Mirabaud will implement the complete suite of Temenos wealth banking capabilities to deliver personalised digital services and highly automated processes to customers


Mirabaud will move to Temenos Banking Cloud. (Credit: Kaitlyn Baker on Unsplash)

Switzerland-based private bank Mirabaud has selected Temenos to switch from a traditional on-premise system to a digital wealth management platform on Temenos Banking Cloud.

With Temenos Banking Cloud, the Swiss bank is enabled to rapidly adapt to changing investment opportunities and client expectations.

Mirabaud will implement the complete suite of Temenos wealth banking capabilities, from self-service channels and portfolio management to back-office processing.

It will benefit from Temenos’ payments, financial crime mitigation and data lake capabilities, to deliver personalised digital services and highly automated processes to customers.

Mirabaud chief executive officer Camille Vial said: “This key investment for the Mirabaud Group is a clear demonstration of our dedication to our clients, positioning ourselves as a leading partner for them today and the generations to come.

“We are working to carry on adapting quickly to their needs and market trends while never losing sight of our core vision and values to combine our entrepreneurial and passionate human approach with cutting edge technology.”

Temenos stated that all the personal data is fully encrypted and tokenised, and assured that no customer identifying information is held on its systems.

In a separate development, Temenos announced that the Middle Eastern challenger and digital wallet stc pay has moved to Temenos’s open platform for composable banking.

Established in 2018 as an Electronic Money Institution (EMI), stc pay secured a digital banking license from Saudi Central Bank last year.

It allows customers to manage money on their smartphone, send and receive payments worldwide, shop online and withdraw funds from ATMs.

The company used Temenos’s cloud-native platform to scale its operations and is now using its open platform for composable banking to capture new opportunities with future products.

It will run entirely on Temenos open platform, by leveraging Temenos Banking Capabilities to facilitate all transactions and processing for Customer Accounts.

Seedz Technology has led the implementation, in partnership with Temenos and BankerWay, a Temenos specialised service provider.

Temenos EMEA-APAC president Jean-Paul Mergeai said: “It is a privilege to partner with stc pay as it expands its service and reach across the region. stc pay delivers a compelling digital experience for customers seeking a fast, easy way to manage money on the go.

“With high mobile penetration rates across the region and a growing preference for cashless transactions, stc pay has a bright future and is leading in this exciting growth segment.

“Congratulations to the stc pay team on passing 8 million accounts in just 24 months, a major accomplishment that demonstrates the scalability of the platform and the value the service delivers to customers every day.”