South Africa's Standard Bank has licensed UK-based Wealth Management Software's (WMS) Lisa platform to support private client activity at its London, Hong Kong, Miami and Jersey operations, in addition to other satellite offices.
WMS says its Lisa product will be used to consolidate data from twelve different internal and external systems, enabling the bank to provide a consistent private client wealth management service across its global offices.
Paul Newton, chief executive of WMS, says: "Lisa will handle all of the asset classes including cash, securities, precious metals, derivatives and FX trading and our software will support a number of new functions including collateralised lending and client profitability analysis."
Newton adds that the system will be implemented during the remainder of this year and the first half of next year.