Nippon Wealth Limited (NWB), a newly established financial institution and restricted license bank, has deployed Temonos’ core banking solution, T24.

The rollout is expected to enable NWB to capitalize on the growing demand for wealth management services and support the bank’s expansion plans in Japan and Asia. T24 is touted as a highly-scalable banking solution offering end-to-end processing within a single, centralized system.

The product enables streamlining and optimisation of transactions across deposits, bonds, mutual fund, insurance and loans, which aims to allow NWB to deliver a seamless banking services to its customers. T24 will also serve as a bank-wide general ledger, and facilitate NWB’s compliance and reporting with regulatory bodies and industry institutions.

The bank is set to grow its current customer base to an expected 30,000 within the next five years, and Temenos’ core banking solution is expected to provide a competitive edge through continuously supporting NWB in providing enhanced customer services.

“Our operations in Hong Kong have taken off successfully after going live with T24. With the best infrastructure in place to deliver quality banking services to our clients, we are confident that our growth in the market will continue on its upward trajectory,” said Mr. Ryutaro Uehara, Chief Technology Officer of NWB.

“The wealth management industry holds incredible potential and Temenos’ solution will help NWB to capture key segments of this market,” said Martin Frick, Regional Director, Asia Pacific, Temenos.