Latin American banking group, Itaú Unibanco Holding SA, has selected WealthSuite, a platform by Temenos, for its international private banking operations.
The wealth management software firm’s solution combines Itaú’s core banking, portfolio management, channels and analytics functions in a single wealth management platform. The bank is to deploy WealthSuite in the cloud enabling the solution to scale in an ‘agile’ manner.
In addition, the new system will allow the bank to scale to meet future demand at a reduced cost of ownership, and decrease time to market for new innovative products and services, and provide Itaú’s clients with a seamless digital customer experience.
Itaú’s chief executive of US and head of international private banking, Carlos Constantini, 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.”
Itaú Unibanco offers a range of retail, corporate, investment banking and asset management services for clients worldwide. It was born from a merger between Itaú and Unibanco in 2008.
Wealthsuite assists banks to reach different client audiences with personalised investment advice. The platform allows for significant levels of automation and streamlines business processes, offering enhanced customer service through faster report times and portfolio management capabilities.