CAF has signed an agreement to extend its relationship with Financial Objects, positioning the company as its primary technology supplier across all areas of its business. This is the third phase of an ongoing project with Financial Objects, which will see the implementation of activebank Retail as the core solution to support all of CAF's back office operations including the Give As You Earn and Matched Giving schemes as well as its Charity Accounts and Trusts.
activebank Wealth Manager, a front and middle office portfolio management system, will be implemented at CAF's Trust department which manages investment portfolios for more than 2,000 charitable trusts. The Trust team is currently seeing significant growth and needed a system that would allow it scale to this volume of business.
As part of the project Financial Objects will develop a direct interface between the activebank Wealth Manager and activebank Retail systems to enable the Trust department to view both the investment positions of its customers as well as their current accounts and cash.
"The beauty of activebank Wealth Manager is that not only will it help us to achieve our growth plans, but it will provide us with a single customer view," said Sheila Hooper, marketing and private client director at CAF. "Having all of the data in one place will be invaluable, enabling us to provide a much improved service to our customers."
activebank Wealth Manager will practically eliminate the need for manual data entry, which is currently required with CAF's existing system. Furthermore, as the business grows it will enable the team to manage an increasing number of charitable trusts without having to increase headcount. With client information at their fingertips and the ability to produce client reports at the touch of a button, the solution will enable the team to respond more quickly and efficiently to client requests.
"The scope of this project is an excellent example of how Financial Objects' expanded solution offering can assist clients in different parts of their business," said Brent Randall, managing director of the Wealth Management division at Financial Objects. "CAF's ongoing commitment to our partnership demonstrates our ability to deliver innovative yet flexible solutions on advanced Microsoft technology."