Banque Internationale à Luxembourg (BIL) is launching BILNet Wealth Services to support its Independent Financial Advisory (IFA) business. The new platform is powered by Triple’A Plus from Temenos. BILNet Wealth Services will provide IFAs with secure, fast portfolio access and real-time tools so they can attract new customers and create more business opportunities.

Eric Vandemoortele, head of IFA services, BIL, comments: “The independent advisory market is developing markedly throughout Europe. In Switzerland 18 per cent of the private banking assets are managed by IFAs. In Luxembourg currently six per cent of the assets are under an IFA mandate but the volume is expected to grow to at least 10 per cent in the coming four or five years. With BILNet Wealth Services we have implemented a dedicated tool for IFAs, providing them with fast access and efficient tools so they can attract new customers and create more business opportunities to increase their share of wallet.”

“Temenos has been a strong, reliable and knowledgeable partner throughout the implementation process and we delivered business benefits to our users in less than six months. In the next step we are planning to integrate non-financial assets into the system to give our IFAs a true aggregated view of all client assets, enabling them to better evaluate investment risks and further enhance their level of service,” he adds.

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