Alpian Selects Temenos SaaS to Launch Pioneering New Digital Bank and Take Swiss Private Banking Experience to the Mass Affluent
- Alpian will offer digital private banking and wealth management services, combined with human expertise, to tap into CHF 660bn private banking opportunity
- With Temenos SaaS, the new Swiss digital bank will achieve rapid time-to-market and a hyper-efficient cost model to deliver scalable, personalized private banking via an easy-to-access app
- Temenos is the de facto technology provider for digital banks across the globe that want to innovate rapidly
15/12/2020 — GENEVA — (BUSINESS WIRE)
Temenos (SIX: TEMN), the banking software company, today announced that Alpian SA (“Alpian”) has selected Temenos Transact, core banking and Temenos Payments delivered as SaaS to power pioneering digital private banking and wealth management services in Switzerland. Temenos SaaS technology will enable Alpian to rapidly launch its new bank and deliver innovative banking services, tailored to the “mass affluent” (those with investible assets of between CHF 100k – 1 million). An untapped market of 2.6 million people in Switzerland, according to Alpian, with an estimated CHF 660 billion in assets.
Incubated by leading innovative banking group REYL, Alpian plans to launch as a fully licensed bank in early 2021. Temenos SaaS combined with the unique ability of the underlying technologies of Temenos Transact and Temenos Payments will enable Alpian to bring new products to market faster and offer the personalized digital experiences that differentiates its service.
Alpian aims to be the first bank to provide the stability, security and personal care of Swiss private banking to a wider spectrum of clients through an open and responsive state-of-the-art digital platform. The bank will offer tailored investment boutique products, secure digital face-to-face access to financial advisors, and simplified, transparent everyday banking services – all powered by Temenos technology.
Temenos Transact delivered as SaaS will enable Alpian to get to market faster, lower operational costs and benefit from increased ROE. Temenos Payments will reduce time-to-market for Alpian’s payment services and allow the bank to offer seamless and secure traditional and instant payments compliant with the latest IS20022 and PSD2 regulations.
With Temenos technology delivered as a subscription service, Alpian will be able to scale based on business demand and create a hyper-efficient cost structure to deliver more value to customers. It is estimated that banks running on Temenos’ modern technology stack can operate at 10 per cent of the cost compared to banks running on legacy systems. This will help Alpian to grow profitably while offering an exceptional service at a fair and transparent price.
A key new service within Temenos Transact will allow Alpian’s customers to access and manage their money using a single multi-currency bank account for Swiss Francs and Euros. Temenos Transact will help Alpian innovate and iterate products faster and expand the offering with access to over 700 open APIs, the largest FinTech ecosystem.
Temenos’ Swiss Model Bank provides localized, pre-configured banking functionality for Alpian to deploy the technology without customization. This helps to reduce development and accelerates time to market. Initially serving clients in Switzerland, Alpian plans to expand to other European countries and Temenos SaaS offers elastic scalability to support Alpian’s client growth plan and its international expansion.
Alpian joins a raft of digital banks across the globe such as Alba, Banco del Sol, Flowe, Lunar, Next Commercial Bank, Varo Bank and WeLab Bank, that have selected Temenos as the de facto technology provider to help them launch quickly and innovate at speed.
Schuyler Weiss, Chief Executive Officer, Alpian, commented: “Alpian will introduce a new way for affluent clients to bank that is attuned to how they want to manage their wealth. Our approach is client-centric and driven by technology and innovation. With Temenos SaaS, we can focus our resources on delivering an exceptional service and experience for our customers. We have set an aggressive launch timeframe and the Temenos’ modern technology will enable us to achieve our goal and allow us the freedom to continue to innovate and differentiate our offering into the future.”
Max Chuard, Chief Executive Officer, Temenos, added: “We are delighted Alpian has selected Temenos to deliver its pioneering digital service. Temenos Transact and Temenos Payments, delivered as SaaS, will allow Alpian to reap the benefits of scalability, efficiency and an elastic cost structure. Alpian joins our growing community of the world’s most ambitious neobanks leveraging the power of Temenos SaaS to innovate and grow without the restriction of legacy technology. Alpian has identified a real gap in the market and its smart approach to technology will help it stay one step ahead of the competition.”
– Ends –
Temenos AG (SIX: TEMN) is the world’s leader in banking software. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 500 million banking customers. Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence.
Temenos software is proven to enable its top-performing clients to achieve cost-income ratios of 26.8% half the industry average and returns on equity of 29%, three times the industry average. These clients also invest 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks’ IT investment is adding tangible value to their business.
For more information, please visit www.temenos.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201215005045/en/
Jessica Wolfe & Scott Rowe
Temenos Global Public Relations
Tel: +1 610 232 2793 & +44 20 7423 3857
Email : email@example.com
Alistair Kellie & Andrew Adie
Newgate Communications on behalf of Temenos
Tel: +44 20 7680 6550