2020 at WealthArc: Product Review

We’re getting close to the end of 2020. COVID-19 made it extraordinary, and many companies struggled to achieve the planned goals. Especially those from traditional sectors depending on offline sales channels.

At WealthArc, we didn’t slow down. As a fintech company with strong engineering background, we quickly switched to the online mode and continued serving our clients as usual. We also opened a new office in Geneva where we already have satisfied clients. You can read more about our commercial successes in my previous blog post.

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2020 was also a busy year for our Product Team. Let’s see what changed in WealthArc PMS throughout the past 12 months.

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Even More Custodians Available

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At WealthArc, we are proud to be connected to 70+ custodians via our robust API engine. In 2020, we onboarded 16 new banks, allowing our new clients to get a full overview of their portfolios.

We open a new API connection whenever our client asks for it. In this blog post, our CTO Radomir Mastalerz explains how long it takes and what’s the process behind it.

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Direct FIX Trading

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In 2020, we introduced Direct Trading via the FIX protocol to our platform. We were one of the first wealthtech companies to automate sending trading requests.

The new feature allows you to send your requests directly from WealthArc. You can analyse your portfolios and send trading orders without logging in to other platforms. Thanks to integration with Investment Guidelines, our PMS automatically suggests what orders to send to rebalance your portfolios.

Direct Trading is already available for assets held at Pictet. Other integrations including Julius Baer, UBS, Vontobel, Credit Suisse and Lombard Odier are coming soon.

Take a look at this blog post to discover all benefits of Direct Trading.

Expired Documents Management

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To facilitate client management, we added a new Document Management view to the Compliance section. It gives you an overview of all the documents uploaded into your account across clients, serving as a comprehensive archive.

You may filter your documents by diverse characteristics including expiration dates. Thanks to that, you can see which documents are about to expire and which already have.

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Cybersecurity Enhancements

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As an answer to the COVID situation forcing EAMs to work fully remotely, we introduced several enhancements to make our platform even more cyber-secure.

With the new access right management, you have a full control over your account users. Depending on their roles (Relationship Manager, Compliance Office, External Auditor, etc.), you can grant them limited access to protect your confidential data.

Keep in mind that your login data is protected with two-factor authentication. To enter our platform, WealthArc users need to type their passwords and a one-time code sent to their mobile, which significantly increases security.

There’s a number of other features protecting the accounts of our users. Our Product Owner Jakub Zowczak explains how they work in this blog post.

Updated Management Information System

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We introduced several enhancements to the MIS module. Now, you can group your data by client attributes, e.g. domicile, country risk, U.S. citizenship, PEP or LSFin classification. You can also see them in the Portfolio table within this module.

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Automatic eDocs Exchange

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As an answer to your requests, we integrated WealthArc with the systems generating electronic documents at custodians. The new feature automatically downloads eDocs from banks and archives them within our PMS. It also automatically assigns them to categories such as portfolio statements, confirmations, tax reporting, etc.

At the moment, the feature is available for 4 major custodians: Julius Baer, UBS, Vontobel and Lombard Odier.

Discover the best practices for using the eDocs module in a blog post by our Product Owner Kacper Filipski.

Smarter Invoicing

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In 2020, we developed a new Fees and Invoicing module. It allows you to generate invoices for your clients with just 3 clicks. Thanks to automating the whole process, it’s not only quick but also super simple.

The new module automates archiving, debiting, analysing fees and more. Take a look at this blog post to understand how to fully benefit from it.

Structured Products at WealthArc

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This year, we announced integration with Leonteq, a leading Swiss marketplace for structured products. Thanks to that, you can easily access information on your structured products as well as see their term sheets.

You can analyse your investments into structured products directly in the Positions view. There’s a set of filtering and sorting options to help you find relevant information quickly.

In this blog post, our CEO gives more detail on the Leonteq integration.

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Behind New Features

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At WealthArc, we have two departments working daily on improving our PMS: Product and Engineering. Both of them have strong technical background, and thus utilize frameworks rooted in the IT environment.

Our teams work in Scrum, which helps them deliver the improvements requested by users really fast. They work in 2-week sprints after which they introduce their updates and present them to users during online demos (like this one).

In 2020, our Product Owners held 25 online demos. It helped them keep regular contact with WealthArc users and show them how to make the most of it.

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2021 Outlook

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We’ve already planned several major projects for 2021, but it’s not the end. We’ll be listening to you and adding new initiatives to our product roadmap when needed. Don’t hesitate to contact us and ask for a feature you’d like to see in our PMS.

If you’d like to get live updates on what’s happening in our company, join our LinkedIn community.