Largest Latin American bank selects Temenos' WealthSuite for core banking replacement in the cloud
Temenos (SIX: TEMN), the software specialist for banking and finance, today announces that Itaú Unibanco Holding SA (Itaú), Latin America's largest banking group, has selected Temenos' WealthSuite for its international private banking operations. The highly scalable solution combines Itaú's core banking, portfolio management, channels and analytics functions in a single wealth management platform. The bank will deploy WealthSuite in the cloud enabling the solution to scale in an agile manner according to the ongoing evolution of its business.
Temenos' WealthSuite will be implemented in a big bang approach, allowing the business to benefit from the new technology in the quickest timeframe. The new system will allow the bank to scale to meet future demand at a reduced total cost of ownership (TCO). At the same time, it will decrease time to market for new innovative products and services, and provide Itaú's clients with a seamless digital customer experience.
Carlos Constantini, CEO of U.S. and Head of international private banking at Itaú, commented: "Investing in technology and the digital transformation of Itaú is crucial in order to meet clients' needs and create lasting value. Itaú's international Private Bank selected a technology platform that will enrich the customer experience, reduce time to market for new products, generate efficiencies and reinforce the segments' digital strategy. Temenos' WealthSuite solution will allow key international offices to automate front, middle and back office functions. Equally important, the new technology platform will make the business better prepared for the exponential evolution of technological cycles."
Jean Michel-Hilsenkopf, Managing Director Temenos Sales, stated: "We are excited that the largest bank in Latin America has selected our WealthSuite. Itaú is pioneering in the private banking space, aiming to offer a true digital customer experience and new, innovative services at the pace of market demand. As a full front-to-back integrated and digital platform, WealthSuite will help Itaú generate efficiencies and differentiate its customer proposition, while implementing in the cloud will reduce the bank's total cost of ownership. We look forward to leveraging our extensive experience in Latin America to deliver the technical tools which Itaú needs to grow its business in this area at the right pace for them and their clients."
Offering a single enhanced user experience, WealthSuite helps banks reach different client audiences with personalized investment advice, leading to better relationship management. The deployment of a single integrated wealth management platform allows for significant levels of automation and streamlined business processes. The platform offers enhanced customer service through faster response times, and personalization using the system's built-in analytics and portfolio management capabilities.
Itaú Unibanco is the largest bank in Latin America, offering a broad range of retail, corporate, investment banking and asset management services for clients around the world. Itaú Unibanco resulted from the merger of Itaú and Unibanco in 2008 and now has operations in 19 countries throughout the Americas, Asia, Middle East and Europe. Our vision is to be the leading bank in sustainable performance and customer satisfaction. Itaú Unibanco is listed on the São Paulo, Buenos Aires and New York stock exchanges (ITUB).