Bank of Montreal Asia Pacific recently announced that it will be replacing their existing legacy back office settlement and accounting system with Temenos' core banking solution.
Bank of Montreal Asia Pacific provides wealth management services to over 1,000 high net worth clients in Singapore and Hong Kong.
Since the bank is an existing user of Temenos' systems for channels and client and portfolio management, it stands to gain from having an integrated, front to back solution by implementing Temenos' core banking system.
Known as WealthSuite, the end-to-end system will "significantly improve levels of customer fulfilment while also lowering overall IT costs via higher automation and lower maintenance spending", according to Temenos.
"This deal with Bank of Montreal is testament to Temenos' ability to equip private banks with the right tools to capitalise on Asia's wealth management industry potential and capture a growing market of mass affluent and high-net-worth individuals," said Martin Frick, Head of APAC region at Temenos.
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