Schroders Private Banking has upgraded from Temenos Globus to Temenos T24 to centralise its IT infrastructure.
Temenos has installed T24, its modular core banking system, in Schroders’ new Private Banking Service Centre in Zurich to support the firm’s UK, Guernsey and Swiss private banking subsidiaries.
By replacing multiple legacy systems and minimising its system landscape, the bank has unified service levels across its subsidiaries, centralised its reporting and improved its operational performance, Temenos said in a statement.
“Rationalised back-office processes have become an ambition at most banks, but we’ve gone one step further by equipping our service centre with both multi-bank and multi-country capabilities,” says Heinz Scheiwiller, head of Schroders Private Banking Service Centre. “This is possible in part because of T24’s capacity to process a single hub with multiple, cross country and cross time-zone companies so that we’re running three banks from one platform.”