AXIS Bank Ltd, Singapore Branch is offering Wealth Management services, essentially to Non Resident Indian clients, in Singapore and Dubai.
The Project officially started mid July 2008, and as the Singapore Branch has signed a service agreement with its Head Office in Mumbai, all the implementation has taken place in India.
The Bank will in due course extend its use of the wide range of functionality in the OLYMPIC Banking System related to Portfolio Management, with all the different aspects relating to both cash and securities.
The OLYMPIC Banking System will be used by Axis Bankâs Singapore unit to support its proposed wealth management and private banking offering to NRI and other clients both out of Singapore and from its offices in Dubai. The facility will soon be available in Hong Kong as well, subject to approval from the regulators. The application will ensure that the Bank has an integrated, front-to-back real time system to support the products and services that it will offer to its clients, including internet access and advanced portfolio management services. The Bank plans to offer both discretionary as well as advisory portfolio management services utilizing the OLYMPIC Banking System and its associated modules.
Axis Bank is amongst the top 3 private sector banks in India, being an industry leader in its product offering, operations and processes. Wealth Management and Private Banking is an area of focus for Axis Bank especially in international markets. Speaking on the occasion Sonu Bhasin, President-Retail Financial Services, Axis Bank said âThe Olympic Banking system truly complements our efforts in wealth management and private banking services and this will surely equip us with a strong backend support system to offer these services to customers in a seamless and organised manner.â