Cognizant announced a successful modernized implementation of business processes and core banking systems for Bank Julius Baer in its Asia Pacific region as part of a comprehensive digital transformation.
Utilizing the industry leading Temenos T24 core banking software platform and the Cognizant Banking and Financial Services Amplify solution for core modernization, experts from the Cognizant Digital Systems & Technology practice were part of the redesign of Bank Julius Baer’s core systems, applications, business processes and customer interfaces to automate and simplify transactions and modernize operations.
A modern digital infrastructure also enables Bank Julius Baer to more quickly expand its range of sophisticated and customized wealth management products and services while improving operational agility. Following the initial implementation in the Asia Pacific region, the platform has also been deployed in other regions of the world.
“We are witnessing a fundamental shift in how our customers prefer to engage with us and are deploying a business and technology infrastructure that will allow us to provide a superior experience,” said Nic Dreckmann, Chief Operating Officer and Member of the Executive Board, Julius Baer. “Our shift to more digital engagements, coupled with increasing regulatory reporting obligations, is driving our biggest ever digital transformation program. Cognizant's robust global financial services and digital expertise has enabled us to make our vision a reality. Cognizant was part of the team to successfully complete the entire implementation and get us onto a new digital core banking platform.”
“Today’s rapidly changing banking environment requires a modern IT infrastructure in order for them to be more agile, compete and seize the business benefits that digital technologies like advanced analytics and AI enables,” said Jayajyoti Sengupta, Head, Asia Pacific, Cognizant. “By reimagining the technology and processes for Bank Julius Baer, we were able to implement a wholly transformative solution spanning back-end processes to customer experience that lays the foundation for growth.”