Eurobank in Greece has selected Temenos Wealth to strengthen its position in wealth management and affluent segment services.

Eurobank, the third largest bank in Greece, will use Temenos Wealth to create a fully-digital investment portfolio management service offering Robo-Advisor and Goal-Based Investing apps to target the mass affluent and affluent market.

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These growing market segments want personalised offerings and are used to convenience through digital channels.

With the Temenos solution, Eurobank combines an efficient back-office and product-building engine with modern omnichannel customer experiences powered by AI to meet the segments’ high expectations.

The new Robo-Advisor app will allow Eurobank’s customers to create or adjust a desired portfolio, based on personalised criteria such as risk tolerance, target dates and asset size, by themselves or with an advisor.

Front-to-Back platform modernisation will be Implemented in two phases

The solution manages the investments automatically in line with the target allocation model.

Goal-Based Investing will enable Eurobank’s customers to define specific financial goals, such as a holiday home purchase or retirement, view simulation results illustrating how they can achieve those goals, and then put the investment plan into action.

Eurobank will implement Temenos Wealth in two phases. Firstly, to bring to market the new Robo-Advisor service.

Secondly, to deploy Temenos Wealth for all investment portfolio services, including execution, advisory and discretionary services for clients in Greece.

Concurrently, the bank will replace its middle and back-office systems with Temenos Transact, adopting Temenos’ Europe Model Bank approach that incorporates local functionality to accelerate implementation and MiFID compliance purposes.

Eurobank operates in six country

Temenos Wealth covers all the front-to-back needs of a modern wealth management firm, from digital wealth to CRM to portfolio management, securities and core processing, market data management, analytics, AI and more. Its modular design will enable Eurobank to implement the components they need.

Eurobank Group is a robust financial organisation that operates in six countries, with a strong presence in Greece, Cyprus, Luxembourg, Serbia, Bulgaria and the UK.

As of December 2020, the Group had 11.501 employees working across 625 customer service locations and managing €67.7bn in total assets.