Itaú Private Bank International has opted for Temenos Infinity Wealth and Temenos Transact on Temenos SaaS to gain efficiencies across its international private banking business in Switzerland and the US.
Leveraging the cloud-native and cloud-agnostic solutions, the bank will now gain access to a single wealth platform with functionalities covering back-office processing to front-office portfolio management.
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The adoption of a SaaS platform is said to lower the bank’s time-to-market and IT expenses, support accelerated and remote deployment.
It is also said to enhance operational efficiency and offer an improved cost/income ratio.
The vendor also claims that its technology will enable the bank to boost its assets under management and customer base as well as scale operations.
The bank’s relationship with Temenos dates back to 2017.
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By GlobalDataTemenos CEO Max Chuard said: “Temenos SaaS will provide Itaú Private Bank International with cost and scalability benefits, high security and availability. Temenos Infinity Wealth and Temenos Transact will transform Itaú Private Bank International’s entire business, from front to back office.
“Amid the global uncertainty surrounding the COVID-19 pandemic, Itaú Private Bank International will reap the benefits of a highly resilient and secure cloud offering, reduced time to market, and will be able to deliver outstanding digital customer experiences.”
