Digital Digest: The Latest Tech News - Avaloq, Schroders, Others

Editorial Staff, 25 May 2018


The latest news on digital product and service offerings in wealth management.

Avaloq’s banking suite has been adopted by Deutsche Bank Luxembourg. The move means the bank can migrate to a new, single cash ledger for a variety of businesses.

Deutsche Bank Luxembourg and affiliates of Deutsche Bank in Luxembourg decided to operate from one cash ledger for all of its businesses offering consistency and efficiency gains. Relevant banking divisions and entities active in the Grand Duchy migrated from its legacy core banking system in one move to the Avaloq IT platform.

Banking and financial technology firm Temenos has launched its front office suite, using the same platform as the Swiss firm’s T24 Core Banking software. The firm said more than 300 clients run Temenos’ front office software including Banque Raiffeisen, Metro Bank, MyState and KBC.  A recent client is Sampath Bank, the third largest private bank in Sri Lanka.

Banks can implement the Temenos Front Office Suite as an independent solution or as part of a full front-to-back progressive renovation programme, it said. The Suite is available on premise and as well as software as a service on Temenos Cloud.

Schroders has launched MoneyLens, a new website aimed at helping millennials, those born in the 1980s and 1990s, to engage more with their finances and learn how to manage their money.

The firm said that according research from its global investor study, around 94 per cent of Millennials, said that they wanted to improve their investment knowledge compared to 85 per cent for older generations.

This new website is looking to reach out Millennial age group, who are looking to know where to start when it comes to investing.

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