FlowBank has selected Temenos Transact delivered as SaaS to power its new digital bank in Switzerland.
Temenos Transact core banking technology will enable FlowBank to launch and offer a new investing experience to private and institutional investors in Switzerland and internationally. The bank secured its banking license in July 2020 and is planning to launch the operations by the end of 2020.
The bank aims to meet the needs of investors, who wish to manage their banking and investments on their own. The bank addresses this market segment by offering an investment experience open to all, using a trading platform underpinned by Temenos Transact. The bank is FINMA-regulated and deposits are guaranteed up to CHF 100,000.
A product feature within Temenos Transact will allow Flowbank’s customers to trade from a single multi-currency bank account and access more than 50 financial markets. Based on this functionality, the bank will be able to launch personalised products.
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