What We Have Delivered

Luminor Platform Consolidation

In October 2017 DnB Bank and Nordea Bank merged their operations in Estonia, Latvia and Lithuania by forming Luminor Bank with headoffice in Tallinn, Estonia. Both banks before merger were using completely different platforms to serve their customers and apparent need to consolidate all operations on a single platform was identified. As SEMTEXX was finishing implementation of automated bailiff order processing on one of the platforms used, Temenos T24, we were assigned task to assist bank with gap analysis between two platforms taking into account different regulatory environments in 3 Baltic states as well as to design and implement migration process. As migration was planned in waves according to target platform readiness to support products customers being migrated were using, it was necessary to design and implement intermediary solution for transaction synchronization between platforms for migrated customers.

Team of 5 Temenos T24 consultants and 4 experienced quality assurance specialists were supplied to the bank along with 2 data and product analysts to support bank's efforts to consolidate their operations in a single IT platform. Data migration and post-migration support was successfully completed in December 2020.
Project Info
Client
Luminor

3rd largest retail bank in the Baltics

Luminor is the third-largest provider of financial services in the Baltics, with approximately 1 million clients, 2500 employees, and market share of 16.8% in deposits and 19,5% in lending as at the end of the third quarter of 2019. Total shareholders’ equity amounts to EUR 1.6 billion and Luminor is capitalized with a CET1 ratio of 18,7%. Luminor’s vision is to become the best financial ecosystem for its customers.