Private Banking / Wealth Management
See below for a list of independently written IBS Journal news and feature articles and IBS Intelligence Research vendor profiles, case studies and market analysis related to Private Banking and Wealth Management Technology in order of publication date.
See also our Wealth Management Systems Market Report >>
Private Banking refers to the type of premium-level banking that a bank may offer to high net-worth individuals, a term that refers to wealthy individuals.
Unlike the high volume, commoditised retail banking services, private banking would normally personalise services by tailoring them specifically for an individual client.
The term is sometimes used interchangeably with another term, ‘wealth management’, although this usage often depends on geographical location.
Most often, private banking implies a relationship between the client and a named ‘personal’ banker who will deal with all of the client’s banking needs. In some cases the relationship may also extend to the client’s extended family. A 24 hour service may be available. Other related services are offered such as creating trusts, offering tax and investment advice and providing portfolio management or other asset management facilities.
Private banking is normally offered by banks to qualified customers as a fee-based service.
The computer systems that cater to this type of banking will reflect the range and level of the services that the bank is offering. Typically they will allow a bank to offer great flexibility in establishing banking products and account options. The range of services and flexibility of reporting will also be generally superior to those offered by the purely core banking systems or the retail banking systems.
In the smaller private banks, all of the services may be offered through a single computer system whereas in the private banking operations of larger international banking groups specialist systems from the investment banking and asset management arms may be combined to offer an integrated service. There is a heavy reliance by private banks on automated portfolio management systems that will assist account managers or investment managers service and administer their customers’ investment portfolios.
Traditionally some of the western European countries were seen as being the centre of the private banking world, particularly Switzerland and Luxembourg. Some ‘off-shore’ centres such as Jersey, Guernsey and Bermuda became popular, particularly with UK residents, during years of high taxation in the 1960s-1970s. One of the most significant trends in the industry recently has been the move from ‘off-shore’ to ‘on-shore’ so today, private banking can be found in almost every country particularly Hong Kong, the Middle East and the developed nations.
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Article: Case study: Bank Oyens & Van Eeghen – Sharp report
29 September 2011
Business intelligence is for the benefit of clients too. Bank Oyens & Van Eeghen's client reporting regime is seen as a vital part of its service.
Article: Case study: Heptagon Capital – Size matters
29 September 2011
When selecting a system, don't overestimate the scope of your activities. Having gone large for too long, Heptagon Capital has now right-sized its IT operations.
Article: Case study: AES International – Home and away
29 September 2011
AES International provides financial services to expats and non-doms and has some very specific technology requirements as a result.
Article: Case study: Bank Sarasin – Star turn
29 September 2011
Basel-based Bank Sarasin, now majority-owned by Rabobank, has standardised much of its operations on the Avaloq platform. There have been plenty of lessons along the way, starting with its implementation in Switzerland and through later ones in...
Article: Analysis: Research – Seeing in the dark
29 September 2011
Research is a cornerstone for most wealth and asset managers. IBS looks at a trio of solutions that might not spring immediately to mind.
Article: Banking System Selection Interactive Workshop
22 July 2011
With over two decades of expertise and an international reputation for independence, IBS Intelligence is offering a new in-house training course for financial institutions large and small. Our two-day interactive workshop is designed to ensure a...
Article: FREE PREVIEW: Avaloq – Avaloq Banking System – Private & retail – Liechtensteinische Landesbank (LLB) – Liechtenstein
11 July 2011
The story of the core system implementation at Liechtensteinische Landesbank (LLB) has two parts, as it also involves its Swiss subsidiary, Bank Linth. The Bank Linth chapter came first, with this bank replacing its core system in 2004, ahead of...
Article: Cayman Islands' Cainvest nears go-live with IPBS banking system
15 June 2011
Cayman Islands-based private banking operation, Cainvest International Bank, is implementing the IPBS wealth management system.
Article: Backchat – June 2011
01 June 2011
The latest gossip from around the industry.
Article: On the move – June 2011
01 June 2011
A round-up of recent appointments and departures within the financial technology market worldwide. Infosys chairman retires, Sungard CEO steps down and co-founder of Bravura leaves the company. Calypso, Bank of America, BMI Bank, Mastercard and...
Article: Who's Bought What? – June 2011
01 June 2011
A round-up of recent orders in the financial technology sector worldwide. TCS, S1 Corporation, Fiserv, FIS, Oracle FSS, Logica, Financial Software Systems and others have announced new deals. Afriland First Bank Group, Marfin Popular Bank, Swift,...
Article: Interview: Nick Levy, consultant
25 May 2011
The retail lending industry is ripe for change says Nick Levy, managing principal with financial services consultancy, Capco. Does the traditional banking industry know what's about to hit it?
Article: Access essential IBS Intelligence market research online
17 May 2011
IBS publications are now published in a new online format featuring regular updates, easy navigation, keyword search, plus print and copy facilities. Mutliple user access packages are also available.
