Wealthtech and digital bank Alpian has chosen bank software firm Temenos to power its proposition.

Temenos SaaS technology, including Temenos Transact, core banking, and Temenos Payments, will enable Alpian to rapidly launch and deliver its services.

Alpian plans to launch in 2021 and tap the market of 2.6 million mass affluent customers in Switzerland currently unattached. However, this market holds CHF660bn in assets, according to Alpian.

Temenos Transact delivered as SaaS should enable Alpian to get to market faster with lower operational costs. Furthermore, Temenos Payments will reduce time-to-market for payment services and allow the bank to provide seamless and secure traditional payments that are also compliant.

Alpian’s customers will be able to access and manage their money in a single multi-currency bank account for Swiss France and Euros.

In addition, Alpian plans to expand across Europe and Temenos SaaS has the elastic scalability for this.

Schuyler Weiss, chief executive, Alpian, said: “Alpian will introduce a new way for affluent clients to bank that is attuned to how they want to manage their wealth. Our approach is client-centric and driven by technology and innovation. With Temenos SaaS, we can focus our resources on delivering an exceptional service and experience for our customers. We have set an aggressive launch timeframe and the Temenos’ modern technology will enable us to achieve our goal and allow us the freedom to continue to innovate and differentiate our offering into the future.”

Max Chuard, chief executive, Temenos, added: “We are delighted Alpian has selected Temenos to deliver its pioneering digital service. Temenos Transact and Temenos Payments, delivered as SaaS, will allow Alpian to reap the benefits of scalability, efficiency and an elastic cost structure. Alpian joins our growing community of the world’s most ambitious neobanks leveraging the power of Temenos SaaS to innovate and grow without the restriction of legacy technology. Alpian has identified a real gap in the market and its smart approach to technology will help it stay one step ahead of the competition.”

For more on Alpian, Weiss talked to Private Banker International here.