Temenos-CEO David Arnott. (Photo: Temenos)
Geneva – Temenos, the market leading provider of mission-critical solutions to the financial services industry, today announces that ABN AMRO, the leading Dutch universal banking group, has decided to adopt WealthSuite, Temenos’ best-of-breed, integrated Wealth Management platform for its international Private Banking business.
Following the roll out of WealthSuite, ABN AMRO will use Temenos applications in both its private and corporate banking operations. Since 2009, ABN AMRO has been operating the T24 core banking platform as the hub for its corporate banking activities. With this move, the bank will be able to extend the use of T24 to its Private Banking and Diamond & Jewelry business, meaning it has one operational core banking platform with one operating model across multiple business lines.
Temenos’ WealthSuite is an integrated suite of front to back applications that covers the full private banking value chain including unrivalled and future-proofed multi-channel client access and services, sophisticated portfolio management, fully MiFID compliant advisory and Relationship Management support, full STP order execution and transactions settlement as well as a fully integrated business intelligence solution for management information requirements. By consolidating applications on the Temenos platform, the bank anticipates significant operational efficiencies that will help them better respond to market demands.
Jean-Michel Hilsenkopf, Managing Director EMEA, Temenos, said: “We are delighted extend our partnership with ABN AMRO. To be successful in the digital age, the wealth management industry will need to simultaneously drive back-office efficiency and scalability while developing a highly personalised multi-channel customer experience. This is what WealthSuite enables private wealth managers to do and why ABN AMRO has selected it. We look forward to working with the team at ABN AMRO to deliver a great outcome for its business and its customers.” (Temenos/mc)
Temenos Group AG, headquartered in Geneva, is a market leading software provider, partnering with banks and other financial institutions to transform their businesses and stay ahead of a changing marketplace. Over 2,000 firms across the globe, including 38 of the top 50 banks, rely on Temenos to process the daily transactions of more than 500 million banking customers as well as over USD 5 trillion in assets. Temenos customers are proven to be more profitable than their peers: in the period 2008-2012, they enjoyed on average a 32% higher return on assets, a 42% higher return on equity and an 8.1 percentage point lower cost/income ratio than banks running legacy applications.