Swiss challenger bank Alpian has selected Temenos, a banking software company, to power its digital private banking and wealth management services.

The banking software company will be providing Alpian its core banking software Temenos Transact as well as Temenos Payments software that will be delivered as a Software as a Service (SaaS).

Temenos’ SaaS technology will enable Alpian to rapidly launch its new bank and deliver innovative banking services, tailored to the mass affluent (those with investible assets of between CHF 100k to 1 million). According to Alpian, this is an untapped market of 2.6 million people in Switzerland with an estimated CHF 660 billion in assets.

Incubated by banking group REYL, Alpian plans to launch as a fully licensed bank in early 2021. Temenos SaaS combined with the underlying technologies of Temenos Transact and Temenos Payments will enable Alpian to bring new products to market faster and offer the personalised digital experiences that differentiates its service.

Alpian joins a series of digital banks across the globe such as Alba, Banco del Sol, Flowe, Lunar, Next Commercial Bank, Varo Bank and WeLab Bank, that have selected Temenos as its technology provider to help them.

Schuyler Weiss, Chief Executive Officer of Alpian commented,

“Alpian will introduce a new way for affluent clients to bank that is attuned to how they want to manage their wealth. Our approach is client-centric and driven by technology and innovation. With Temenos SaaS, we can focus our resources on delivering an exceptional service and experience for our customers. We have set an aggressive launch timeframe and the Temenos’ modern technology will enable us to achieve our goal and allow us the freedom to continue to innovate and differentiate our offering into the future.”

Max Chuard, Chief Executive Officer of Temenos added,

“We are delighted Alpian has selected Temenos to deliver its pioneering digital service. Temenos Transact and Temenos Payments, delivered as SaaS, will allow Alpian to reap the benefits of scalability, efficiency and an elastic cost structure. Alpian joins our growing community of the world’s most ambitious neobanks leveraging the power of Temenos SaaS to innovate and grow without the restriction of legacy technology. Alpian has identified a real gap in the market and its smart approach to technology will help it stay one step ahead of the competition.”