three

million customers, selected TEMENOS T24 on a Microsoft platform
to help it counteract the growing pressures on its margins by
strengthening its product leadership position, being prepared for the
opening up of banking business with mainland China, and significantly
reducing its cost base.
As we shall see in this case study, TEMENOS T24 on Microsoft had
already delivered these key benefits at the time of go-live in 2012.
The centralized, seamlessly integrated, highly parameterizable and
configurable T24 platform has dramatically sped up innovation and
unleashed SinoPacs first-mover capabilities while reducing the banks
software and hardware maintenance fees by 50% over the solutions
lifecycle. Furthermore, the proven massive scalability of the platform
will support virtually unlimited growth of customer and transaction
volumes as SinoPac ramps up its large retail operations USD 12
billion in consumer loans as of the end of 2011 - and pursues its
expansion abroad.
The challenge now is for SinoPac to leverage the value created by
TEMENOS T24 in the face of the reshaping economy, turbulent global
financial sector and fast evolving customer preferences in Greater
China. But, in any case, the early benefits for SinoPac of having
TEMENOS T24 on the Microsoft platform indisputably bode well for
the banks future. As Tina Chiang, President of SinoPac, summarizes:
TEMENOS T24 caters to our existing and future needs.

Temenos Case Study

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Background
The Taiwanese Banking Market

he Taiwanese banking sector is intensely competitive and

fragmented. As a result, it is very challenging for banks to
generate attractive margins by exercising price differentiation
and charging appropriate risk premiums in the lending business.
With 20 commercial bank branches per 100,000 adults1 , Taiwan is
the second most densely banked area in Asia after Hong Kong. 38
domestic commercial banks service the country via 3,400 branches2,
to which must be added another 1,200 branches belonging to 28
foreign banks and the Postal Savings System. Although the number
of domestic banks has fallen from about 60 to 38 in recent years,
the pace of consolidation has now slowed3; the five largest banks in
Taiwan control only 40% of the countrys assets, compared with 72%
in mainland China4, while 20 banks each account for less than 1.5% of
Taiwanese banking assets5.
The strong influence of government owned banks, which control
in aggregate over 50% of the banking deposits and loans markets
in Taiwan6, creates distortions mostly downwards pressure in
the pricing of certain key banking products. Any relief from this
pressure is unlikely to occur soon as there are no clear plans for
further privatization in the near future. Another source of pressure on
returns is the relatively conservative nature of bankers compensation
schemes, which encourages banks to limit the use of high-risk, highpotential-return securitization, off-balance-sheet tools and risky
lending7, and to prefer lower-return core business.

Banks in Taiwan also rely on the strengths of the domestic financial

sector to expand internationally, including to mainland China. The
low non-performing loan ratio, and relatively high levels of liquidity
and capital adequacy in Taiwan have given banks the confidence that
they can absorb any further global economic or financial shocks. Also,
the sectors average loan-to-deposit ratio is healthy thanks to the
strong preference of Taiwanese nationals for savings deposits: 57%
of household financial assets are in deposit form12. Finally, Taiwan
has a record of stable economic growth supported by a dynamic and
entrepreneurial private sector13.
The big opportunity for Taiwanese banks lies just across the Straits,
in mainland China. Cross-straits banking business has been ramping
up slowly but surely since the signing in 2010 of the Economic Cooperation Framework Agreement (ECFA). So far, one Taiwan bank has
been authorized to undertake Renminbi business in mainland China,
and 6 others have already applied through their mainland branches14.
In fact, a large proportion of corporate borrowings in Taiwan is already
made of loans to drive expansion in mainland China15.

It is, therefore, not surprising that Taiwanese banks usually generate

very low returns. The sectors return on assets was a lowly 0.35%
between 2007 and 20118, well below the world average, and its
aggregate net interest margin is the worlds second lowest9. Without
further consolidation, or a change in business models (stronger risk
appetite), or an increase in interest rates10, margins and returns are
likely to stay under pressure in the foreseeable future.
In reaction to this, many banks in Taiwan have been actively seeking
alternative paths to growth and profitability, be it through expanding
abroad, creating new product lines, achieving a higher level of
segmentation and customization, increasing fee-based income, or
lifting customer service to the next level11. And, as we will see in this
case study, a prerequisite to deploying these strategies effectively is
to have a modern, scalable, flexible and cost-effective core banking
system.

