Financial Objects, a leading provider of advanced technology solutions for banking, wealth management and energy, today announced its first wealth management win in the Baltic region with Hansabank, which has licensed its activebank Wealth Manager and activebank Orchestrate solutions. As a wholly-owned subsidiary of Swedbank and the largest bank in Estonia, Hansabank opted for the Financial Objects private client portfolio management software to support its growing private wealth management businesses across Estonia, Latvia and Lithuania.
Hansabank needed to replace several in-house developed and third party applications with a single integrated solution that would support all high net worth private client business areas. Following a competitive tender, it chose activebank Wealth Manager and activebank Orchestrate from Financial Objects, as the solution that would best meet the bank's business objectives. Implementation is already underway and expected to go live in June 2007.
"As our business has grown, the need to streamline our IT infrastructure became evident," said Kristel Meos, head of private wealth management at Hansabank. "With Financial Object's activebank solution in place, we will be able to take on more clients, confident in the knowledge that they can be supported on the same IT platform, and that future software releases will benefit all business areas of the bank at the same time."
Based on the Microsoft platform, activebank Wealth Manager is quick to implement, easy to use and offers the flexibility to grow with the business. With activebank Orchestrate, portfolio managers in the private wealth management, private banking and investment management divisions of Hansabank will be able to deliver superior customer service through frequent, high quality, Hansabank branded reports, such as statements and valuations.
"Hansabank is another rapidly expanding organisation that has turned to Financial Objects' to support its growth and empower it for the future,"
said Gary Linieres, sales director at Financial Objects. "Our wealth management solutions provide the IT infrastructure needed for an organisation to grow. They will give Hansabank a competitive edge - internally through reduced operational costs, and externally through sharper customer service."