Article: Standards efforts
17 May 2011
There have been attempts to harmonise wealth management principles and introduce common standards but none has succeeded to date. There are more efforts under way at present, particularly an initiative around funds processing and another centred on...
Article: Who's Bought What? – May 2011
04 May 2011
A round-up of recent orders in the financial technology sector worldwide. Sungard, Misys, Tieto and others have announced new deals. Bank of Ireland, Bank of China, FirstMerit Bank and Qatar Exchange are among the financial institutions that have...
Article: Core Banking Systems Global Analysis 2007-2010
04 April 2011
Global Analysis of core banking systems sales from January 2007 - December 2010. Includes sales tables per year for each of the following types of system: Universal, Wholesale, Retail, Private and Lending, along with associated commentary and...
Article: Who's Bought What? – April 2011
04 April 2011
A round-up of recent orders in the financial technology sector worldwide. Fundtech, S1, Surecomp, Twofour and others have announced new deals. HSBC, Banco de Chile, Russian Commercial Bank, Ecobank and Saudi Hollandi Bank are among the financial...
Article: On the move – April 2011
04 April 2011
A round-up of recent appointments and departures within the financial technology market worldwide. BT Radianz, Bats Global Markets, Capco, Tieto and others announce new hires.
Article: Overview: Tales of the unexpected
28 March 2011
After the excitement and growth of 2008, banking systems sales in the established financial centres of the Middle East seemingly floated into the doldrums in 2009. Did 2010 deliver much needed motive power to the industry?
Article: Russian Commercial Bank to convert from IBIS to T24
25 March 2011
The Cyprus-based subsidiary of Russia's VTB Group, Russian Commercial Bank (RCB), is to replace Financial Objects' IBIS and Activebank Treasury with Temenos' T24 core banking offering. This is the third such conversion since Temenos' 2008 acquisition...
Article: IBS Intelligence Publications Catalogue 2011
17 March 2011
Essential core banking and financial technology market research and analysis from IBS Intelligence. Every word of every publication is written by ourselves.
Article: On the move – March 2011
14 March 2011
A round-up of recent appointments and departures within the financial technology market worldwide. Misys has lost a number of senior executives to competition, there has been a management re-shuffle at Temenos and Lombard Risk announces new hires as...
Article: IBS Sales League Table 2011 (results Jan-Dec 2010)
03 March 2011
Who was up, who was down, what types of bank and what geographies were buying? See also
Article: Who's Bought What? – March 2011
03 March 2011
A round-up of recent orders in the financial technology sector worldwide. Oracle FSS, Tieto, Temenos, SAP and others have announced new deals. Bank of China, Helm Bank, Nordea and Johannesburg Stock Exchange are among the financial institutions...
Article: ERI – Olympic – Private – Bank Hapoalim Switzerland – Switzerland & international
21 February 2011
Bank Hapoalim Switzerland Ltd is a fully owned subsidiary of the largest financial group in Israel, Bank Hapoalim B.M. The IT modernisation project commenced in 2005 when BHI purchased Bank of New York-Inter Maritime Bank in Geneva, and by early...
Article: Temenos – T24 – Private & retail direct bank – BforBank – France
21 February 2011
BforBank, a wholly-owned subsidiary of Crédit Agricole Regional Banks and Crédit Agricole SA, is a new entrant in the French banking market. The selection of a new system started in August/September 2008. The schedule was set to go live within a ye...
Article: Die Software Peter Fitzon – OBS – Private banking & fund administration – Hauck & Aufhäuser Banquiers – Luxembourg
21 February 2011
Hauck & Aufhäuser Banquiers in Luxembourg is a subsidiary of Hauck & Aufhäuser Privatbankiers in Germany, which has its roots back to two banking houses set up in 1796 and 1870. For private banking, the bank in Luxembourg was using IBSY, a once...
Article: Callataÿ & Wouters (now part of Sopra) – Thaler – Outsourced – Private Banking – UFG-LFP Private Bank – Luxembourg
21 February 2011
UFG-LFP Private Bank provides private banking services in Luxembourg. Its trades include asset management, portfolio management, mutual funds management, and financial advice. The company, formerly known as Nord Europe Private Bank (NEPB) had...
Article: Bourse Group in Trinidad and Tobago unites on IPBS platform
21 February 2011
Bourse Group in Trinidad and Tobago has gone live on the International Private Banking Systems platform. The integrated system replaces a variety of manual and semi-automated processes.
Article: Who's Bought What? – February 2011
02 February 2011
A round-up of recent orders in the financial technology sector worldwide. Oracle FSS, Surecomp, Vermeg, ERI and others have announced new deals. Cal Israel, DBS Bank, SocGen Corporate and Investment Bank, CIMB Group and Indian Bank are among the ...
Article: First two IBIS users sign for Temenos' T24; vendor sells source code for Activebank Retail
12 January 2011
Temenos' T24 core system is starting to gain traction within the aging IBIS system's user base, which was acquired by the Switzerland-based vendor with Financial Objects in 2008.