Sources

Sources

1 Financial Access 2010 The State of Financial Inclusion Through the Crisis, World Bank and CGAP,
2010.
2 Financial Institutions Directory, Banking Bureau, Financial Supervisory Commission of Taiwan.
3 Too many banks, too little profit in Taiwan, The Banker (FT), 3 October 2011.
4 Concentration, risk, and Bank Performance: Evidence from Emerging Economies, Baozhi Qu et al.,
June 2012.
5 Banking Industry Country Risk Assessment: Taiwan, S&P, 21 March 2012.
6 Banking Industry Country Risk Assessment: Taiwan, S&P, 21 March 2012.
7 Banking Industry Country Risk Assessment: Taiwan, S&P, 21 March 2012.
8 Banking Industry Country Risk Assessment: Taiwan, S&P, 21 March 2012.
9 Too many banks, too little profit in Taiwan, The Banker (FT), 3 October 2011.
10 In September 2012, Taiwans central bank retained its benchmark interest rate unchanged for the
5th consecutive quarter, citing risks to growth from weakening external demand. Source: RTT News,
20.09.2012.
11 Too many banks, too little profit in Taiwan, The Banker (FT), 3 October 2011.

12 Too many banks, too little profit in Taiwan, The Banker (FT), 3 October 2011.
13 Banking Industry Country Risk Assessment: Taiwan, S&P, 21 March 2012.
14 Chinese banks take advantage of ECFA to move into Taiwan, Kapronasia website, 19 June 2012;
Competition in Taiwan from mainland Chinese banks is still limited as they are only allowed to accept
deposits above USD 100k and can only provide corporate loans .
15 Banking Industry Country Risk Assessment: Taiwan, S&P, 21 March 2012.

Temenos Case Study

6

Bank SinoPac - An Overview

Observing the contrast between the challenging
domestic banking environment and the more
attractive cross-straits and regional markets, Bank
SinoPac (SinoPac) decided to turn to Temenos and
Microsoft in an effort to differentiate itself more
clearly and enter new growth areas while managing
its cost base.

inoPac, a wholly owned subsidiary of SinoPac Financial Holdings

Company, is a full-service commercial bank active in the
retail and corporate sectors. It currently boasts three million
customers and ranks in the top third of domestic banks in terms of
total asset size.
SinoPac currently operates through 129 branches covering all of
Taiwan. In addition, the bank has an offshore banking unit, four
overseas branches in Los Angeles, Hong Kong, Macao, and Kowloon,
two liaison offices in Vietnam and in Nanjing (mainland China), and
one subsidiary in California. The California subsidiary maintains 9
branches in the U.S., one full service branch in Vietnam and one
liaison office in Beijing.
A winner of numerous awards for product and service innovation
over the years16, Bank SinoPac has established itself as a clear
market leader in product innovation within the Taiwanese banking
community, using its expertise in e-commerce and cross-border
banking services to launch innovative new products such as Renminbi
cross-straits remittances within 60 minutes.
However, like most of its domestic peers, SinoPac has not been
immune to the enduring pressures on profitability. In fact, in 2011, it
posted a higher cost-to-income ratio and lower return-on-assets and
return-on-equity ratios than the average bank in Taiwan.
In response to the challenging environment and to be well-prepared
for the opening up of cross-straits banking business, in 2011 SinoPac
Holdings launched a five year plan, with the aim of being the most
flexible and convenient financial services provider in the cross-straits
region by integrating its products, channels and operations and
combining its various business operations.
By the end of 2012, SinoPac had already achieved two key steps
towards realizing its strategic objectives. First, it was the first
Taiwanese lender to have gained approval from Beijing to establish a
subsidiary in mainland China, whereas its domestic peers have sought
to first set up branches and own stakes in Chinese lenders. Through
its subsidiary, it plans to offer Renminbi-based products and services
as soon as Taiwan and China agree on a currency settlement regime17.
Second, it had selected and implemented its new TEMENOS T24 and
Microsoft platform to support the delivery of its short- and long-term
strategic objectives.

