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Core Banking Providers Catering to Wealth Management in Europe and Asia Need to be Flexible, Open, and Focus on Value-Add, Says Aite-Novarica Group


Core Banking Providers Catering to Wealth Management in Europe and Asia Need to be Flexible, Open, and Focus on Value-Add, Says Aite-Novarica Group

There are variations among core banking software providers in Europe and Asia; Aite-Novarica Group profiles 8 vendor solutions in latest Aite Matrix

Core banking systems are the engine of the wealth manager for performing mission-critical functions, and impact how well financial institutions (FIs) can be run, how efficient they can be, and how quickly they bring new products to market. Core banking vendors catering to wealth management and private banking differ in terms of their basic offerings and business models in different geographies, depending on the distinct wealth management landscape in these locations.

In a new Impact Report, Aite Matrix: Wealth-Management-Focused Core Banking Systems in Europe and Asia, research and advisory firm Aite-Novarica Group leverages the Aite Matrix, a proprietary Aite-Novarica Group vendor assessment framework, to evaluate the overall competitive position of eight vendors headquartered and implementing in Europe or the Asia-Pacific, focusing on vendor stability, client strength, product features, and client services. These eight vendors are Avaloq, ERI Bancaire, Finnova, Infosys Finacle, Intellect Design Arena, Profile Software, Tata Consultancy Services, and Temenos.

“In the past replacing or even upgrading core systems used to be costly, time-consuming, and risky,” said Meghna Mukerjee, Strategic Advisor at Aite-Novarica Group. “But now technological enhancements, open and componentized architectures, and phased replacement strategies are enabling more institutions to move forward with the core system replacements or enhancements that they have put off for far too long.”

“The rapid evolution of client needs, alongside the expectation of increased sophistication across digital offerings, is pushing wealth managers to create more integrated, Agile technology stacks and experiences,” adds Wally Okby, Strategic Advisor at Aite-Novarica Group and contributing author of the new report. “Core banking vendors should continue to expand the suite of enterprise components and the availability of open APIs and microservices.”

preview of the report is available online, and desk copies are available to qualified media. Please contact [email protected] or call Kaitlyn Labbe at +1.857.327.9442 for more information.

About Aite-Novarica Group:
Aite-Novarica Group is an advisory firm providing mission-critical insights on technology, regulations, strategy, and operations to hundreds of banks, insurers, payments providers, and investment firms—as well as the technology and service providers that support them. Comprising former senior technology, strategy, and operations executives as well as experienced researchers and consultants, our experts provide actionable advice to our client base, leveraging deep insights developed via our extensive network of clients and other industry contacts. Visit us on the web and connect with us on Twitter and LinkedIn.

Press Contact:
Kaitlyn Labbe
Public Relations
[email protected]