Wealth Management

Wealth Managers face a lot of Challenges today like acquiring and retaining existing clients, challenges in changing Business environment and sustaining growth. Wealth managers will have to use financial technologies to identify client personas using demographic and psychographic data, which can be used to design customer journeys.

Tech Mahindra has extensive experience in the Wealth Management business space. We have executed Wealth Management projects in Europe, Asia Pacific and leading retail banks that manage wealth in US.

This puts us in a unique position as a tangible contributor lead by knowledge of business/domain, industry level processes and techniques to various components of wealth management applications and business processes along with its Business Units, where we have acquired in full or have strategic interest CitiSoft, Sofgen, Dion Global, Comviva, Bio and Target Group, TechM offers an integrated set of solutions and service offerings.

Our Key Differentiators are:

• Deep domain expertise across all segments of Capital Markets and Wealth Management.
• The Competency has a pool of subject Matter Expects (SME) who have extensively worked in the industry.
• The Financial Services practice comprises 100+ consultants in Capital Markets, Wealth and Retirements, Investment Management and Risk and Compliance domains. This is in addition to consultants and rich delivery experience in subsidiaries Citi soft & Sofgen.
• A unique combination of domain, technology and consulting expertise along with Verticalized offerings and solution accelerators.
• We have specific focus on creation of IP based platforms and solutions for Wealth and Asset Management, Securities Reference Data and Digitization.
• Our core services enable Financial Institutions worldwide to transform their operations, bring innovation, drive profitability and optimize resources in a digital connected world.

Our keen focus on our capital markets sub vertical within the overall BFS vertical is resulting in several disruptive solutions to help our clients deal with the present and future strategic imperatives.

To improve advisor support and enhance productivity – we have accelerators to

• Consolidate CRM and Sales dashboards to real-time status of sales pipeline and continuous traceability
• Efficient workflow management for consistent follow ups, better visibility of the workflows created
• Enable usage of multi-modal channels for advisors and customers
• Faster on boarding through various digital channels and technologies

Service Offerings

Differentiated Offerings:

• Retirements Administration – BPaaS
• Reference Data as a Service - BPaaS
• Digital solutions for PWM – CaReXa, iDeP, Socio, PRISM
• Centers of Excellence in Temenos T24 / Wealth Manager (100+ FTE), Avaloq (70+ FTE) and Charles River
• SOFGEN (subsidiary of TechM) tools for Data Migration (BIRT), Change Management (SCM) and Event Management (SEM)

Value Proposition:

• Experience across the AWM value chain in both IT and Operations
• End-to-end service capability combining Consulting, Change the Bank Implementation / Transformation and Run The Bank services by combining best of breed capabilities (Sofgen + Citisoft + TechM)
• Experience with unique Business Models – Asset Monetization, BPaaS, Carve-outs
• Digital enablement of wealth and private banking application and processes

Key Engagements across the Wealth Management Value Chain

• Client Onboarding
• Financial Planning
• Contact Center
• Portfolio Management

Solution Offerings:

• RITA (Real Time Investment & Transaction Assistant) – Powered by IBM Watson - will help relationship managers analyse large volume of complex structured and unstructured data including research reports, product information and customer profiles; identify connection between customer needs and its growing corpus of investment knowledge and help advisors weigh various financial options available to customers.
• RPA tools and specialized solutions for Private Banking – for digital operations, wealth management automation, transaction processing automation – to reduce costs, improved process efficiencies
• Managed Data Services (MDS) - is a one-stop solution for reference data management from Tech Mahindra. This is a unique offering in the reference data management space that spans across the entire life cycle of reference data management.
• Alliance based solutions like Strands owned Personal Finance Manager, Hydrogen - cutting edge financial applications anywhere globally with Hydrogen API, financial engineering, block chain, and machine learning in minutes – with respect Wealth Management.