SS&C Technologies, a US-based software provider to the financial services industry, has been selected by CGS-CIMB, an Asian securities broker, for powering its new wealth management business.
In this regard, CGS-CIMB will use SS&C Technologies’ Global Wealth Platform (GWP) stack to offer end-to-end capabilities and the latter’s Vision FI to provide reporting and client statements for its new venture.
CGS-CIMB is said to provide integrated financial services to over 2,600 institutional clients and 400,000 retail clients.
The securities broker chose SS&C Technologies for its front, middle and back-office wealth management capabilities as well as its range of solutions available to underpin its long-term needs for its newly formed wealth management unit.
CGS-CIMB retail wealth management group head Alan Inn said: “SS&C’s commitment to the Asian market, deep expertise in the wealth management space and end-to-end capabilities to support wealth firms in APAC and globally gave us the confidence to partner with them for our new business venture.
“Through the GWP platform, our clients will benefit from consolidated statements with a single view of assets holdings, faster onboarding and exceptional advisory services.”
The securities broker is said to have introduced GWP to cater to its clients who need discretionary portfolio management in Malaysia and Singapore.
GWP in addition to the reconciliation and client reporting solutions of SS&C Technologies is said to enable CGS-CIMB in quickly getting its new wealth management business up and running.
Additionally, GWP is claimed to support deployment in multiple countries, scalability, and support across wealth management and wealth advisory activities, which include modelling, discretionary portfolio management, trading, client statements, and others.
SS&C Technologies VP and managing director Eric Rocks said: “We are pleased to help CGS-CIMB launch and support its new wealth management and managed investment services venture.
“GWP provides the capabilities needed to simplify wealth management operations and will deliver a great experience for all CGS-CIMB’s users and clients.”
