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Financial Objects storms wealth management market

Financial Objects, a leading provider of advanced technology solutions for banking, wealth management and energy, today announced strong uptake from the private client sector for its wealth management solutions in 2006. In its first year of entering the market, the company secured 14 new customers for its leading activebank Wealth Management Application Suite.

Recent contract wins include Concorde Bank, Russian Commercial Bank, ADM Securities Ltd, The Family Office and institutions based in Luxembourg, the Baltics, the Middle East and the UK. This momentum has continued in 2007 and Financial Objects is set to announce further wealth management customer wins in the coming months.

"Today's wealth generation is more financially intelligent than ever and private clients expect a high level of service," said Alois Pirker, senior analyst of Aite Group, LLC. "To be successful in this buoyant market, providers of wealth management solutions need to recognise the requirements of both wealth managers and their customers. By providing integrated CRM and asset management capabilities on a single platform, Financial Objects' software is highly advantageous for its clients."

Providing a broad range of front and middle office functionality activebank Wealth Manager streamlines the investment management process, while activebank Orchestrate provides business process enablement, application and data integration, as well as comprehensive client reporting and document management facilities.

"Financial Objects has a compelling wealth management proposition - not only is its wealth management software cost effective, it also enables us to improve our customer relationship management and retention, said Max Ferri, portfolio manager, Concorde Bank. "The Web Tools have been particularly beneficial because we gain the flexibility to deliver information to our clients as and when they want it, in a secure web-based format."

The level of integration of these solutions has proved highly appealing, with end users able to access CRM, portfolio management, risk management, performance measurement and client reporting capabilities in a single, easy to use system. Backed by the extensive expertise of the wealth management team at Financial Objects, many of whom come from the asset management sector, the company has positioned itself as a key player in this market.

"Wealth management is an important sector for us and we're delighted that the global market has been quick to recognise the advantages of our solutions," said Stewart Foster, director, Activebank division at Financial Objects. "We intend to build on this uptake in 2007 and will continue to ensure that our solutions meet the specific business needs of our customers."