Svenska Handelsbanken to roll out Financial Objects' activebank in Luxembourg and Switzerland
Financial Objects, a leading provider of software solutions for banking, wealth management and energy, today announced that Svenska Handelsbanken S.A. has licensed its activebank Wealth Manager and Orchestrate solutions to support the bank’s growing wealth management businesses in Luxembourg and Switzerland.
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This implementation of portfolio management and client reporting software also includes the delivery of a secure client web access facility.
A wholly-owned subsidiary of Svenska Handelsbanken, one of the largest banks in the Nordic region, Luxembourg-based Svenska Handelsbanken S.A. needed to replace software that had been developed in-house, with a more advanced and scaleable system. Financial Objects was chosen ahead of a number of competitive vendors to deliver and implement an integrated solution that would address the bank's requirements.
Scheduled to go live in June of this year, the Financial Objects implementation will streamline the investment management process with improved portfolio management and client reporting - enabling the bank to take on more clients without increasing headcount. Svenska Handelsbanken's high-net worth private clients will also be able to access their investment details via the internet as well as to send and receive secure messages to and from the bank.
"Financial Objects offered us one solution for two pressing issues" said Erick Rossion, head of IT for Svenska Handelsbanken S.A. "With the need for a secure website application and new portfolio management functionality, we anticipated a two-phase project. Financial Objects was able to implement a single solution in one phase - limiting disruption, while saving time and money."
"This is the first implementation of our activebank Wealth Management solution in Switzerland and our seventh client in Luxembourg. We're delighted to be working with Svenska Handelsbanken and to offer the bank a system that reflects its size and success in the wealth management market," said Gary Linieres, sales director at Financial Objects. "This new solution will be a valuable tool for supporting the portfolio managers in providing a broader range of strategies to their clients, while allowing their relationship managers to better track and report to a growing client base. Importantly our solution will allow the bank to take on more business while keeping operational costs in check."