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April 30, 2015updated 06 Dec 2016 10:24am

ABN AMRO bank rolls wealth management platform

Extends core banking system to private and diamond business

By Sam

Dutch bank ABN AMRO has rolled out WealthSuite, an integrated Wealth Management platform for its international Private Banking business.

Following the roll out ABN AMRO will use Temenos applications in both its private and corporate banking operations.

Since 2009, ABN AMRO has been operating the T24 core banking platform as the hub for its corporate banking activities.

The move extends the use of T24 to its Private Banking and Diamond & Jewelry business, meaning one operational core banking platform with one operating model across multiple business lines.

The Temenos suite is integrated front to back applications covering the full private banking value chain including multi-channel client access and services, portfolio management, fully MiFID compliant advisory and Relationship Management support, full STP order execution and transactions settlement.

Jean-Michel Hilsenkopf, Managing Director EMEA, Temenos, said: "We are delighted extend our partnership with ABN AMRO. To be successful in the digital age, the wealth management industry will need to simultaneously drive back-office efficiency and scalability while developing a highly personalised multi-channel customer experience. This is what WealthSuite enables private wealth managers to do and why ABN AMRO has selected it. We look forward to working with the team at ABN AMRO to deliver a great outcome for its business and its customers."

It also has a fully integrated business intelligence solution for management information requirements. By consolidating applications on the Temenos platform, the bank anticipates significant operational efficiencies that will help them better respond to market demands.

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