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Stock impact report

Julius Baer to replace Swiss IT system with Temenos product, sources say [Yahoo! Finance]

JULIUS BAER GRP UNSP/ADR (JBAXY) 
NASDAQ:AMEX Investor Relations: juliusbaer.com/group/en/investors
Company Research Source: Yahoo! Finance
core banking system in the Swiss home market,? four people familiar with the matter said, in a quest by ?the bank to update critical infrastructure amid mounting regulatory requirements. CEO Stefan Bollinger announced in June the bank had ?set up a new digital business transformation function and initiated a project to modernise its IT infrastructure in Switzerland, without revealing the name of the supplier. "It has to be done, and I want to do a substantial proportion in the current strategic ?cycle," Bollinger said, ?referring to the cycle ending in 2028 and citing more regulatory demands as one of the drivers. The bank is aligning its Swiss systems ?with Temenos' T24 product which Julius Baer already uses in Singapore and Luxembourg, two of the sources said. Julius Baer is also adding a Temenos wealth management interface for relationship managers ?and high-net-worth clients, according to one of the sources. The bank declined ?to comment on the choice of Temenos and indi Show less Read more
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