Article: SocGen Securities Services ties up with Oddo Services for French mid-tier wealth management sector
10 December 2010
Société Générale Securities Services is targeting medium-sized wealth management players in France through a tie-up with Oddo Services. This is basically 'Plan B' after the plug was pulled on a project by SocGen to implement its own platform.
Article: Who's Bought What? – December 2010 / January 2011
07 December 2010
A round-up of recent orders in the financial technology sector worldwide. Sungard, Fidessa, Misys, Nucleus, Charles River and others have announced new deals. Virgin Money, ABN Amro, Bank of Ireland, Samlink, Ajman Bank, Banca Mifel and EFG Asset...
Article: Global Investment House posts progress with Sage's Prospero wealth management system
24 November 2010
Kuwait-based Global Investment House, the major customer of Swiss IT vendor, Sage, has gone on record about its implementation of Prospero, the wealth management solution. While the project has suffered delays, Hakam Abu-Zarour, Global's CIO, says...
Article: Profidata wins portfolio management deal at Raiffeisen Group
16 November 2010
Profidata has won a deal for its e-Amis wealth management system at Vienna-based Raiffeisen Vermögensverwaltungsbank (RVV) and Salzburg-based Raiffeisen Salzburg Invest Kapitalanlage (RSI).
Article: Tradar's Insight portfolio management system gains traction in Latin America
11 November 2010
Tradar's latest client in Latin America, Brazil-based investment management firm Mauá Sekular (MSK), is planning to extend the use of its Insight portfolio management system to include the front-end modules of order capture and management.
Article: Wealth Management Supplement
01 November 2010
Wealth management systems: Crisis? What crisis? Case studies, analysis, facts, figures and in-depth interviews provide all the clues >>
Article: Overview: Crisis? What crisis?
01 November 2010
There has been something of a return to form for wealth management players following the financial unpleasantness of the past couple of years. But the approach to risk by bank and client alike has understandably changed. IBS asks what impact this...
Article: Overview: Tools of recovery
01 November 2010
A selection of IT solutions that are increasingly being deployed to help wealth managers survive and thrive.
Article: Interview: Don Hathaway, Global Risk Institute
01 November 2010
In January 2011 the Global Risk Institute in Financial Services (GRi) will throw open its doors to give freely to the world its wealth of knowledge of all things risk. Does the financial space need yet another industry body?
Article: Case study: Changing places
01 November 2010
Financial institutions do not often undergo complete changes of ownership, product and service lines – and for good reason. IBS investigates the fortunes of two banks that converted to the high net-worth world.
Article: Case study: Vivid Financial – vivid imagination
01 November 2010
When Sydney-based private wealth advisory firm, Vivid Financial, took to using Financial Simplicity’s portfolio rebalancing and modelling software, it sowed the seeds for a new financial concept.
Article: Analysis: One of life's certainties – Tax
01 November 2010
Neither tax legislation nor multi-jurisdictional tax reporting are subjects that traditionally give rise to much joy, but with the help of some industry experts IBS takes a peep behind the scenes at some new developments in these areas.
Article: Analysis: FATCA – An independent response
01 November 2010
Tier one wealth management firms are already reacting to FATCA, but so too are some of the smaller independent players. Rathbone Brothers explains its approach.
Article: Analysis: Border patrol
01 November 2010
Tax reporting in just one country is demanding in itself; tax reporting for multiple jurisdictions is no fun for anyone. Is there a solution?
Article: Case study: Veritas Asset Management – the whole truth
01 November 2010
Hard times have an unsentimental way of sorting the chaff from the wheat in the business world. Technology can play a major part in the survival of the fittest, if it is used to keep a tight rein on processes, as Veritas Asset Management found to...
Article: Case study: Hefren-Tillotson – a mature response
01 November 2010
Hefren-Tillotson has been in the wealth management business long enough to appreciate the five Ps: perfect planning prevents poor performance. Its product-line reflects this, but did it apply the same rigor when it redefined its technology...
Article: Temenos spends over $100 million for Odyssey Financial Technologies
01 October 2010
Temenos makes its largest acquisition to date, worth $101.3 million, with Luxembourg-based wealth management software vendor, Odyssey. The purchase presents strong cross-selling opportunities, believes Temenos, as well as a chance to offer a...
Article: Calastone settlement and reconciliation service continues to gain recruits
29 September 2010
Brewin Dolphin is the latest to sign for Calastone's mutual fund settlement and reconciliation service. Also in the pipeline are other joiners, moves into new jurisdictions, and an expansion beyond mutual funds.
Article: MeesPierson: islands of profitability
29 September 2010
If at first you don't succeed… In the end, Guernsey and Curacao-based MeesPierson decided that its BI needs could be solved using an integrated tool from its core system vendor, rather than a generic offering.
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