Temenos adds wealth apps to retail banking suite

Temenos adds wealth apps to retail banking suite

Swiss core banking vendor Temenos has added robo-advisory and goal-based investment apps to its Infinity suite of APIs, providing retail banks with a low-cost entry point to the wealth management arena.

The new wealth apps are available for any core banking system or pre-integrated with Temenos T24 Transact.

The robo-advisor offering allows retail banking customers to create or adjust a desired portfolio, based on personalised criteria such as risk tolerance, target dates and asset size, by themselves or with an advisor.

Goal-based investing enables customers to define specific financial goals, such as a holiday home purchase or retirement, view simulation results illustrating how they can achieve those goals, and then put the investment plan into action.

Darryl Proctor, product director, digital, Temenos, says: “By expanding Temenos Infinity for Retail Banking with robo-advisor and goal-based investing, retail banks can offer personalised wealth management products and services to their customers from a single platform, alongside other banking services. This will enable them to address the growing segment of next-generation investors, who are looking to make informed investment decisions and achieve their financial objectives in line with their life events.”

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