Today's wealth manager caters to an increasing proportion of elderly and retired clients as well as several new segments of young, hyperconnected, and discerning consumers. With inter-generational wealth transfer, existing processes are reassessed to make them more relevant. These new segments prefer to have information at their fingertips instantaneously to help them make intelligent and informed decisions. Mere process automation and sophisticated technology is not enough to capture this growing market. Advisory services need to be backed by the right technology infrastructure and a culture of collaboration and communication-both within the enterprise and with customers.
TCS BaNCS for Wealth Management solutions are designed to help innovate advisors’ practices and building a superior digital customer experience across the entire wealth management spectrum.
Driven by evolving customer preferences and intensifying competition, wealth managers are shifting their focus towards helping their clients achieve financial wellness with hyper-personalization, delivering superior customer experience, and providing hybrid and holistic advice. Wealth and asset managers want to help their clients grow their investments spanning both traditional and alternative assets. These trends are fueling innovation driven by data, digital technologies, and cloud. Wealth and investment players in the retail and institutional sectors need to modernize their technological landscape and platforms as they expand their solutions covering a full spectrum of services to their clients.
One of the world’s leading asset management firms and an existing TCS BaNCS customer turned to TCS to deliver a highly scalable and reliable performance measurement and analytics engine to support more than one million clients of its digital advisory service, representing five times the existing volume. With TCS BaNCS, the firm is now able to drive more customers to its innovative digital advisory service with faster execution times, highly accurate portfolio information, and optimal user experience.
TCS BaNCS for Wealth Management is designed to strengthen wealth managers and their client relationships, stimulating the much-needed reassurance and transparency that clients want about their investments.
The solution provides a breadth of capabilities across advisory services, portfolio management and execution, fund accounting, valuation, and clearing. Powered by the cloud and SaaS-based approach, it helps financial institutions scale globally and enhance their footprints. With its zero-touch, low-code approach and the usage of a range of cognitive technologies, it enables financial advisors make right recommendations to clients, combat fraud, and protect data.
Higher advisor productivity and customer engagement with end-to-end operations automation, robust integration, and great controls and visibility.
A seamless omni-channel experience for both self-directed as well as advisor-assisted customers.
Increased customer acquisition and strong assets under management (AUM) growth.