Dutch banking group ABN AMRO has selected Temenos’ integrated wealth management platform ‘WealthSuite’ for its international private banking business.
Mission-critical solutions provider Temenos said ABN AMRO will use the company’s applications in both its private and corporate banking operations, following the launch of the platform.
Through consolidation of the applications on the new platform, ABN AMRO hopes to realize operational efficiencies to respond to market demands well.
ABN AMRO has been operating the T24 core banking platform since 2009 as the hub for its corporate banking activities. The latest move will enable it to extend the use of T24 to its private banking and diamond & jewelry business.
The integrated suite of front to back applications Temenos’ WealthSuite encompasses the complete private banking value chain including unrivalled as well as future-proofed multi-channel client access.
Sophisticated portfolio management, fully MiFID compliant advisory and relationship management support, STP order execution and transactions settlement in addition to a fully integrated business intelligence solution are also included in the value chain.
Temenos EMEA managing director Jean-Michel Hilsenkopf 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."
ABN AMRO Bank was re-established in its current form in 2009, following the acquisition and break-up of the original ABN AMRO by a banking consortium. The consortium comprised Royal Bank of Scotland Group, Santander Group and Fortis.
Image: ABN AMRO headquarters in the Zuidas, Amsterdam. Photo: courtesy of Mig de Jong