Schroders Wealth Management in Switzerland has extended its partnership with banking software firm Temenos to automate and enhance its advisory business.
As part of the extended partnership, Schroders Wealth Management will deploy Temenos Wealth Front Office solution on its current Temenos Transact core banking platform to standardise its advisory processes.
This solution features dashboards for relationship managers and portfolio managers, client and investment profiling, investment proposal process, advanced order generation, comprehensive pre- and post-trade compliance checks, flexible benchmarking and performance reporting.
It is also said to offer a range of portfolio modelling and rebalancing tools across a spectrum of assets.
Schroders Wealth Management Switzerland head of Investment Giovanni Leonardo said: “We chose Temenos Wealth Front Office following a selection process to support our advisory business in Switzerland.
“The software handles all the complex processes and stringent regulations involved in advisory portfolio management, allowing our relationship managers to focus on the needs of our clients. It also provides the flexibility and efficiency we need in discretionary portfolio management.”
Temenos’ solutions enable Schroders Wealth Management to oversee £65.7 bn of client assets globally, from its offices in the UK, Channel Islands, Switzerland, Singapore and Hong Kong.
Temenos Europe president David Macdonald said: “We are proud to extend our long-term relationship with Schroders Wealth Management.
“As the bank seeks to grow and expand its service offering, Temenos Wealth Front Office will help to deliver an enhanced service, greater efficiency and consistent experience for its high and ultra-high net worth clients, leading to greater customer longevity and new business opportunities.”
In December 2020, wealthtech and digital bank Alpian selected Temenos to power its proposition.
Last May, Itaú Private Bank International 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.
In 2018, Swiss private bank Julius Baer deployed Temenos WealthSuite at its businesses in Hong Kong and Singapore.