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Profile Software eNewsletter Winter 2013

Paperless wealth management operations

What are the benefits?

According to Aite Group's senior analyst  Ms. Sophie Louvel Schmitt “Banks that fail to migrate paper-based onboarding processes to Web and mobile platforms will be left behind in their efforts to improve the client experience, reduce costs, and meet regulatory requirements”  this is something that appeared in the beginning of the year report.

Approaching the year end, financial institutions are still a bit reluctant in adopting new technologies only because it might imply a hidden cost in manpower as well as software. However, if one measures and evaluates the cost of not utilizing modern technology tools, can easily appreciate the cost efficiency they can provide. Paper-less reporting (i.e. mobile or web based) to inform and update the customer not only enhances clients' experience but most importantly adds to productivity increase.

By enabling clients to have instant access to their portfolios, accounts and transactions, the system offers an added bonus to the customer service provided whilst allowing the firm to meet its business objectives. 

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Shift in banking preference dynamics?

Are banking organisations in Europe changing shape?

The changes in customer dynamics and the digitization requirements act as the key major forces on determining technology decision in the financial services sector. The preferences of generation Y and generation Z are challenges that will define the banking operations as we know them. As the security concerns, in the modern era, have greatly been  addressed, the modern bank customer requires a service that will ensure fast and instant access to his accounts with constant updates and the option to perform online/mobile banking, much more frequently, even at a kiosk.

Banking corporations are re-examining their processes to be able to accommodate such requests. New types of financing institutions emerging in the US, North Europe and Asia, such as Peer-to-peer lenders, create further competition in the industry. All these trends, although still at their birth will soon need to be considered as the new approach to banking.

Whenever there is a need to accommodate new trends, technology is usually at the forefront that will have to address these challenges and turn them to opportunities for the institution. Many might be concerned that changing or upgrading a banking system would be a huge project that would need major resource drain or major change. However, that is not always the case; Profile Software’s banking platform with its modular architecture and recent major upgrade, can accommodate departmental needs as well as a huge rebuilds, depending on the bank’s size. The platform can equally be used by a small start-up bank to an established banking institution depending on the set requirements.

Appreciating the importance of offering competitive customer service, has in-built modules and solutions to accommodate specific requirements with seamless integration to existing legacy systems. Such solutions could range from a Private Bank’s or an Islamic Bank’s core system, to a collection’s process of financing’s department providing modular approach to their operation.

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Mobile wealth management that integrates with any 3rd party system

Turn your operations mobile!

Profile Software is presenting the new release of IMSplus Mobility application which enables wealth management organisations to use a natively developed, modern mobile application with any 3rd party investment management platform.

IMSplus Mobility enables investment professionals and their clients alike to view their portfolios, transactions, performance, get access to house analyses and personalised reports, monitor their watch lists, and manage their orders, in an elegant and intuitive user interface.

While being compliant with the highest security standards, IMSplus Mobility has now been enriched with new functionality, and special features such as geofencing, lock-on-shake etc. in order to improve overall user experience.

IMSplus Mobility is available for mobile devices (smartphones and tablets) and can be white-labeled to better promote the organisations’ business objectives and provide them with a competitive edge…. on-the-go!

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IMSplus live at ERGO Hellas – Insurance

ERGO Hellas, member of the well-known German ERGO Insurance Group with operations in more than 30 countries, has gone live with Profile Software’s IMSplus Asset Management solution which helps them improve performance and increase efficiency of  their investment management operations.

ERGO Hellas selected IMSplus, Profile Software’s leading investment management platform, for its flexible, customisable and functionality-rich environment. Having been implemented in other international insurance firms, IMSplus Asset Management Solution offers a robust yet easy-to-customise platform that can easily accommodate current and future business trends and regulations, in the international markets.

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Credins Bank selects the universal banking platform

CREDINS Bank, a leading financial services organisation in South-East Europe, has selected Profile Software’s Collection to effectively manage its banking operations regarding the area of debt recovery and collection processes.

CREDINS Bank, a dynamically expanding banking institution, selected Collections as a Debt Recovery solution due to its rich functionality and flexibility after an international collections systems’ evaluation.

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SAVE THE DATE: February 13th, Geneva and more in London

As part of its events' series in North Europe, PROFILE Software organizes thought provoking events while having the pleasure to be honoured by well-known experts in the wealth management sector, to discuss stimulating topics pertinent to the trends, developments and key concerns.

By following the links below you will be able to read more on the event in Geneva, for  Private Banks and IAMs, where we will have the pleasure of being honoured by industry figures such as Mr. Habegger at De Pury Pictet Turrettini & Cie and Mr. Stephen Wall at Aite Group.

In London we will organise a specialised event for the industry where key people will be invited and a report will be prepared with the findings to share. 

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