SinoPac

Taiwan
Average

%
Var.

Total Assets (USDm)

40,221 >

33,395

20%

Total Operating Income (USDm)

546 >

518

5%

Cost / Income Ratio %

66.8% >

57.9%

15%

Return on Assets %

0.2% <

0.5%

-61%

Financial Performance, 2011

Return on Equity %

3.6% <

8.7%

-59%

Capital Assets Ratio (BIS) %

13.3% =

13.2%

1%

Non-Performing Loans %

0.47% =

0.45%

4%

Sources

Sources

SinoPac 2011 annual report; The Banker Database (FT) for Taiwan averages.

16 Recent example: Financial Elite Banking Innovation Awards in 2010 and 2011 for MMA Plus, BSP
personal net banking, New financial flow platform across the strait.
17 Renminbi operations are currently limited to corporate customers via offshore banking units, but they
generate already 10 % of the banks revenue. Source: SinoPac gains approval for China plans, Taipei
Times, 24.10.2012.

Temenos Case Study

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Limitations of SinoPacs Legacy System,

and the Selection Process for Replacement
Early in the formulation of its five year plan, SinoPac identified its
legacy core banking platform as a major barrier to achieving its
strategy. The banks 18-year-old Unisys system lacked both the
flexibility and scalability to support on-going business development
and new product innovation. Moreover, the legacy environment was
not at all cost-effective; the bank maintained systems on 6 different
platforms, which required multiple IT teams as well as heavy support
from third-party IT specialists. Also, on a more technical level, both
the technical and business users of the system suffered from frequent
processing and data errors as well as suboptimal system availability.
In contrast, TEMENOS T24 on the Microsoft platform unequivocally
addressed SinoPacs need for a modern, centralised platform for
domestic and overseas business with a flexible, state-of-the-art core
banking system at its heart. Specifically, at the time of TEMENOS
T24s selection in 2009, SinoPac was confident that T24 would
be able to support the launch of the next generation of its Money
Management Account and to enhance its CPA - a cash management
product which supports cross-border funds transfers and financing
needs of its corporate client base.
SinoPac was also impressed by the systems ability to consolidate
information across service channels and business lines to provide a
single customer view, and thus improve the banks risk management
and use of credit lines.
Furthermore, Temenos experience in mainland China (e.g. Bank of
Shanghai), strong track record in fast-growing APAC economies, and
strong regional references using the same TEMENOS T24 on Microsoft
platform configuration gave SinoPac the confidence that Temenos
would be the most reliable partner for its long-term expansion into
attractive emerging markets in Asia and beyond.
Finally, but crucially, SinoPac required a core banking system on
modern, open technology with complete platform independence, in
order to achieve a large reduction in maintenance and operating costs.
Therefore, one of the banks principal criteria was that the new core
banking system run on the Microsoft Windows platform as it provides
the advantages of both open and closed systems.
Therefore, in 2009, Bank SinoPac selected TEMENOS T24 over a
leading Indian software services company to replace its legacy system
and to support its long-term strategy of growth through product
innovation and geographical expansion.

We are placing significant importance

on IT to gain a competitive edge.
With TEMENOS T24 we have quickly
and efficiently undertaken a core
transformation, establishing a modern
core banking platform to support our
domestic and international growth.
TEMENOS T24 caters to our existing
and future needs. The functional
breadth of TEMENOS T24 enables us
to further improve our product and
service offering, so we can maintain our
leadership in Taiwan and quickly engage
in expansion activities to become a
leading brand across the continent.
Tina Chiang - President - Bank SinoPac

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TEMENOS T24 and Microsoft

The Springboard for SinoPacs Growth Strategy
On July the 16th 2012, SinoPac celebrated the domestic go-live
of TEMENOS T24, bringing to a head a remarkably efficient and
collaborative implementation process. Strong project governance and
high-level sponsorship from the bank, Temenos, Microsoft as well as
IBM (the system integrator) and HP (the hardware vendor) ensured the
timely delivery of the full solution.
All 129 domestic branches in Taiwan, serving three million customers
and processing up to two million transactions per day, went live
simultaneously and smoothly. It was a true big-bang go-live as the
legacy system was immediately switched off. The overseas locations
in Hong Kong, Macau, China, Vietnam and the US will be added to
the central hub in Taipei during a second phase, starting with the
Vietnamese go-live in early 2013. The mainland China subsidiary in
Nanking will go-live as soon as SinoPac receives approval from the
China Banking Regulatory Commission.

