Dutch bank ABN AMRO, in collaboration with Sopra Banking Software, has introduced its new mobile wealth management app, Kendu.

ABN Amro

Image: ABN AMRO has used Sopra Banking’s software in new mobile wealth management app. Photo: courtesy of ABN AMRO Bank N.V.

ABN AMRO is using Sopra Banking’s Direct Banking on SaaS software to manage new Kendu wealth management application.

Sopra Banking Software Netherlands country manager Duco De Lange said: “Sopra Banking Software is delighted to be able to support ABN AMRO in its digital transformation process with the “Direct Banking on SaaS” solution. This is a 100% digital offering in the field of online wealth management that provides an exceptional customer experience.”

Kendu is a new app that integrates the latest technology and allows customer to invest in his life goals such as early retirement, childrens’ education or holiday home.

The new wealth management app will help determine the risk profile through defining the consumer’s ambitions and the related timeline.

Kendu will automatically offer an overview of required (periodic) investments to achieve objectives, selects funds and assures proactive management, based on information collected.

ABN AMRO’s Omar el Khamlichi said: “We are pleased that Sopra Banking Software has helped us deliver our new offering to the market with its “Direct Banking On SaaS”.

“Sopra Banking provides a banking solution on SaaS that can integrate into our digital offering and has demonstrated its commitment to make our ambitions a reality.”

In January this year, ABN AMRO has deployed Temenos’ WealthSuite digital banking platform to advance its private and corporate banking business.

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 single shared digital banking platform will enable the Dutch bank to decrease IT operational costs and achieve an improved cost/ income ratio.

Sopra Banking Software, which is a subsidiary of the Sopra Steria Group, is a long-term partner of more than 800 banks in over 70 countries. With around 4,300 experts, Sopra Banking provides a range of software and services to its customers.