Julius Baer has completed a core banking modernisation project in Asia Pacific with the help of Cognizant and Temenos.

The bank now uses Temenos and its T24 core banking system, as well as Cognizant’s Amplify core modernisation platform.

“We are witnessing a fundamental shift in how our customers prefer to engage with us and are deploying a business and technology infrastructure that will allow us to provide a superior experience,” said Nic Dreckmann, COO at Julius Baer.

“Our shift to more digital engagements, coupled with increasing regulatory reporting obligations, is driving our biggest ever digital transformation program. Cognizant’s robust global financial services and digital expertise has enabled us to make our vision a reality.”

Jayajyoti Sengupta, head of Asia Pacific at Cognizant, added: “Today’s rapidly changing banking environment requires a modern IT infrastructure in order for them to be more agile, compete and seize the business benefits that digital technologies like advanced analytics and AI enables.”

Julius Baer recently migrated its Hong Kong and Singapore operations to Temenos WealthSuite.

The bank finalised a lengthy and wide-reaching core banking selection process in early 2015, opting for Temenos and its T24 offering. Temenos beat off competition from rival Avaloq in the final round of the process, and the deal came at a time when the vendor’s shares were taking a dip.

by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: alexanderh@ibsintelligence.com