Swiss bank Vontobel and Frankfurt-based technology services provider T-Systems have launched a joint securities processing platform targeted at banks with operations in Switzerland and Liechtenstein.Vontobel, which currently manages 320,000 customer accounts for Raiffeisen in Switzerland on its Avaloq software platform and also processes all securities transactions for Raiffeisen customers, will use the new service to offer securities processing services to other banks in Switzerland and Liechtenstein. T-Systems will operate the IT infrastructure and manage the application.
The service is targeted at wealth management and private banking networks. “As a bank specialising in wealth and asset management, we are ideally placed to make our tried-and-tested securities platform available to other banks in future," said Herbert Scheidt, chief executive of the Vontobel Group. "The expansion of our competencies in taking on parts of the value chain in the securities business will generate valuable benefits for our client banks.”
More on Technology
Result comes despite tougher rules on market manipulation and abuse
Focus needs to be on reacting, not stopping every threat
Companies can wring more value from regulation-mandated data
Risk's annual round-up of new software developments
Sign up for Risk.net email alerts
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
Nominated for two technology awards
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.