WDX has announced a bumper rise in revenues, with more growth expected next year, as the software firm with focus on CRM systems in wealth management looks ahead to 2016.

WDX, the client relationship management software company working in the UK wealth management space, has announced a 115 per cent rise in revenues for the 12 months to end-September this year, reaching £5.4 million ($8.12 million), and expects further rapid growth in the year ahead. The firm intends to open a Singapore office in 2016 and expand further into the Swiss and Benelux regions.

The announcement of its financial performance comes WDX launches “WDX Insight”, a business intelligence module designed to bring wealth firms’ data mining and analytics capabilities.

WDX has continued to grow its team to more than 40 staff and has office locations in London, Luxembourg and the Baltics, and it plans to open an office in Singapore for 2016.

“I find it amazing that many wealth management firms still have only scratched the surface of what is possible with modern CRM and Digital technologies. Many firms are facing a demographic time bomb within their ageing client bases and have no real strategy of how to modernise the engagement models and business processes required to meet the needs of a demanding new generation of wealth,” Gary Linieres, chief executive of WDX.