From day one, the Temenos solution has provided SinoPac with the
power it requires to scale up its business volumes and to launch its
overseas expansion into faster growth markets, both in a highly costeffective manner. The solutions key features are:
1. A centralized, seamlessly integrated, highly parameterizable and
configurable platform which dramatically speeds up innovation and
unleashes first-mover capabilities
2. Massive scalability and autonomy to support virtually unlimited
growth of customer and transaction volumes
3. A huge reduction in total cost of ownership (TCO), through a
significant increase in efficiency and a huge reduction in operating
and maintenance costs

Temenos Case Study

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A Flexible and Seamlessly Integrated Platform Supporting

Cost-Efficient Innovation and Fast Growth
At SinoPac, TEMENOS T24 runs on Microsoft Windows 2008 Server
and SQL Server at the back-end, and integrates with a brand-new
third-party .NET branch system at the front-end, using TWS.net and
TOCF.net as the communication layer.
TEMENOS T24 is seamlessly integrated, directly or indirectly, with
over 80 external systems including the ATM front-end processing
system, operational data store and general ledger system. The solution
has also centralised SinoPacs operations by integrating deposit,
lending and international banking systems on one common platform
which supports multi-language, multi-time zone and multi-currency
operations.

Better still, the bank is now able to build new products without writing
new code, thus reducing its dependency on highly skilled programmers
and external consultants, and its vulnerability to potentially lengthy
development and testing cycles. The strong business orientation
afforded by this flexibility has firmly placed product innovation at
SinoPac in the hands of those who best understand the business. As a
result of this, SinoPacs products will not only reach the market faster
but will also be built on a sounder understanding of the markets
requirements, thus consolidating SinoPacs clear product leadership
position within the Taiwanese banking community.

TEMENOS T24 has also completed SinoPacs transformation into a

totally customer-centric financial services provider. The systems ability
The parameter-driven and highly configurable nature of TEMENOS T24 to consolidate information across service channels and business lines
enables SinoPacs successful differentiation strategy of superior and
to provide a single customer view will ensure that SinoPac distributes
faster product innovation. During the implementation process, SinoPac its innovative products to the right customers at the right time and at
was able to effortlessly configure its existing, award-winning innovative the right price.
products in TEMENOS T24. This was no simple task as the banks
portfolio includes products as distinctive as:
Ultimately, the combination of superior product innovation and total
customer centricity will enable SinoPac to capitalize on domestic and
Fast Renminbi Remittances between Taiwan and China (within 60
international opportunities faster and more fully than its banking
minutes)
competitors, ever sharpening the competitive edge it needs to thrive in
B-to-B-to-C e-Payment Platform and Payment Gateway
the competitive marketplace.
REIT (Real Estate Investment Trust) System
Global Collective Trust Account Management System
China UnionPay Card Issuance and Acquiring
Affinity and Loyalty Credit Card

By implementing the highly

parameterized TEMENOS T24 banking
software, SinoPac has significantly
empowered product innovation, and
reduced time-to-market of products and
branches domestically and overseas.
Robert Tsai - CIO - Bank SinoPac

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Powering Fluid High-Volume Business:

Proven Massive Scalability and Resilience
As proven in the TEMENOS T24 R12 high-water benchmark
performance test on the Windows Server 2008 R2 Application Server
and Microsoft SQL Server 2012 running on HP based machines with
Intel Xeon Processors18, the TEMENOS T24 and Microsoft platform
can effortlessly handle the heavy processing and performance
requirements of a large-scale retail banking business while
dramatically increasing operational efficiency.
The massive and linear scalability and resilience of the TEMENOS T24
solution now underpins SinoPacs drive to become the most flexible
and convenient financial services provider in the cross-straits region
for both retail and corporate customers19. Upon go-live, the platform
was effortlessly serving three million customers and processing
up to two million transactions per day. The bank is convinced that
TEMENOS T24s performance will scale effortlessly as it ramps up its
large retail operations USD 12 billion in consumer loans as of the
end of 2011 - and pursues its expansion abroad, generating significant
growth of its customer and transaction volumes over the next few
years.

