Temenos, a banking pioneer that offers a wide array of banking solutions has now come up with a platform for wealth managers and banks. ESG Investing-as-a-Service is the latest launch of Temenos at Temenos Community Forum in London to 1,500 FinTech and banking executives and will help financial institutions at many points.
The time-to-market (the length of time from the conception of a product until it is released to the market) for ESG compliant products and reporting speeds up, and in the meantime development cost is also truncated when this platform runs on Temenos Banking Cloud or other cloud infrastructures. ESG Investing-as-a-service merges external data feeds collected from multiple providers with digital capabilities, Temenos front office, and market data management so that it can offer services at full length.
Alexandre Duret, Product Director – Wealth, Temenos, commented, “At Temenos, our purpose is to power a world of banking that creates opportunities for everyone. With the new ESG Investing service, we will help private banks and wealth managers to become compliant and their customers invest with a purpose. Available as a service on our open platform for composable banking, it provides a fast track for our banking clients to launch innovative ESG investment products underpinned by robust, compliant processes, including new MiFID rules applicable in the EU from August 2022.”
ESG investing, also known as impact investing offers a variety of prospects for wealth managers and banking institutions as it brings growth and helps meet consumers’ complex ESG requirements. This is a kind of investing done based on the commitment to one or more ESG factors.
Marc Vanvilthoven, Product Owner and Customer Journey Expert Investments, ING, stated, “We have a long-lasting partnership with Temenos and its wealth management solution allows us to deliver to our private banking customers advisory and discretionary management services. At ING, we always want to deliver world-class services to our clients. Temenos ESG Investing can accelerate time-to-market for ESG compliant products while reducing the cost of development and adopting standard features.”