Top Ranked Bank in Asia with a complex portfolio wanted to evolve with a strong Wealth Management Suite
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Business Overview
One of the Largest Banking entity in Asia seeks a new approach and Digital solution in their Wealth Management to gain a competitive advantage in the market with a Straight Through processing.
Challenge
The main objective of the Wealth Core System Project is to deliver the single booking, settlement and portfolio management platform for the bank to ensure the future of the Group Wealth Management business, consolidate investment and ultimately develop their competitive advantage in wealth management.
Business Benefit
Closed Portfolio Enhancement
Enhancements to handle corporate actions events for historical positions belonging to closed portfolios
Automated Recon Migration
Built automated Migration Recon tool to identify the match and mismatch cases for Customer positions
Limitless Creative Expression
Hub processing for multi operations deals using Business-to-Business approach in the core Banking Solution for Foreign Exchange Currency, Precious Metal, Derivatives and Structured products
Digital Dealer Enhancements
Enhancements on Dealer desk screens to a more Digital User Experience
Unified Entity Hub
A consolidated platform (single instance) able to support a multiple entity operating model (multi company) and operate a single processing hub across entities to achieve cost efficiency
Wealth Product Expansion
Support an expanded set of wealth products and services that can be offered to the various entities’ clients who are on the platform – this enables faster time to market especially for derivatives and structured products
Seamless Processing Integration
Enhance Straight through processing with full front-to-back and back to-front integration functions.
Continuous Mobile Accessibility
24x7 user access to the system via mobile devices (iPhone, iPad, etc.) and PC browsers.
Scalable Tech Framework
Have a scalable technology architecture
Swift Auto-Processing
Automated SWIFT messages processing for Corporate Action enhancements
Closed Portfolio Enhancement
Enhancements to handle corporate actions events for historical positions belonging to closed portfolios
Automated Recon Migration
Built automated Migration Recon tool to identify the match and mismatch cases for Customer positions
Limitless Creative Expression
Hub processing for multi operations deals using Business-to-Business approach in the core Banking Solution for Foreign Exchange Currency, Precious Metal, Derivatives and Structured products
Digital Dealer Enhancements
Enhancements on Dealer desk screens to a more Digital User Experience
Unified Entity Hub
A consolidated platform (single instance) able to support a multiple entity operating model (multi company) and operate a single processing hub across entities to achieve cost efficiency
Wealth Product Expansion
Support an expanded set of wealth products and services that can be offered to the various entities’ clients who are on the platform – this enables faster time to market especially for derivatives and structured products
Seamless Processing Integration
Enhance Straight through processing with full front-to-back and back to-front integration functions.
Continuous Mobile Accessibility
24x7 user access to the system via mobile devices (iPhone, iPad, etc.) and PC browsers.
Scalable Tech Framework
Have a scalable technology architecture
Swift Auto-Processing
Automated SWIFT messages processing for Corporate Action enhancements
Closed Portfolio Enhancement
Enhancements to handle corporate actions events for historical positions belonging to closed portfolios
Automated Recon Migration
Built automated Migration Recon tool to identify the match and mismatch cases for Customer positions
Limitless Creative Expression
Hub processing for multi operations deals using Business-to-Business approach in the core Banking Solution for Foreign Exchange Currency, Precious Metal, Derivatives and Structured products
Digital Dealer Enhancements
Enhancements on Dealer desk screens to a more Digital User Experience
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Solution Highlights
Comprehensive Migration Journey
The Wealth Suite program involved a large-scale migration journey, encompassing the implementation of the Temenos Triple A Plus front office solution and the Temenos T24 as a back-office solution, along with other related products. The program was carefully orchestrated in phases to ensure a smooth and successful implementation.
In-House Migration Tool
The program also included the use of an in-house Migration Tool (SEM) which allowed for the automated transformation of data in less than an hour. This tool was utilized to migrate data for over 60,000 customers, 600,000+ static data points, and 2.9 million total assets data.
Digital Layer Implementation
In addition to the back-office and front-office solutions, the program also covered the implementation of a digital layer. This included the RM Navigator/Client Wealth Communicator with Edge Connect, WebSphere RESTful and SOAP web services, Temenos application framework for C, Temenos Wealth Suite, and Temenos Triple A Plus ODATA.
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