SAGE is a financial technology firm that develops banking solutions. Its flagship product, Prospero, is a suite of nine separate software modules that cover all aspects of financial operations, including asset management, wealth management and fund administration.
In its July 2010 report, Forrester Research, Inc. describes technology companies that are addressing challenges in key banking industry processes.
The report notes that financial institutions are attempting to correct and change their business models in response to market challenges, and describes 11 vendors that are providing innovations in key banking industry processes, such as risk management and asset management.
According to the report, âthe evaporation of nearly 20 percent of the wealth of high-net-worth (HNW) individuals put new pressures on wealth advisors.â Many of these firms are now looking at how technology could help them better serve their high-net-worth clients.
The report went on to say that âSAGEâs Prospero provides global and regional money management firms with an easy-to-deploy solution that accelerates the time-to-value with minimal effect on their IT shops.â
In particular, the report recognized SAGE for tackling two big challenges for its target audience: âthe first, the challenge of integrating multiple applications from multiple providers, complicated by the second, the time and expense of customizing myriad apps to address firm-specific process, workflow, and reporting requirements.â
SAGEâs CEO, Jean-Luc Freymond, believes that current market conditions have changed the rules for software vendors. âRegulations are becoming more complex, and cost pressures are increasing,â Freymond says.
According to Freymond, SAGE addresses these changes by offering innovative solutions at minimal costs. âProspero is different from other systems because it offers a smooth rollout, simplified management of complex financial products and regulatory requirements, and total integration between modulesâall within a cost-effective pay-per-use model,â continues Freymond.
âWe believe that only the systems that can offer this combination of features will succeed in todayâs marketplace, so our recognition by Forrester is very encouraging,â Freymond adds. âWe believe it shows that SAGE is ahead of the game.â