Software firm Temenos has boosted its Digital Wealth solution by adding investment advisory features.
The features allow users to engage and tap growth with high-net-worth (HNW) clients.
Private wealth managers (PWMs) can now give clients instant, real-time visibility into their portfolio and streamline engagement with digital workflows.
Furthermore, clients can track portfolio health against investment objectives across a range of key metrics. These include asset allocation, risk and investment constraints.
In addition, they can review their investor profile and adjust target strategy with ease.
PWMs can also leverage Temenos’ accelerator app, flexible components and low-code tooling to redesign the customer experience. When consumed as SaaS on Temenos Banking Cloud, the solution helps banks accelerate digital and reduce the cost of development.
Alexandre Duret, senior product director, Temenos, said: “In the face of increased competition, the new advisory capabilities of our Digital Wealth solution provide established players the opportunity to stay relevant and expand their footprint with the new generation of High-Net-Worth customers. Importantly, the solution enhances the digital interactions while supporting a hybrid-model that ensures optimal engagement between client and their relationship managers.”
Meghna Mukerjee, strategic adviser, Aite-Novarica Group, commented: “The next generation of high-net-worth individuals (HNW) has a digital-first mindset. With high levels of volatility and market uncertainly, there is an increasing need for curated digital servicing and digital advisory solutions that allow these HNW individuals to grasp the changing market dynamics quicker and give them greater control over their financial lives. Based on our research, Temenos’ Digital Wealth solution offers these types of powerful, hybrid modules that provide digitally augmented and at the same time personalised experiences.”
Temenos holds a number of wealth management clients and many of them have attended its TCF 2023 event in Vienna. The Temenos Wealth Advisory Group will meet at this conference to validate the software firm’s strategy and position.