The Swiss firm's core banking platform is being put into action by a new Asian wealth management player.

Swiss-listed financial technology firm Temenos has launched its T24 core banking solution for Nippon Wealth, a newly-launched institution defined as a “restricted licence bank”.

Use of the solution will enable Nippon Wealth to support its expansion plans in Japan and Asia more broadly, Temenos said in a statement. T24 enables streamlining and optimisation of transactions across deposits, bonds, mutual funds, insurance and loans. T24 will also serve as a bank-wide general ledger and allow the firm to comply with regulations and report to regulatory authorities and other institutions.

The bank is targeting clients investing at least HK$1 million (around $129,000); Nippon Wealth aims to grow its customer base to an expected 30,000 within the next five years.
 
“Our operations in Hong Kong have taken off successfully after going live with T24. With the best infrastructure in place to deliver quality banking services to our clients, we are confident that our growth in the market will continue on its upward trajectory,” said Ryutaro Uehara, chief technology officer of Nippon Wealth.

Temenos Group is headquartered in Geneva and serves more than 2,000 firms worldwide. Nippon Wealth, based in Hong Kong, is a wholly-owned subsidiary of OJBC Co and an associate of Shinsei Bank.