Temenos, a SIX-listed banking software company, announced on Tuesday that it launched ESG Investing-as-a-service, targeting banks and wealth managers. According to the press release, the offering was unveiled to 1,500 banking and fintech executives at Temenos Community Forum in London.
The service runs on Temenos Banking Cloud, on any cloud or on-premise, allowing time-to-market for ESG compliant products and reporting while reducing development costs. Temenos front office, market data management and digital capabilities are combined with external data feeds from multiple providers, including filtering, scoring and modelling techniques.
“At Temenos, our purpose is to power a world of banking that creates opportunities for everyone. With the new ESG Investing service, we will help private banks and wealth managers to become compliant, and their customers invest with a purpose. Available as a service on our open platform for composable banking, it provides a fast track for our banking clients to launch innovative ESG investment products underpinned by robust, compliant processes, including new MiFID rules applicable in the EU from August 2022,” Alexandre Duret, the Product Director in the Wealth Department at Temenos, commented.
What Is an ESG Investment?
An ESG investment is a method of investing in companies that adhere to one or more important ESG factors, such as social responsibility, sustainability and environmental impact. This presents an opportunity for banks and wealth management firms to drive growth and differentiate to meet their clients’ increasingly complex ESG requirements.
Marc Vanvilthoven, the Product Owner and Customer Journey Expert Investments at ING, added: “We have a long-lasting partnership with Temenos, and its wealth management solution allows us to deliver to our private banking customers advisory and discretionary management services. At ING, we always want to deliver world-class services to our clients. Temenos ESG Investing can accelerate time-to-market for ESG compliant products while reducing the cost of development and adopting standard features.”
Recently, the Swiss firm launched Temenos CEO Navigator, a subscription-based customer value benchmarking and advisory service.
