Nordea Bank SA, the international private banking arm of the Nordea group, has gone live with Temenos’ integrated wealth management solution Wealthsuite after a three-year implementation.

Nordea in Luxembourg

Nordea in Luxembourg

The go-live was set for October 2015 as reported in the September 2015 issue of IBS Journal – with Nordea Luxembourg seen as a flagship for Temenos’ efforts in the wealth management sector.

Jean-Philippe Bailly, COO Nordea Bank SA, says: ‘To deliver such a level of transformation in three years “from decision to production” is a remarkable result’.

Wealthsuite is a recent brand name – and is a combination of Temenos’ existing systems: the T24 core banking system at the back office and the TripleA portfolio management system at the front office, plus some Temenos Connect components for channels.

This latest development is part of Nordea’s major transformation plans to move from today’s 25 or so disparate systems to a mere eight, with Temenos’ suite at its heart.

Temenos is pushing Wealthsuite to market as an integrated, ‘best of breed’ solution specifically for the private banking/wealth management sector.

Nordea Bank is the first using this combination, but there was also another taker earlier this year – ABN Amro. The bank is already a user of T24 at a number of locations, which will now be extended across the group. On the way out is ERI’s Olympic core banking system, much to ERI’s dismay.

By Antony Peyton.

by IBS Intelligence