View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
July 20, 2018

Julius Baer taps Cognizant to complete APAC core platform upgrades

Swiss private banking group Julius Baer has completed upgrades to its business processes and core banking systems in the Asia Pacific region using technologies from Cognizant and Temenos.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

The modernisation project, part of the bank’s comprehensive digital transformation strategy, involved the implementation of the Temenos T24 core banking platform and the Cognizant Banking and Financial Services Amplify solution.

A Cognizant Digital Systems & Technology practice team was engaged with the project, which redesigned the bank’s core platforms, applications, business processes and customer interfaces.

Further, the project is expected to enable the bank expand its wealth management product portfolio.

Cognizant Asia Pacific head Jayajyoti Sengupta said: “Today’s rapidly changing banking environment requires a modern IT infrastructure in order for them to be more agile, compete and seize the business benefits that digital technologies like advanced analytics and AI enables.

“By reimagining the technology and processes for Bank Julius Baer, we were able to implement a wholly transformative solution spanning back-end processes to customer experience that lays the foundation for growth.”

Julius Baer selected Temenos as its global partner for the modernisation project in 2015. Earlier this year, the bank went live with the Temenos WealthSuite at its businesses in Hong Kong and Singapore.

Julius Baer COO and executive board member Nic Dreckmann said: “We are witnessing a fundamental shift in how our customers prefer to engage with us and are deploying a business and technology infrastructure that will allow us to provide a superior experience.

“Our shift to more digital engagements, coupled with increasing regulatory reporting obligations, is driving our biggest ever digital transformation programme.”

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

Topics in this article: ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International