MELBOURNE, Australia--(BUSINESS WIRE)--Charles River, an enterprise-wide, front- and middle-office investment management solution provider, today announced that it led a roundtable session on the use of technology in the Asia-Pacific wealth management sector at Private Banking Asia 2014, held March 19th and 20th in Singapore. Participants discussed current industry trends and how private banks will be leveraging technology as the market grows.
Together with panellists from Bank Julius Baer and Deutsche Asset & Wealth Management, Charles River led the roundtable discussion on the impacts of technology, drawing some key conclusions about the industry in the Asia-Pacific region. As wealth management continues to grow with more opportunities in the mass affluent market, private banks will need to rely on technology to handle the increased volume. In addition, private banks are also dedicating more resources and budget on technology solutions to support and ensure compliance with regulation changes. While there is potential for the convergence of private banking and asset management, it is still important that the technology platform can deliver a personalised client experience as wealth management is still predominantly a relationship-based business, especially so in Asia-Pacific.
“Private banking in Asia-Pacific is a dynamic and evolving market with regional variations in regulations and requirements,” said Cameron Field, Managing Director, Asia-Pacific, Charles River. “Strong growth in the number of high net worth and mass affluent individuals is driving a need for flexible technology solutions with a proven track record of scalability and robustness. The Charles River Investment Management Solution offers private banks institutional-class capabilities to support a complex and diverse market, enabling them to enhance client interactions and efficiently manage large volumes of accounts and trades.”
About Charles River
Charles River provides an end-to-end solution to automate front- and middle-office investment management functions across asset classes on a single platform. The solution offers a simplified operating model that includes enterprise software, data, application management/upgrades, hosting and FIX network to improve investment professional productivity, control risk and lower technology costs. Charles River serves more than 350 investment firms in 43 countries in the institutional asset and fund management, private wealth, alternative investments, insurance, banking, and pension markets.