Launching a digital wealthmanagement proposition

THE CASE

The client is a renowned supplier of investment services to retail investors in the Netherlands. The investment office is responsible for the investment policy and management of the portfolios. The client was looking for a new core banking application to execute all investment services related processes with the highest possible straight through processing rate and create the best customer experience. Furthermore, the application needed to comply with the long term IT strategy to modernize the infrastructure. The hosted solution needed to be absolutely future-proof.

Pre-migration, the investment office could not manage the different model portfolios centrally and rebalance client portfolios in an automated manner. Processes associated with the discretionary managed portfolios were not automated and there was significant manual labor involved in managing the portfolios and the associated risks.

31%

LOWER IT AND OPERATION COSTS

The client is a leading international financial

conglomerate with activities in over 10 countries.

The activities consist of, amongst others, banking,

(life) insurance, asset management and pension services.

THE PROJECT

The client and Ohpen identified the requirements and wishes from the investment office and hence further improved the “Investment Models” functionality in the Ohpen Fund & Savings Platform (“OFS”). In parallel, the implementation of OFS in the target architecture was realized using the Ohpen API to interface in a flexible and modern way to enable clients to access their portfolios, transactions and statements. All processes related to account opening and maintenance, payment services, order management and reporting were automated.

At the start of the implementation, a mapping was made to identify the data that needed to be migrated in order to completely shut down the legacy software and terminate associated hosting/managed services agreements.

THE RESULTS

  • Successfully replaced on-premises back office software system by the hosted OFS solution
  • Decrease in testing, functional and technical maintenance of 20%
  • Decrease in back office labor force activities of approximately 50%
  • Total IT and Operations costs of the investment proposition lowered by 31%

Benefits Ohpen Core Banking Enginefor wealth managers:

  • Completely automated investment processes
  • Rebalancing portfolios on basis of volatility, allocation, fund weightings and horizon
  • Integration into architecture using the Ohpen API leads to great adaptive abilities
  • Realize continuous compliance to ever changing legislation such as MiFID II