Latin America’a largest banking group Itaú Unibanco Holding has selected Temenos’ WealthSuite for its international private banking operations.

The solution combines Itaú’s core banking, portfolio management, channels and analytics functions in a single wealth management platform. The bank will deploy WealthSuite in the cloud enabling the solution to scale in an agile manner according to the ongoing evolution of its business.

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Temenos’ WealthSuite will be implemented in “a big bang approach”, allowing the business to benefit from the new technology in the quickest timeframe. Tememos said the new system will allow the bank to scale to meet future demand at a reduced total cost of ownership (TCO).

Carlos Constantini, CEO of U.S. and head of international private banking at Itaú, commented:

“Investing in technology and the digital transformation of Itaú is crucial in order to meet clients’ needs and create lasting value. Itaú’s international Private Bank selected a technology platform that will enrich the customer experience, reduce time to market for new products, generate efficiencies and reinforce thesegments’ digital strategy.

“Temenos’ WealthSuite solution will allow key international offices to automate front, middle and back office functions. Equally important, the new technology platform will make the business better prepared for the exponential evolution of technological cycles.”

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Jean Michel-Hilsenkopf, Managing Director Temenos Sales, stated: “As a full front-to back integrated and digital platform, WealthSuite will help Itaú generate efficiencies and differentiate its customer proposition, while implementing in the cloud will reduce the bank’s total cost of ownership.”