An emerging trend in the bank technology
sector is the growing need for wealth management solutions,
according to Anselm de Souza, managing director of bank IT services
provider Callataÿ & Wouters in Asia-Pacific.
The comment comes at a time when there
is a demand for local banks in Asia-Pacific to build an onshore
wealth management business for private and priority customers and
offer a wider range of investment products.
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As local banks in Asia-Pacific, segment
their customer base, and financial institutions focus on product
and service differentiation for each of the segment, de Souza says
this has led to a growth of product offerings in the wealth
management sector.
Banks will require solutions, argues de
Souza in order to have streamlined operations, and manage customer
relationships and expectations, as well as different products from
third party providers.
De Souza explains: “The front office
capabilities are obvious, as the relationship managers will require
financial planning tools, portfolio management and analytics. The
back office functionalities seem to have been played down and very
often are managed “manually” or using semi-automated sub
systems.”
“With this trend, Callataÿ &
Wouters is keen to explore wealth management opportunities in
countries such as Malaysia, Indonesia and Philippines as a start.
We think that Thailand and Vietnam may also present such
opportunities,” explains de Souza.
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