Temenos Wealth has been selected by Greece’s Eurobank to enhance wealth management and affluent segment services.
Eurobank and Temenos Wealth will collaborate to set up a fully-digital investment portfolio management service.
It will include a robo-advisor as well as goal-based investing apps for HNW and UHNW segments.
Goal-Based Investing will allow Eurobank’s customers to define specific financial goals, view simulation results on how to achieve the goals, and then put the investment plan into action.
Eurobank will initially rollout the robo-advisor service. It will then deploy Temenos Wealth for all investment portfolio services, including execution, advisory and discretionary services, for clients in Greece.
The bank will replace its middle and back-office systems with Temenos Transact, adopting Temenos’ Europe Model Bank approach that incorporates local functionality to accelerate implementation and MiFID compliance purposes.
Eurobank deputy CEO and Group COO Stavros Ioannou said that Temenos’ expertise will enable it to provide new, functional solutions to our customers.
Ioannou added: “We are working intensively and at all levels, towards completing our digital transformation, constantly upgrading our systems, structures and services, adopting to current trends and increased appetite for concrete, safe and innovative digital services, quickly and effectively.”
Temenos Europe president David Macdonald said: “Temenos’ market-leading technology will enable Eurobank to create enticing front-office experiences while achieving back-office efficiency with a high degree of automation.”
In January this year, Schroders Wealth Management in Switzerland extended its partnership with Temenos to automate and enhance its advisory business.
Last December, Wealthtech and digital bank Alpian selected Temenos to power its proposition.