Hong Kong, July 1, 2015 – Temenos (SIX: TEMN), the market-leading provider of mission-critical solutions to the financial services industry, today announced the successful launch and roll-out of Temenos’ core banking solution, T24, for a newly established financial institution, Nippon Wealth Limited, a Restricted Licence Bank (NWB or the bank). The implementation of T24 will enable NWB to capitalise on the growing demand for wealth management services and support the bank’s expansion plans in Japan and Asia.
As a highly-scalable banking solution offering end-to-end processing within a single, centralised system, T24 enables streamlining and optimisation of transactions across deposits, bonds, mutual fund, insurance and loans, allowing NWB to deliver a seamless banking services to its customers. T24 will also serve as a bank-wide general ledger, and facilitate NWB’s compliance and reporting with regulatory bodies and industry institutions.
In the span of a few weeks since the roll-out of T24 at the bank’s head office in Hong Kong, NWB commenced its banking operations smoothly, realised operational efficiency and established credibility in the eyes of its target customers who are expected to invest more than 1 million HKD. The bank is also set to grow its current customer base to an expected 30,000 within the next five years, and Temenos’ core banking solution will provide a competitive edge through continuously supporting NWB in providing enhanced customer services.
“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 Mr. Ryutaro Uehara, Chief Technology Officer of NWB. “We are pleased to partner with an industry leader like Temenos and deliver results within a short time period. We look forward to achieving greater heights and strong growth in this strategic market with T24.”
“We are delighted to be a part of NWB’s milestone in Hong Kong and proud to be supporting our customer in realising their business goals through the implementation of our award-winning T24 core banking solution,” said Martin Frick, Regional Director, Asia Pacific, Temenos. “The wealth management industry holds incredible potential and Temenos’ solution will help NWB to capture key segments of this market. We will continue investing in and delivering innovative, high-quality solutions and services to empower our customers to thrive in the region.”
About Nippon Wealth Limited, a Restricted Licence Bank (NWB)
Nippon Wealth Limited is a Hong Kong based restricted licence bank dedicated to providing superior wealth management services for individual investors. Nippon Wealth Limited is a wholly-owned subsidiary of OJBC Co. Ltd. and an associate of Shinsei Bank. In terms of Tier-1 capital, Shinsei Bank is ranked 12th in Japan . In order to provide customers with more comprehensive wealth management services, Nippon Wealth Limited plans to acquire Type 1 and Type 4 license from the Securities and Futures Commission.
For more information, please visit www.nipponwealth.com.