Sources
18 TEMENOS T24 R12 High-Water Benchmark performance test conducted at the Microsoft Platform
Adoption Centre (PAC) in the USA. The results of the high-water benchmark test were impressive. The
system processed more than 11,500 transactions per second (TPS) in online testing and averaged over
10,000 interest accrual and capitalizations per second during close-of-business processing, processing
25 million capitalizations and account accruals in less than 42 minutes. The testing demonstrated near
linear scalability (95%) as the number of agents used was increased.
19 SinoPac currently uses SQL 2008, but the platform already demonstrates very strong scalability, and
the proven massive scalability with SQL 2012 is a simple upgrade away.

Launch of the Kinmen branch on TEMENOS T24

The systems flexibility and high level of parameterization are other

important factors of inherent scalability. An example of this is the
ease with which TEMENOS T24 users can create and launch new
branches in the system. SinoPac has already begun leveraging this: a
short time after go-live, the bank was able to open a branch in Kinmen
(Taiwan) without performing any coding. The bank is also ready to
launch its Nanjing branch in mainland China as soon as it receives
approval from the China Banking Regulatory Commission.
The new platform has also significantly increased the speed of doing
business at SinoPac. For instance, the straight-through-processing
(STP) rate has significantly increased, and online light fund transfers
now take 0.372 second per transaction, while interest accrual and
capitalizations processing during close-of-business has dramatically
sped up, providing the banks management with a clear, coherent and
accurate view of its operating status in a much reduced amount of
time.

Temenos Case Study

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Shrinking the Total Cost of Ownership: 50% Reduction in Hardware

and Software Maintenance Costs
Considering the relentless pressures on banking returns in Taiwan,
an absolute prerequisite for SinoPac was that its new core banking
system reach an unrivalled level of efficiency and cost-effectiveness
immediately upon go-live.
TEMENOS T24 on the Microsoft platform has delivered exactly this.
With its technology stack optimised for high performance running
on reliable yet cost-effective HP hardware, its industry leading
architecture and its industry best practice processes, T24 is already
delivering significant operating efficiencies. For instance, Sinopacs
annual hardware and software maintenance costs have both been
reduced by 50%.

At yet another level, the faster processing times combined, integrated

credit limit and risk management, and reduction in the number of
reports by nearly one third have all helped reduce SinoPacs cost of
measuring risk and, even more importantly, the potentially much
greater cost of not gauging risk soon enough or accurately enough. For
instance, the position revaluation frequency has risen from monthly
to daily, affording the bank a far stronger basis for forecasting and
decision-making

The cost savings are a direct consequence of the dramatic increase

in operating efficiency which SinoPac and Temenos have achieved
by leveraging TEMENOS T24s model processes and by increasing
the pervasiveness of straight-through-processing to cover previously
sub-efficient areas such as trade finance, deal management and
authorizations. The time to complete the daily close-of-business has
fallen by 70% (from 13 to 4 hours), and the month-end COB takes
6 hours less than before. Similarly, the batch input/ouput daily and
monthly processing times (e.g. for salaries, pension fund dispatches)
are, respectively, 1.4 and 3 hours shorter than before.

