i-flex has entered the world of private banking and wealth management with the launch of the FLEXCUBE Private Banking Suite.
The application supports the lifecycle of customer management, transaction management and portfolio management functions for the mass affluent and high net worth segment of the bank’s domestic business. The application also has a reporting, risk and core function engine.
With booming markets, especially in Asia, Central and Eastern Europe and Latin America, and the number of high net worth individuals rising, banks and financial institutions are working to create more sophisticated and personalized offerings to address the needs of this demanding and highly profitable customer segment.
“The FLEXCUBE Private Banking Suite enables institutions to deploy holistic wealth management offerings that provide competitive differentiation and improve their share of the customer’s wallet. The solution empowers institutions to shift their approach from a ‘one size fits all’ to a personalized model. It will also help them reduce costs by giving them the ability to retire standalone wealth management solutions,” says N.R.K. Raman, managing director and CEO, i-flex solutions.
The FLEXCUBE Private Banking Suite provides financial institutions and their customers a unified view of customer wealth across their portfolios, including the ability to consolidate the holdings of a family.
It enables financial institutions and their customers manage multiple asset classes including equity, mutual funds, bonds, structured products, real estate and commodities, whether held within the bank or with other external institutions.
The application uses open standards and offers quick and easy integration with product processors, core banking, CRM and other back office systems.