Julius Baer live with Temenos wealthtech
Private banking group Julius Baer has completed the migration to Temenos’ WealthSuite platform at its subsidiaries in Hong Kong and Singapore.
WealthSuite consists of Temenos’ flagship core banking system – T24 – at the back office, and a range of front-end applications such as portfolio management (which stems from Odyssey Financial Technologies, a wealthtech vendor acquired by Temenos in 2010), channels and analytics.
The project commenced in early 2015, following a lengthy selection process to find a new core banking solution to harmonise the bank’s operations worldwide. Temenos beat rival Avaloq to the deal at the final stage.
T24 replaced ERI’s Olympic core banking system. Incidentally, ERI was not part of the selection process at Julius Baer.
“We are pleased with the go-live in Asia, which is our second home market,” comments Nic Dreckmann, COO of Julius Baer.
“Temenos’ WealthSuite is laying the operational and technical foundation for our growth in the region. After last year’s integration of the T24 platform in Luxembourg, this is the second major step in our effort to harmonise our IT landscape around the world.”