Through the implementation of

TEMENOS T24, the core banking
systems Close-of-Business is no longer
an overhanging concern. The T24 COB
time has reduced by two thirds - a
dramatic improvement.
Robert Tsai - CIO - Bank SinoPac

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12

Conclusion Will the Dragon Fly?

he Taiwanese domestic banking market is more competitive

than ever and no longer has space for banks which cannot
differentiate themselves in other ways than through pricing.
In order to survive and propel itself towards the front of the pack,
SinoPac has selected and implemented TEMENOS T24 on the
Microsoft platform to be the engine of its business strategy for the
next five years and beyond. With TEMENOS T24, SinoPac has the
power to gain market share domestically and internationally through
superior and faster product innovation and customer-centric service,
while increasing its operational efficiency and shrinking its cost base.
These objectives had already been partly or fully achieved at the time
of the TEMENOS T24 go-live. SinoPac has substantially condensed its
product go-to-market cycle, and now has a single integrated platform
for expansion to mainland China and further. Simultaneously, it
has seen its operational efficiency dramatically increase and the
maintenance costs of its IT platform fall by an impressive 50%. These
benefits will be amplified as SinoPac grows, thanks to the proven
massive scalability and resilience of the platform.

Now SinoPacs uncertainties about the future are mostly exogenous.

Will the Taiwanese economy and banking sector be energized by
the countrys new ties with mainland China, or will they instead
be stressed by the mainlands competitiveness? Will customer
preferences and appetite in Greater China evolve in unanticipated
ways if the budding middle-class is adversely affected by slower
macro-economic growth? The challenge now is for SinoPac to
leverage the value created by TEMENOS T24 in the face of the
reshaping economy, turbulent global financial sector and evolving
customer preferences. In any case, the early benefits for SinoPac of
having TEMENOS T24 on the Microsoft platform indisputably bode
well for the banks future.

Temenos Case Study

14

Author
Thomas Krommenacker is a Senior Manager in the Temenos Strategy
and Marketing Department, based in the Geneva Headquarters.
Further contact
For more information about Temenos products or to arrange a
product demonstration, please contact salesteam@temenos.com
For information regarding re-use of this publication or to obtain other
recent studies or white papers, please contact
marketing@temenos.com
For information regarding re-use of this publication or to obtain other
recent studies or white papers, please contact
marketing@temenos.com
For general enquiries, please visit our website: www.temenos.com

About Temenos
Founded in 1993 and listed on the Swiss Stock Exchange (SIX: TEMN),
Temenos Group AG is the market leading provider of banking software
systems to retail, corporate, universal, private, Islamic, microfinance,
community banks, wealth managers, and financial institutions.
Headquartered in Geneva with more than 60 offices worldwide,
Temenos is proven in over 1,500 customer deployments in more
than 125 countries across the world. Temenos software products
provide advanced technology and rich functionality, incorporating
best practice processes that leverage Temenos expertise around the
globe. Temenos customers are proven to be more profitable than their
peers: as of April 2012 over the last 3 years Temenos customers
have enjoyed on average a 30% higher return on assets, a 46% higher
return on capital and a cost/income ratio that is 8.5 points lower than
non-Temenos customers.
For more information please visit www.temenos.com
About SinoPac
Bank SinoPac (BSP), a wholly owned subsidiary of SinoPac Financial
Holdings Co., Limited (SPFH), is a full-service commercial bank
with banking services equally emphasized in corporate and individual
sectors. SPFH has total assets of well over NT$1,000 billion.
Bank SinoPac current operates through 18 divisions, 1 office and 129
branches in Taiwan. In addition, the bank has an offshore banking unit
(OBU), four overseas branches in Los Angeles, Hong Kong, Macao,
and Kowloon, two liaison offices in Vietnam and Nanjing, and one
subsidiary in California. The California subsidiary maintains 9 branches
in the US, one full service branch in Vietnam and one liaison office in
Beijing.

Temenos Case Study

15

Disclaimer - Temenos
This case study is based on selected information available in the public
domain and provided by the bank, upon which we have
placed reasonable reliance.

Disclaimer - Bank SinoPac

The case study documents have been provided for information
purposes only and are only subject to internal communication
and discussion.
All the information concerning Bank SinoPac (the Bank) in the
document is obtained from its annual financial reports. The bank does
not guarantee, and accepts no legal liability whatsoever arising from
or connected to, the accuracy, reliability, or completeness of any
material contained in the documents.
In some cases the material may incorporate or summaries views,
standards or recommendations of third parties. Such material
is assembled in good faith, but does not necessarily reflect the
considered views of the Bank.

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