High Net-Worth Asset Manager Requires Modernizing For Foreign Markets
A High Net-Worth Asset Manager needing the capacity to handle Foreign transactions was modernizing for Foreign Markets by transforming its operating model and platform solutions to take on new customers transactions. This firm expanding its investment strategy into foreign markets, had very outdated capabilities to handle non-US securities. Additionally they had no standard capabilities for Foreign Exchange transactions. They needed to identify and standardize software services that provided these capabilities in their portfolio. EI’s Wealth Management Industry consulting provided solution strategy context, planning and a roadmap for implementing the needed capabilities and conducted an RFP with relevant vendors and provided guidance on the selection and standardization of a vendor.
EI’s Business Transformation practice analyzed existing securities processing workflows, and defined the additional new workflows, policies and procedures that would be required for foreign exchange transactions, then driving these plans through the organization to accompany the adoption of the new solution capabilities. EI’s Solution Implementation team supported the full lifecycle implementation of the foreign exchange solution capabilities, dealing with structured information and ECM service interface integrations required. As a result of partnering with EI, this client positioned itself to operate on their new strategy involving non-US securities, which produced additional revenue streams and in the process, improved both US and non-US equities back office processing. They also equipped the enterprise platform with standardized foreign exchange capabilities permitting the company to function internationally to meet their strategic objective seeking to modernize for Foreign markets.