Philippines-based Metropolitan Bank & Trust (Metrobank) has selected Swiss banking software provider Temenos to transform its wealth management business.
The partnership with Temenos and Collaboration Betters the World (CBTW) will enable Metrobank to deploy Temenos Wealth, an end-to-end wealth management solution. It is expected to solidify the bank’s position in the highly competitive wealth management sector.
Besides, Temenos Wealth will provide Metrobank with access to the latest digital banking capabilities of Temenos.
These include wealth analytics with embedded responsible artificial intelligence (AI), digital onboarding capabilities, and self-service functionality such as robo-advisory and goal-based planning.
Metrobank financial markets sector head Fernand Antonio Tansingco said: “As a Bank that prides itself in helping our clients preserve their wealth to build lasting legacies not just for themselves, but also their families, we are always in search for innovative solutions that will allow us to provide a better experience for our clients.
“With Temenos onboard, we can continue to provide a highly personalised service to our customers.”
The Philippines-based bank will also gain from Temenos’ advanced technology platform and composable application programming interface (API)-driven architecture to easily extend and integrate the solution with existing and third-party applications.
Temenos’ new offerings will help Metrobank to lower costs and risks apart from increasing business agility.
Furthermore, Temenos Wealth will offer Metrobank a central view of key client information and drive portfolio management at scale with increased productivity. These will be made possible by automating investments, order generation, and compliance checks.
The Temenos solution will be implemented by CBTW, which is a delivery partner of Temenos.
Temenos Asia Pacific managing director Ramki Ramakrishnan said: “With clients among the largest global financial institutions and boutique firms, Temenos Wealth is the de facto software solution for the private wealth management industry.
“With proven solutions and a robust presence in the Philippines we are committed to support Metrobank and its future growth.”