Babel Systems is pleased to announce that it has signed contracts with Multrees Investor Services to provide its securities processing software as a key component of Multrees' custody and investment administration service for wealth managers and private investment offices.
The agreement follows a comprehensive industry-wide competitive selection process to find the most state-of-the art solution.
Multrees is a market-leading provider of outsourced custody and consolidated reporting for high- end wealth management boutiques and private investment offices looking for tailored support to underpin a high-touch service for their clients. Babel Systems' advanced web-based modular platform for the automated, real-time processing of multi-asset class investment instruments will be a key component in Multrees' service offering including Multrees Compass, its interactive web portal for managing client assets.
The Babel Systems securities processing system covers order routing and execution, trade settlement, custody processing and automated corporate actions across asset classes and currencies. Babel System's software is the most modern system of its kind on the market offering a flexible system that fully exploits the latest available technology and utilises the latest industry standards.
Founder and CEO of Multrees Investor Services Chris Fisher commented: "Advanced technology in wealth management is key to ensuring firms can increase the time they spend advising their clients and minimise the time spent on portfolio administration against a fast evolving regulatory landscape. Multrees Compass will transform the wealth advisers' experience and help them manage their clients' assets more efficiently."
Founder and CEO of Babel Systems Steve Wise said: "We are delighted to form a partnership with Multrees, and were extremely pleased that this market-leading firm has selected us over many older established players in the market. The experience inherent in our team and the work that has gone into developing our product for this market has been recognised by Multrees, and we look forward to working with them."
Chris Fisher continued: "Multrees is committed to investing in technology that allows us to adaptapt quickly and efficiently to changes in the wealth management industry. Our clients need to be sure that we have safe custody of their assets and scalability of their businesses at the forefront of our service, and the robust Babel platform will allow us to deliver this. We committed a great deal of effort to selecting the correct product that will allow us to provide this service and take us and our clients further forward".