Source: Financial Objects
Financial Objects plc, a leading provider of advanced banking and financial services software solutions, today unveiled a new front- to back-office technology solution that enables private banks to reap the benefits of straight through processing and optimise the value of their IT investments.
Key to the solution is a newly-developed interface, built using activebank Orchestrate. The interface integrates activebank Wealth Manager with ibis s2 Private Banking to provide a seamless front- to back-office private banking solution. Orders generated in the front-office wealth management application are automatically transformed into transactions and routed directly into the back-office system without the need for manual intervention. By eliminating the need to re-enter data, the potential for human error is reduced, whilst the straight-through processing approach shortens processing cycles and lowers operating costs.
The new solution, first developed for a leading European bank, automates business processes across the bank and, by having all elements seamlessly integrated and managed by one partner, enables it to better support its client needs.
"Our new private banking interface has been built using activebank Orchestrate, a powerful data integration and workflow tool developed by Financial Objects," said Peter Caddick, Head of Product Strategy, Activebank Division. "Orchestrate uses a service oriented approach so that business processes can be re-used across applications, significantly reducing the overall development and implementation time."
activebank Wealth Manager supports both private asset managers and institutional clients with portfolio construction, ongoing portfolio management and risk and performance measurement. activebank Orchestrate is a business process optimisation, integration and reporting tool. It is a simple, versatile, rapid-deployment business enabler. ibis s2 Private Banking provides a full range of facilities and automates all activities transacted in private client portfolios.