International software firm Temenos, self-dubbed Everyone’s Banking Platform, opened its TCF 2023 conference displaying the successes of the previous year.
TCF 2023, hosted in Vienna, began with chief executive Andreas Andreades explaining how Temenos has signed so many contracts recently.
To over a thousand delegates, he said: “Cloud technology is advancing and more banks are ready to take advantage of it.”
The arm of Kiatnakin Phatra Financial Group will implement Temenos Wealth to bring a consolidated advisory front-office across all investment products.
Temenos Wealth will enable Kiatnakin Phatra to digitise more operational elements as well as broaden the range of products and increase front office sales efficiency. This should aid in enhancing client interactions and attract a new generation of investors.
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In addition, the firm has asked Temenos partner Syncordis to lead the transformation project. This includes building a Temenos Wealth Centre of Excellence, which will offer bespoke training services for internal teams and Temenos customers in Thailand.
TCF 2023: What customers and clients want
So what do customers want from their banks and how is Temenos helping banks deliver it? Banks’ evolution had to happen as “modernisation has never been an option but mandatory”.
“Hyperpersonalisation” is one thing. According to Andreades, “people expect to be treated as individuals”.
Security was also a hot button issue, especially the cost of it. However, Andreades believed that “you can’t price cyber risk, you need to trust experts on cyber risk” or lose much more than you could ever think.
TCF 2023 also highlighted ESG and Temenos stated that its work with AWS and Microsoft helped companies save between 93 and 97% of emissions.