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    TEMN   CH0012453913

TEMENOS AG

(TEMN)
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Temenos : Nordea Investment Funds Picks Temenos Multifonds to Scale its Business

11/23/2021 | 04:29am EST
News
Nordea Investment Funds Picks Temenos Multifonds to Scale its Business

The largest asset manager in the Nordics will implement Temenos Multifonds to administer €100+ bn in assets

Press Releases, November 23, 2021
Temenos - Company

GENEVA, Switzerland - NOVEMBER 23, 2021 - Temenos (SIX: TEMN), the banking software company, today announced Nordea Investment Funds SA, the largest asset manager in the Nordics, and part of the Nordea Group, has chosen Temenos Multifonds to transform its investor servicing activities in Luxembourg. Replacing existing on-premise systems with a modern technology solution in the cloud will enable the firm to scale and future-proof its operations. In Luxembourg, Nordea Investment Funds provides in-house administration for €100+ bn in AUM (Assets Under Management),

According to ALFI (Association of the Luxembourg Fund Industry), the Luxembourg market has continued to show strong AUM growth of over 20% in the last 12 months[i], despite global market volatility, making it an ideal market for Nordea Investment Funds to continue its growth strategy. Embracing new technology underpins the firm's ambitious growth plans and vision to be one of Europe's leading asset managers.

The collaboration with Temenos will enable Nordea Investment Funds to consolidate multiple systems on a single, cloud-native global platform, increasing efficiencies, reducing risk, and digitalizing operations and client interfacing. In particular, the firm can leverage a flexible retrocessions engine that can be customized to meet changing investor needs, with flexible accrual calculation and payment functionality, as well as fully integrated SWIFT connectivity to send and receive messages directly.

With Temenos' cloud capabilities and a sophisticated API framework, Nordea Investment Funds will be able to scale efficiently, with agility and flexibility, to cater to the needs of the asset management industry now, and into the future.

Nordea Investment Funds will use the Temenos migration tool and benefit from its expertise serving 9 of the top 15 transfer agents in Luxembourg to deliver a rapid implementation and time to value.

Markku Kotisalo, Head of Fund Administration, Nordea Investment Funds, said:

"At Nordea Investment Funds, we are committed to our clients' success with services and solutions that adapt to their evolving needs. Improving our technology infrastructure with key partners such as Temenos is core to this strategy. Temenos open technology, built on cloud-native components, will allow us to bring new services to market faster to enhance the client experience and scale efficiently to support increased volumes. We look forward to our collaboration with Temenos on this important project."

Oded Weiss, Managing Director, Temenos Multifonds, commented:

"We are proud to support Nordea Investment Funds in transforming its transfer agency capabilities in Luxembourg. They share our belief in the power of open technology and the cloud to unlock innovation and drive growth. With Temenos, Nordea is future-ready to continue to enhance client service and scale efficiently for the digital era."

Temenos Press Contacts

Jessica Wolfe & Scott Rowe

Temenos Global Public Relations

+1 610 232 2793 / +44 20 7423 3857

Alistair Kellie & Andrew Adie

Newgate Communications for Temenos

+44 20 7680 6550

[i]https://www.alfi.lu/en-GB/Pages/Industry-statistics/Luxembourg

Disclaimer

Temenos AG published this content on 23 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 November 2021 09:28:02 UTC.


© Publicnow 2021
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Net income 2021 191 M - -
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