Hawaii’s Largest Bank To Boost Wealth Management Business With WealthManager

Lisbon - 24 May 2011

Temenos strengthens foothold in the US with latest signing.

Temenos (SIX: TEMN), the market leading provider of banking software, today announced that First Hawaiian Bank (FHB), Hawaii’s oldest and largest bank, will implement WealthManager, an industry leading front-office platform designed to achieve client centricity and give financial advisors a holistic approach to wealth management by consolidating portfolio and client data. Already a domestic market leader in retail banking, this will allow FHB to continue to grow its wealth management business by providing wealth advisors with a single, aggregated 360 degree customer view for best in class service delivery.

The system will allow FHB‘s wealth advisors to centralise portfolio information, including managed and external assets across trust, brokerage, banking and insurance onto one platform, giving the advisors a single view of each client’s financial profile. WealthManager will provide FHB with a broad suite of modules and rich functionality to reduce the current number of systems, boosting operational efficiency and helping to lower overall costs.

FHB has licensed the full WealthManager suite to manage the entire wealth management lifecycle for its high net worth clients including performance measurement, client reporting, monitoring asset allocation, and tracking against the client’s Investment Policy Statement. WealthManager will help to automate the bank’s front-office processes and deliver comprehensive integration of customer relationship management (CRM) and portfolio management to support exceptional client service delivery. The platform’s intuitive web user interface and relationship centric approach automatically links all activity with the client record to offer user friendly navigation, saving staff time and increasing productivity.

Private clients will also benefit from online access to portfolio information online using WealthManager’s client portal to monitor and evaluate their statements, aggregated assets, transactions, asset allocation and performance.

“To serve our customer’s needs successfully, we have to see their financial situation as a whole. By aggregating data from multiple legacy systems using WealthManager, we provide a more complete picture to our portfolio managers, advisors and trust officers”, according to Corbett Kalama, Executive Vice President, FHB Wealth Management Group, “We now have a highly scalable, multi-lingual, multi-currency solution to give us a seamlessly integrated environment to serve all client segments, which interfaces and co-exists with our legacy systems, as well as offering ease of integration with multiple back offices and custodians.”

“We are delighted to welcome First Hawaiian Bank, our first customer in Hawaii, into the Temenos community. We look forward to working with its forward-thinking wealth management team to implement WealthManager and support the bank’s vision of becoming a leader in this market segment,” says Jean-Michel Hilsenkopf, Managing Director, Temenos Private Wealth Management. “With this latest signing, Temenos continues to strengthen its foothold in the US and positions WealthManager as the technology platform of choice for leading wealth management firms in the region.”

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