Zurich, 17th July, WealthArc , a Swiss FinTech company, has today launched two fully automated interfaces to Société Générale and CFM Indosuez . External asset managers (EAMs) with client custody accounts at either of these banks will now be able to see their portfolios with all details in the WealthArc platform.
According to Swiss External Asset Managers Industry Report 2017 (by Credit Suisse), typical external asset manager manages client portfolios at 6 different custodian banks. In order to perform daily portfolio management or compliance tasks, wealth managers must use from 3 to 6 various eBanking systems, each with different passwords and code calculators. By embracing smart technology designed to automatically consolidate data, wealth mangers can make their lives easier and increase their productivity.
API stands for application protocol interface. It is a way how two IT solutions communicated with each other, for example your PMS/CRM tool with the custodian bank’s core-banking system such as Avaloq, Finnova or Olympics. WealthArc is already connected to 35 custodian banks via fully automated APIs, which means that all data exchange and cyber-security authentications are done by computer programs, without any human involvement in the process.
Modern asset management solutions are quick to set up and the web-based ones require no expensive hardware and software purchases. All-in-one solutions combine portfolio management systems, automation with CRM or digital client portals. Plus, they eliminate all those time-consuming tasks such as quarterly fees calculation or client invoicing.
WealthArc is an easy to implement all-in-one solution that automates manual processes and speeds up the daily work of professional wealth managers.
Currently, the platform consolidates clients’ assets from over 35 Swiss and international custodian banks in Switzerland, Luxembourg, Monaco, Bahamas and Singapore daily via fully-automated and cyber-secured APIs.
With API to Société Générale and CFM Indosuez up-and-running, WealthArc is able to upload all portfolios from these custodians for any external asset managers in less than 48h.