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: Analysis: Islamic Wealth Management - Putting faith in your investments

20 October 2008

The Shari'a-compliant wealth management sector may have lagged behind its retail counterpart but that is certainly changing, with some conservative estimates putting the growth in Islamic wealth management at around 25 per cent a year. Don Brownlow...

Article: Analysis: Sovereign Wealth Funds - Wealth of nations

20 October 2008

How do governments invest their own wealth and why is it such a controversial area?

Article: Country Focus: Russia - Systems fit for an oligarch

20 October 2008

With more than 50 billionaires and 130,000 millionaires (according to the Forbes list of richest people and findings of the Centre of Economic and Financial research), how does the Russian market cater for such wealth?

Article: The IBS Interview - Dr Teodoro Cocca

20 October 2008

The Johannes Kepler University in Linz has been an important think-tank for the wealth management space and was warning that all was not well ahead of the current crisis. Martin Whybrow spoke to the head of its wealth and asset management faculty, Dr...

Article: Schroders: Radical centralisation

02 October 2008

Schroders has been a pioneer with centralised processing using Temenos' T24. How has it reorganised its processes and what have been the benefits?

Article: Die Software Peter Fitzon selected by Hauck & Aufhauser Banquiers Luxembourg to replace IBSY

02 October 2008

German core system supplier, Die Software Peter Fitzon, has been selected by Hauck & Aufhauser Banquiers Luxembourg to replace an old version of the IBSY system. The system is due to go live in May next year, says Die Software director, Klaus Friese....

Article: Bank Sarasin brings Avaloq and TCS together

01 September 2008

An agreement between Avaloq, the Swiss private banking system vendor, and TCS, will see the Indian vendor become the implementation partner for Avaloq Banking System. The agreement extends to testing, which will see a testing centre established...

Article: Microgen: Microgen's mixed bag

01 September 2008

Microgen has been a consolidator over the last few years, particularly in the wealth management space. What has it been doing with all of its acquired pieces? IBS went to its new London HQ to find out.

Article: Axis Bank chooses Olympic

09 July 2008

India-based Axis Bank is pushing into wealth management with an innovative business model centred on a partnership with a bank in Luxembourg and ERI's Olympic core system. Don Brownlow reports.

Article: Who's Bought What? - July/August 2008

02 July 2008

KBC selects new trade finance system from SmartStream, Fisa Group has fourth win for its Core System, Summit Credit Union and Great Wisconsin Credit Union to merge, Finantix has win for its wealth management system, amongst others.

Article: SAP gains two high-end deals

30 May 2008

Two banks on either side of the world – Commonwealth Bank of Australia (CBA) and ATB Financial in Canada – have settled on SAP solutions for wide-ranging transformation projects.

Article: Third Financial adds proactive alerts technology system to Tercero platform...

30 May 2008

Third Financial adds proactive alerts technology system to its Tercero platform. compliance, investment management, private banking, wealth management, risk management

Article: Sungard unveils banking systems integration strategy, Ambit

28 April 2008

Sungard has branded and fleshed out its integration strategy relating to its banking systems. Dubbed Ambit, the strategy is intended to encompass Sungard's solutions for retail, commercial and private banking.

Article: Thomson win for eXimius

28 April 2008

Thomson has finally announced a win for its front office wealth management solution, having bought eXimius more than six months ago. This is not its first win, but the PR department has been preoccupied.

Article: Who's Bought What? - May 2008

28 April 2008

ERI Bancaire, Misys, Surecomp, Temenos, I-flex and Neptune have all chalked up wins around the globe.

Article: Banco Quantum Capital selects ERI Bancaire's Olympic...

28 April 2008

Banco Quantum Capital selects ERI Bancaire's Olympic. private banking, wealth management

Article: Société Générale Private Banking abandons in-house build for Basel II

06 March 2008

Société Générale Private Banking in Belgium has given up on an in-house build for Basel II and turned instead to Financial Architects' FinStudio. The complexity meant that the time and resources needed would exceed the bank's original est...

Article: 3i Infotech acquires Accounting Frameworks Limited

29 February 2008

3i Infotech has acquired UK-based Accounting Frameworks Limited (AFL), which provides accounting, portfolio management and front office systems to the private equity sector, for £6.3 million. The acquired company's solutions will reside with those of...