Sun, Dec 22 2024
Temenos (SIX: TEMN) announced today that one of the biggest banks in the Philippines, Metropolitan Bank & Trust Co. (Metrobank), has teamed up with Temenos and Collaboration Betters the World (CBTW) to implement Temenos Wealth. This move solidifies the bank's leading position in the fiercely competitive wealth management sector.
This action strengthens Metrobank's position as High Net Worth and Ultra High Net Worth clients' go-to partner. Recognized as the best in class, Metrobank is known for its dynamic and all-encompassing approach to wealth management. It was recently named the Best Bank for the Ultra-High-Net-Worthy clients and awarded by Asiamoney as the 2023 Best Domestic Private Bank in the Philippines for the second year in a row.
Metrobank may access the most recent Temenos digital banking features through Temenos Wealth, including goal-based planning, robo-advisory, digital onboarding, and wealth analytics with integrated responsible AI. Temenos' cutting-edge technology platform and highly extensible, API-driven design enable Metrobank to effortlessly extend and integrate the solution with both third-party and current applications, lowering costs and enhancing business agility.
Built with advisors and portfolio managers in mind, Temenos Wealth provides Metrobank with a centralized view of critical customer data and will enable portfolio management at scale, boosting efficiency through automation of investments, order creation, and compliance checks. For client-facing units, this can involve, for instance, enforcing automated workflows to guarantee that appropriate controls are followed and recorded as part of an audit trail.
Temenos Delivery Partner, CBTW, an international firm that develops and provides tech and business solutions, will execute the Temenos solution. One well-known company on a global scale in the wealth management industry is Temenos.
Metrobank's Financial Markets Sector Head, Fernand Antonio Tansingco, stated: "We are thrilled to work with Temenos and implement their technology to enhance our wealth management offering. As a bank that takes pleasure in assisting our clients in protecting their wealth so they can leave enduring legacies for their families as well as themselves, we are constantly looking for creative ways to improve the service we offer to our clients. We can keep offering our clients a highly individualized service now that Temenos is on board.
Temenos' managing director for Asia-Pacific, Ramki Ramakrishnan, stated: "We are pleased to have Metrobank as a significant client in the Philippines and to assist them in digitally transforming their wealth management operations. Temenos Wealth is the de facto software solution for the private wealth management market, with clients that include some of the biggest international financial institutions as well as boutique businesses. We are dedicated to assisting Metrobank in its continued expansion, and we have strong solutions and a strong presence in the Philippines.”
"With extensive experience in implementing the Temenos solutions since 2012, a collaborative ethos, and a highly skilled software engineering team, CBTW is honored to stand as Metrobank's preferred partner in driving their digital transformation through the implementation of Temenos Wealth," stated Pieter van Diermen, CEO APAC, Collaboration Betters The World (CBTW). CBTW, which has a long history in Manila, the Philippines, and the APAC area, is committed to providing top-notch services to support Metrobank in their goal of giving consumers the best possible banking experience and ensuring they are in good hands.
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