Friso Westra

ABN AMRO has gone live with Temenos’ WealthSuite digital banking platform in a bid to power its international operations for private and corporate banking. The solution is expected to reduce ABN’s IT operational costs, achieve improved cost/income ratio, future proof its growth and enable the delivery of customized products. ABN AMRO’s Belgium branch will be the first one to undergo the implementation under the bank’s rollout plan.

Friso Westra, Head of IT Development Core Banking International of ABN AMRO said: “We selected Temenos as our technology partner to future-proof the ongoing growth of our private bank. We run our corporate and part of our private banking operations now from one single digital platform. We expect IT costs savings and efficiencies from the standardization of processes and products. With Temenos WealthSuite we are confident of achieving our ambition in offering the most innovative wealth management products and services in the industry.”

According to the supplier, Temenos‘ WealthSuite will enable ABN AMRO to deploy a platform which is scalable and configurable as well as simplify its IT and business operations. Temenos’ solution will allow ABN to launch a new corporate bank within nine months through a single core banking system.

Max Chuard, Chief Executive Officer, Temenos, stated: “ABN AMRO will have a single, state- of- the- art banking platform and benefit from massive economies of scale, reduced IT operational costs and personalized customer experience. The platform will support traditional and digitized interactions, process automation and standardization of products, which means faster time to market and increased business agility. Our cloud-native, cloud-agnostic and advanced open API software enables ABN AMRO to drastically reduce transformation time and cost.”

Previously, ABN AMRO selected Temenos’ T24 Core Banking platform as well as Temenos Payments. It recently selected Temenos Continuous Deployment with an aim to speed up its software delivery.

Cognizant has been the consulting and system integration service provider for the current project.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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