Temenos (SIX: TEMN), the Cloud banking platform, recently announced that Mirabaud, the Swiss private bank, has selected Temenos “to move from a traditional on-premise system to a digital end-to-end wealth management platform on Temenos Banking Cloud.”
With the generational transfer of wealth, new regulations and growth in asset classes such as private equity and digital assets, Temenos Banking Cloud “gives Mirabaud the agility to quickly adapt to changing investment opportunities and client expectations.”
Mirabaud will “adopt the complete suite of Temenos wealth banking capabilities, from self-service channels and portfolio management to back-office processing, including Payments, Financial Crime Mitigation and Data Lake.”
The breadth and depth of Temenos wealth capabilities will “enable Mirabaud to deliver a digital customer experience with personalized services and highly automated processes.”
Privacy is and will always “remain an absolute key consideration for Mirabaud in selecting its business partners.”
Temenos demonstrated its advanced technology architecture “to deliver the utmost secure cloud-native platform.”
All personal data “is fully encrypted and tokenized, ensuring no customer identifying information is ever held on Temenos systems.”
Camille Vial, Chief Executive Officer, Mirabaud, said:
“This key investment for the Mirabaud Group is a clear demonstration of our dedication to our clients, positioning ourselves as a leading partner for them today and the generations to come. We are working to carry on adapting quickly to their needs and market trends while never losing sight of our core vision and values to combine our entrepreneurial and passionate human approach with cutting edge technology.”
Max Chuard, Chief Executive Officer, Temenos, commented:
“Mirabaud is one of the oldest and most established banks in Switzerland. Their success has always been based on a passionate, human approach to clients but they recognize that wealth management is changing rapidly. There’s increasing competition and a new generation of customers that expect a human touch combined with the power of technology. Adopting the latest SaaS technology for their end to end platform will accelerate their digital transformation and this will allow them to continue delivering exceptional customer experience. Both today and in the future.”
As covered, Temenos AG claims to be “the world’s leader in banking software.”
Over 3,000 banks across the globe, including 41 of the top 50 banks, “rely on Temenos to process both the daily transactions and client interactions of more than 1.2 billion banking customers.”
Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software “enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence.”
Temenos software is proven to “enable its top-performing clients to achieve cost-income ratios of 26.8% half the industry average and returns on equity of 29%, three times the industry average.”
These clients also “invest 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks’ IT investment is adding tangible value to their business.”