Geneva – 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.” (Temenos/mc/ps)