19 March 2018

NorthStar unveils on-demand wealth management system

10 December 2007  |  1786 views  |  0 Source: NorthStar Systems International

NorthStar Systems International, a leading provider of wealth management software to financial services institutions, today introduced the industry's first, firm-tailored, on-demand solution for wealth management.

The solution is based on years of successful service-oriented architecture (SOA) implementations and wealth management best practice experience. As a result, NorthStar is able to deliver the most in-depth, firm-tailored software configuration in the industry.

NorthStar's professional services group has deep experience in wealth management software configuration. NorthStar's on-demand, modular software also available on-premise enables wealth management firms to speed time to value, lower total cost of ownership and compete more effectively.

Until now, wealth management firms had only three choices. They could purchase a canned point application, deployed on-demand or on-premise, not integrated into their wealth workflow. They could purchase a horizontal enterprise application that required heavy customization and long implementation times to integrate. Or they could build and integrate their own software in-house. Most firms chose a combination. As a result, advisors have been stuck using 12 un-integrated applications on average, as their IT departments struggle to maintain the customizations, with limited time for integration or new projects.

NorthStar offers wealth management firms new and better alternatives. NorthStar can implement standard, on-demand software in two weeks. But firms gain true market differentiation when they invest in NorthStar's firm-tailored, on-demand solution. NorthStar configures the firm's wealth management software to specific firm requirements as well as industry best practices. Incrementally, firms can use this SOA-based software foundation to integrate and extend capabilities as needed. The net result is that firms achieve a single, integrated advisor desktop at a fraction of the time and cost it would take to customize horizontal enterprise software or canned on-demand software. Advisors benefit as well. Using a tailored and integrated system, they save time and provide more differentiated, personalized serservice to attract and retain sophisticated clients.

"Wealth management firms of all types are requiring a configurable model, and NorthStar offers the gold standard in terms of depth of functionality and ease of firm-tailored implementation," says V. Balasubramanian, vice president of professional services, NorthStar. "With our proven implementation processes, highly experienced resources and world-class templates, we are able to provide rapid time to value for our customers, and with NorthStar's firm-tailored on-demand implementations, our average time to value is only 12 weeks."

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