Openbank extends Temenos partnership with WealthSuite

Temenos (SIX: TEMN), the banking software company, today announced that Openbank, the digital bank of Santander Group, has selected Temenos’ WealthSuite for enhanced digital customer experience.  This will be integrated withTemenos T24 Core Banking, which Openbank chose last October as its new core banking solution for retail and SME banking across its global operations.

Openbank, which already has over one million customers today, will use Temenos technology to drive domestic and international expansion and support the group digital strategy. Openbank is one of the first fully fledged digital banks in the world, with its software, APIs and client transactions running in the cloud, offering a complete range of banking and investment products through its digital platform.

Temenos’ WealthSuite allows for a significantly enhanced client engagement through advisors or self-service digital execution. WealthSuite is integrated with Temenos T24 Core Banking solution, an upgradeable and scalable package built on an open banking architecture. Banks are able to utilize robust open APIs to operate collaborative business models, working with an ecosystem of third parties to add more value to their customers’ financial lives.

By adopting Temenos’ packaged software, Openbank will be able to gain a deeper understanding of their customers’ needs and be fastest to market with new personalized products and services at a very low Total Cost of Ownership (TCO).