Dutch bank ABN AMRO has deployed Temenos' WealthSuite digital banking platform to advance its private and corporate banking business.
Image: ABN AMRO has deployed Temenos' WealthSuite digital banking platform. Photo: courtesy of ABN AMRO Bank N.V.
Temenos WealthSuite offers multi-channel and round the clock capability to help wealth managers deliver better service to client and allow advisors to automate time-consuming compliance and back-office functions.
The digital banking platform is said to help advisors manage $12 trillion (£9.4 trillion) assets under management.
Temenos CEO Max Chuard said: “ABN AMRO will have a single, state- of- the- art banking platform and benefit from massive economies of scale, reduced IT operational costs and personalized customer experience.”
The single shared digital banking platform will enable the Dutch bank to decrease IT operational costs and achieve an improved cost/ income ratio.
Under ABN AMRO’s rollout plan, Belgium is the first international branch to go live with the Temenos solution. The bank is also planning to migrate two additional countries on to the new platform in the coming years.
Temenos WealthSuite is an end-to-end, highly scalable and configurable platform, which will enable ABN AMRO to achieve considerable efficiency by automating and simplifying processes, as well as streamlining IT and business operations.
Temenos global partner Cognizant has been offering consulting and system integration services for the project. ABN AMRO can now launch a new corporate bank within nine months by using a single core banking system.
In 2009, ABN AMRO had deployed Temenos T24 Core Banking platform to advance its corporate banking activities and conduct its international business in nine countries.
The bank, which also uses Temenos Payments platform, has recently selected Temenos Continuous Deployment product to enhance its software delivery and quickly launch new innovations.
ABN AMRO core banking international IT development head Friso Westra said:”We selected Temenos as our technology partner to future-proof the ongoing growth of our private bank.
“Working closely with Temenos and our implementation partner, Cognizant we experienced a smooth go-live. I am excited as this is a big step for ABN AMRO in harmonizing our IT infrastructure and speeding up digitization.”