Deutsche Bank has signed a contract with TEMENOS Group to globally implement the TEMENOS T24 in its private wealth management business.
The deal is the largest ever for the vendor. “We have been committed to establishing a unique business model for demanding private and selected institutional clients and to focus on top quality service propositions,” says Pierre de Weck, global head of private wealth management at Deutsche Bank and a member of the bank’s group executive committee. “At the same time, we are operating in one of the fastest growing businesses in the financial sector. The new state-of-the-art IT platform will enable further profitable business growth, reduced time-to-market for new and innovative product solutions and an increased operational efficiency – all to benefit our clients.”
“Deutsche Bank is one of the leading players in the wealth management area,” says Andreas Andreades, CEO of TEMENOS. “Choosing TEMENOS as the vendor for PWM’s new IT platform is an enormous vote of confidence in our company and our product. TEMENOS T24’s fully-integrated architecture offers a significant cost advantage compared to other competing products. We are confident that TEMENOS T24 will provide the basis and support for ongoing strong growth of the private wealth management business for years to come.”