The unprecedented economic growth in the last decade has created many high net worth and affluent individuals. Simultaneously responsibility for financing retirement is increasingly shifted to the individuals. Customer expectations have heightened due to which they look for a long-term relationship rather than just a distributor of products to manage their wealth. In response, relationship managers face a competitive challenge in earning and keeping the trust and respect of their clients.

TCS BaNCS Wealth Management tracks and monitors customers’ global household assets held within the financial institution and in third-party accounts. It helps financial advisors and their clients to understand and evaluate the future needs and build strategies and create a product portfolio that meets their goals Through a user-friendly, Internet-enabled application, financial advisors as well as self-directed investors can receive customized investment advice through multiple delivery channels.

The solution helps wealth management firms to become trusted advisors to their affluent and emerging affluent clientele, high-net-worth clientele, driving customer loyalty, retention and asset growth. Financial institutions can either deploy individual components of TCS BaNCS Wealth Management or implement an end-to-end solution that covers the entire spectrum of wealth management functions.

Furthermore, as regulatory pressure intensifies along with the growth of the full-service, holistic wealth manager, TCS BaNCS Wealth Management continues to protect the interests of the organization with automated Know-Your-Customer (KYC) due diligence, best practices in data management and reporting, and full compliance with relevant regulations.

In addition, implementation and support expertise ensures full compatibility with existing systems, flexible customization to match institution needs, and certainty in results.

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