RCBC needed a solution that would help provide a consolidated view of client portfolios throughout the bank, facilitate the sale of suitable products to their clients, and deliver processing and reporting efficiencies. RCBC will use WealthStationâs central dashboard of advisor and client information, trading and order workflow, and consolidated reporting. RCBC also will use WealthStationâs risk profiling capability, which will provide a customizable questionnaire to help the bank accurately assess clientsâ risk tolerance. WealthStation will be integrated with SunGardâs TAPS investment administration and accounting solution for retail investment and trust banking, which RCBC has used since 2000, to help provide front- to back-office operational efficiencies.
Mr Manuel G Ahyong, Jr, first senior vice president and segment head of RCBC Wealth Management, said, âWe chose WealthStation for its ability to centralize and display information across different businesses and systems, its client-centric workflow and reporting capabilities, and its strengths of integration to provide an efficient process. By working with SunGard to meet our technology needs, we have aligned with an international company with a well-known brand, which also helps to increase client trust and confidence.â
Bob Ward, chief operating officer for SunGardâs wealth management business, said, âIn the Philippines and other economies in the region, the wealth management industry is experiencing rapid growth. In fact, the Asia Pacific population of high-net worth individuals grew 9.7% in 2010, exceeding that of Europe, and is now nearing that of North America*. This increasing sophistication requires more robust tools. SunGardâs WealthStation will provide RCBC with the tools it needs to help it remain a leading provider of wealth management services in the region â capabilities that offer risk tolerance assessment, holistic views of the client relationships and activities throughout the bank, and full transparency of processes and transactions.â
* 2011 Asia-Pacific Wealth Report, Capgemini and Merrill Lynch Wealth Management, page 4.