Banco Itaú International picks Temenos Infinity to revamp wealth management
The Swiss and International operations of private banking group Itaú Unibanco has signed extended deals with Temenos to deploy the latter’s Infinity Wealth and Transact systems.
Banco Itaú International is deploying Temenos Infinity Wealth, a front-to-back offering which Temenos claims will revamp the bank’s processing and portfolio management.
Temenos’ cloud-based Transact will be installed at Itaú’s private banking operations in Switzerland and the U.S.
The Swiss technology vendor says the move will “drastically reduce the bank’s time-to-market, IT costs and operational complexity.”
Itaú Unibanco has operations in 19 countries throughout the Americas, Europe and Asia. Temenos has been a partner of Itaú’s since 2017.
“Investing in technology that can drive sustainable profitability, efficiency and client centricity is a key pillar of Itaú Private Bank International’s business strategy,” says Itaú Private Bank International head, Fernando Beyruti.
“With Temenos’ advanced, cloud-native technology, we will keep our attention and focus on the business. The rapid launch of our new, truly universal digital wealth platform supports our international operations and enables us to scale for global expansion in years to come.”
Banco Itaú Unibanco was formed from the November 2008 merger of Brazilian lenders Banco Itaú and Unibanco.
The group is the tenth largest bank in the world by market value, and holds around $402 billion in total assets.
“Temenos’ Software-as-a-Service (SaaS) will provide Itaú Private Bank International with cost and scalability benefits, high security and availability,” claims Max Chuard, CEO at the vendor.