Mirabaud selects Temenos and Wealth Dynamix for digital transformation

Swiss multinational banking group Mirabaud has selected Temenos and Wealth Dynamix to drive its digital transformation programme as the firm looks to move its on-premise wealth management platform to the cloud.

Mirabaud will deploy Temenos Banking Cloud

The end-to-end digital platform will utilise Software-as-a-Service (SaaS) offerings from both firms. Mirabaud will deploy Temenos Banking Cloud and Wealth Dynamix’s Client Lifecycle Management (CLM) solution, CLMi.

With new regulations and the rise of new asset classes such as digital assets, Mirabaud says the switch to Temenos Banking Cloud will give the group the ability to adapt quickly to changing investment opportunities and client expectations.

Mirabaud will leverage the full suite of Temenos’ wealth banking capabilities, including its self-service channels and personalised wealth and portfolio management, payments, financial crime prevention and data lake solutions.

Temenos CEO Max Chuard says: “The private wealth management industry is changing rapidly and traditional business models must adapt to meet today’s client expectations.

“Temenos’ cloud platform means wealth management firms can gain quicker time to market, massive scalability, and higher security.”

Wealth Dynamix CEO and co-founder Gary Linieres says the implementation of CLMi will enable Mirabaud to deliver digitised client journeys from early stage engagement and client onboarding to day-to-day relationship management.

Mirabaud hopes the move will enhance the productivity of relationship managers as well as operations and compliance specialists.

The firm aims to start moving its front and back-office operations to the cloud in Q2 this year, with the full digital transformation programme set to take several years to fully implement.

Garanti BBVA International recently announced it is also moving to the cloud and will deploy the Temenos Banking Cloud solution to power its retail and corporate banking services in the Netherlands and Germany.