Julius Baer, the Swiss private banking group, which plans to to progressively renovate its IT systems, will undertake the project with Temenos. The bank’s program will begin with core system replacement, using the Temenos T24 platform to be used as the hub for the bank’s operations in Asia. After that, Julius Baer will progressively modernize its systems across the front and back-office.
Julius Baer is the leading Swiss private banking group, with a focus on servicing and advising sophisticated private clients in global wealth management through 50 global locations. After Asia, the bank expects to use Temenos for core banking replacement across multiple additional sites, including Europe, and to develop its next generation multi-channel private wealth solution.
Julius Baer considered Temenos’ technology to be the best fit for its IT strategy. The goal of the modernisation programme is to improve the bank´s clients’ service experience, to increase operational efficiency and to become more agile.
“Regulatory burdens are rising at the same time as customer expectations are changing,” said David Arnott, CEO at Temenos. “Julius Baer has the right strategy: to build a scalable, highly-automated IT platform for back-office operations with decoupled, cutting edge front-office capabilities that enable it to build rich, interactive and personalized experience across customers’ preferred channels” .