Temenos, the banking software firm, has showcased the latest
version of its WealthManager platform, which now features new standard interfaces with
leading US back-office system providers, among other developments.  

WealthManager combines portfolio and
client data through interfaces with back-office systems, broker, custodian and
external services. As financial pressures force banks to reduce
the cost of ownership and maintenance, as well as lowering implementation time, WealthManager will now offer “out-of-the-box” reports
for portfolio valuation, investment performance and investment policy
statements.

“Today, banks need improved efficiency and agility to adapt quickly to changing market demands. In response, we have improved the packaging of WealthManager by adding more detailed documentation and pre-defined configurations for faster implementation, configuration and maintenance and a lower total cost of ownership,” said Jean-Michel Hilsenkopf, managing director of Temenos.

Further improvements centre on portfolio analysis, performance calculation, proposal generation and client management, in addition to enhancements for cleaning and mapping multiple sources to a “single, client-centric view.”

"Enhanced packaging of business functionality and processes gives customers choice, enabling them to rapidly exploit the benefits of flexible, modern and functionally rich solutions for a superior, value added service,” Hilsenkopf said.

“During the last few years,
governments have introduced many new regulations to protect consumers and
regulate cross-border activities. These place large administrative overheads on
wealth management firms and are driving investment in new technology to
automate client on-boarding so regulatory requirements are applied in an automated,
more efficient manner,” said Isabella Fonseca, research director at Celent.