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Temenos adds investment advisory features to Digital Wealth

Source: Temenos

Temenos (SIX: TEMN) today announced new functionality in its Digital Wealth solution enabling banks and wealth management firms to elevate the digital experience with sophisticated investment advisory features, helping them engage and tap growth with high-net-worth clients.

Wealth management is the fastest growing banking segment with a generational transfer underway and an estimated $81 trillion to be added to the wealth pool by 2026.

Temenos’ Wealth Advisory Group with over 40 of the world’s top private banks is meeting in Vienna at this year’s Temenos Community Forum to validate Temenos wealth strategy and discuss the future product roadmap.

Meghna Mukerjee, Strategic Advisor, 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 personalized experiences.”

With the new Investment Advisory features of Temenos Digital Wealth, Private Wealth Managers (PWMs) can give clients instant, real-time visibility into their portfolio and streamline engagement with digital workflows. Clients can easily track portfolio health against investment objectives across a range of key metrics such as asset allocation, risk, and investment constraints. They can review their investor profile and adjust their target strategy. Clients can also receive and respond to investment proposals and connect virtually with their relationship manager with integrated video chats and co-browsing by leveraging Temenos Exchange partners – all within a mobile app.

Additionally, PWMs can leverage Temenos’ accelerator app, flexible components and low-code tooling to redesign the complete customer experience for their specific needs and apply their unique brand. 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.”

With clients including Schroders, Mirabaud, new digital challengers such as Alpian as well as the international division of a tier-1 US bank, Temenos is a proven and trusted platform for wealth management, verified against regulatory requirements in multiple countries and economic zones.

In 2022, Temenos was named a leader in the Forester Wave for Digital Wealth Management Platforms, positioned the furthest for its wealth management product strategy and strength of its offering. According to the Forester report, ‘Temenos stands out for its end-to-end digital wealth management capabilities’ and ‘excels in most areas of product functionality and has a roadmap and planned enhancements to ensure they will continue to do so.’

Temenos is the only banking platform readily available on all major public cloud providers for banks to run themselves or as a SaaS solution via Temenos Banking Cloud. 

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