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
Internal teams' concerns around data security hinders adoption, Sibos attendees told
Intraday liquidity reporting underpins rulebook created by the Liquidity Implementation Task Force to support BCBS compliance
'Ethical hacking' seeks to develop people as a point of a system's strength
Wipro's Sukant Paikray offers advice on how firms can better address the increasing demand for higher data quality
Sign up for Risk.net email alerts
Sanjay Sharma talks about risk transparency and how his book helps achieve it.
A five-minute formula from Alexander Denev that takes you through a simple probabilistic graphical model and explains how and why these are used. Find out more about the ground-breaking book, Probabilistic...
Industry leader Vincent Kaminski discusses the challenges faced by energy markets and his new book, Managing Energy Price Risk, 4th Edition.
Momtchil Pojarliev talks about his book, The Role of Currency in Institutional Portolios, currency investing and the potential role of currencies in institutional portfolios.
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.