Dutch banking giant goes live with Temenos’ award-winning WealthSuite
to achieve improved cost/income ratio and faster time to market with one
rationalized product menu across all countries

GENEVA–(BUSINESS WIRE)–Temenos (SIX: TEMN), the banking software company, today announced that
ABN AMRO has gone live with Temenos’ WealthSuite digital banking
platform, which will power the bank’s international operations for
private and corporate banking. The shift to a single shared digital
banking platform will allow ABN AMRO to reduce IT operational costs and
achieve an improved cost/ income ratio. The open digital banking
platform will future-proof ABN AMRO’s growth and enable the bank to
deliver innovative and personalized products and services faster to
market.

Belgium is the first international branch to go live with the Temenos
solution under ABN AMRO’s rollout plan, which will see the bank migrate
two additional countries on the new platform in the coming years.

ABN AMRO joins the growing list of top tier banks that have deployed
Temenos WealthSuite to transform their wealth management operations.
With Temenos WealthSuite, ABN AMRO will deploy an end-to-end, highly
scalable and configurable platform that will allow the bank to benefit
from considerable efficiency gains. This will be achieved by automating
and simplifying processes and streamlining IT and business operations.

Cognizant, a global Temenos partner, has been providing consulting and
system integration services for the project. By using a single core
banking system, the bank can now launch a new corporate bank within nine
month, as recently seen in Australia.

ABN AMRO has been a pioneer in digital banking and a Temenos client for
over a decade. Temenos and ABN AMRO have a proven record of
co-innovation. ABN AMRO implemented Temenos T24 Core Banking platform –
the forerunner to Temenos T24 Transact – to transform its corporate
banking activities in 2009 and serve the needs of its international
business in nine countries. ABN AMRO also uses Temenos Payments. The
bank recently selected
the Temenos Continuous Deployment product to speed up its software
delivery and rapidly launch new innovations.

Friso Westra, Head of IT Development Core Banking International of
ABN AMRO said: “We selected Temenos as our technology partner to
future-proof the ongoing growth of our private bank. Working closely
with Temenos and our implementation partner, Cognizant we experienced a
smooth go-live. I am excited as this is a big step for ABN AMRO in
harmonizing our IT infrastructure and speeding up digitization. We run
our corporate and part of our private banking operations now from one
single digital platform. We expect IT costs savings and efficiencies
from the standardization of processes and products. With Temenos
WealthSuite we are confident of achieving our ambition in offering the
most innovative wealth management products and services in the industry.”

Max Chuard, Chief Executive Officer, stated: “We are proud to
support ABN AMRO, one of the largest and most innovative banks in
Europe, with its digital transformation journey. ABN AMRO will have a
single, state- of- the- art banking platform and benefit from massive
economies of scale, reduced IT operational costs and personalized
customer experience. The platform will support traditional and digitized
interactions, process automation and standardization of products, which
means faster time to market and increased business agility. Our
cloud-native, cloud-agnostic and advanced open API software enables ABN
AMRO to drastically reduce transformation time and cost.”

Santosh Thomas, President, Global Growth Markets, Cognizant, said:
“We are excited to be working on ABN AMRO’s digital transformation
project with Temenos, a long-standing strategic partner. The digital
banking platform, based on Temenos software, will enable ABN AMRO to
streamline processes across its corporate and private banking business,
benefit from cost efficiencies in IT and business operations and serve
customers in a faster, more cost effective way.”

Temenos WealthSuite provides multi-channel, 24/7 real-time capability to
support wealth managers in delivering superior service to clients, while
allowing advisors to automate time-consuming compliance and back-office
functions. WealthSuite currently helps advisors manage $12trillion
assets under management.

– Ends –

About ABN AMRO
ABN AMRO is a Dutch bank for retail,
corporate and private banking clients. We are a relationship-driven,
knowledgeable and digitally savvy bank, active in Northwest Europe and
with expertise in selected sectors globally. Our purpose is Banking for
better, for generations to come. Headquartered in Amsterdam, ABN AMRO
employs around 19,000 people worldwide.

Please visit us at www.abnamro.com

About Temenos
Temenos AG (SIX: TEMN), headquartered in
Geneva, is the world’s leader in banking software, partnering with banks
and other financial institutions to transform their businesses and stay
ahead of a changing marketplace. Over 3,000 firms 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 front
office and core banking, payments, fund management and wealth management
software products enabling banks to deliver both consistent,
frictionless customer journeys and gain operational excellence. Temenos
customers are proven to be more profitable than their peers: over a
seven-year period, they enjoyed on average a 31% higher return on
assets, a 36% higher return on equity and an 8.6 percentage point lower
cost/income ratio than banks running legacy applications. For more
information please visit www.temenos.com.

Contacts

Jessica Wolfe
Temenos Global Public Relations
Tel: +1
610 232 2793
Email : press@temenos.com

Alistair Kellie & Andrew Adie
Newgate Communications on
behalf of Temenos
Tel: +44 20 7680 6550
Email: allnewgatetemenos@newgatecomms.com