Swiss private banking group Julius Baer has completed upgrades to its business processes and core banking systems in the Asia Pacific region using technologies from Cognizant and Temenos.
The modernisation project, part of the bank’s comprehensive digital transformation strategy, involved the implementation of the Temenos T24 core banking platform and the Cognizant Banking and Financial Services Amplify solution.
A Cognizant Digital Systems & Technology practice team was engaged with the project, which redesigned the bank’s core platforms, applications, business processes and customer interfaces.
Further, the project is expected to enable the bank expand its wealth management product portfolio.
Cognizant Asia Pacific head Jayajyoti Sengupta said: “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.
“By reimagining the technology and processes for Bank Julius Baer, we were able to implement a wholly transformative solution spanning back-end processes to customer experience that lays the foundation for growth.”
Julius Baer selected Temenos as its global partner for the modernisation project in 2015. Earlier this year, the bank went live with the Temenos WealthSuite at its businesses in Hong Kong and Singapore.
Julius Baer COO and executive board member Nic Dreckmann said: “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.
“Our shift to more digital engagements, coupled with increasing regulatory reporting obligations, is driving our biggest ever digital transformation programme.”