Regions Bank goes live on SEI Wealth Platform

Source: SEI

SEI (NASDAQ: SEIC) today announced that Regions Bank, one of the nation's largest providers of consumer, wealth management, and commercial banking solutions, is live on the SEI Wealth PlatformSM (the Platform),

SEI's fully-integrated, single-infrastructure solution that supports an end-to-end experience for wealth management providers and their clients.

The October 2 launch culminated an 18-month transition of Regions' growing private wealth, asset management and institutional services businesses to the Platform. Regions selected the Platform because it provides a unified solution that is fully-integrated across the advisor and client experience, including front-office, trust-accounting, and securities-processing services – all within a single infrastructure.

"We are excited to offer our clients a personalized and streamlined online experience to help them meet their financial goals," said Bill Ritter, Senior Executive Vice President and Head of the Regions Wealth Management Group. "This new and enhanced platform benefits all clients across the Wealth space including private wealth, institutional services and asset management, while also increasing operational efficiencies."

SEI recently made significant enhancements to the Platform's front-office component. In doing so, clients, like Regions, benefit from a connected and expanded front-office experience that will support each stage of their customers' journey – from prospect to client and ongoing servicing. The enhancements enable a consistent portfolio construction process, as well as a robust, customizable investment resource center, which serves as a single repository to efficiently manage each firm's specific investment philosophy. The Platform supports front-to-back data flow within a single infrastructure throughout the entire customer journey, improving the overall efficiency between the front-office, portfolio management, middle-office, and back-office teams.

"We are proud to welcome Regions to the SEI family as a new, large-scale U.S. wealth management firm leveraging the SEI Wealth Platform in its full capacity," said Al Chiaradonna, Senior Vice President, SEI Wealth Platform, North America Private Banking. "With so much change happening around us, it is an exciting time to be in financial services. We look forward to helping Regions grow its business and learning from them, so we can continue to develop innovative solutions to meet the evolving needs of financial services firms and their clients."

A brand new SEI client, Regions began converting to the Platform in 2016. The SEI Wealth Platform has gained significant market momentum since its 2013 U.S. launch, supporting 12 private banking firms and their clients, with another seven clients in various stages of implementation. 

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