Wealth management fintech firm JHC Systems has launched its Digital Wealth Platform. It allows firms to digitise key processes, which will improve efficiency and enhance the experience of end users. This means wealth managers will be freed up to focus on client relationships and retention.
The Digital Wealth Platform, which is available to wealth management firms of all sizes, draws from one centralised database and enables operations to be digitised from front to back. The modular offering combines mission critical data, processes, people, activities and offices so that they function as one. The use of a single database eliminates the need for inefficient and time-consuming duplication and integration; instead, the platform offers an all-encompassing foundation on which firms can build their digital ecosystem, providing a base for JHC, or third party, digital solutions.
Edward Lopez, Chief Revenue Officer at JHC, said:
“JHC has served the industry for over 25 years and we’ve seen it all. During that time, just like our customers, we have had to digitise our offering in order to ensure that we have consistently anticipated the needs of clients as the industry has evolved. This journey means that we have been best placed to develop the Digital Wealth Platform, enabling firms to improve their capabilities today while also providing scalability for the future.”
As the world of wealth management continues to advance and regulatory demands increase, the importance of having streamlined operations and access to a clean source of data is more important than ever before.
JHC recently deployed a solution for LGT Vestra to help them digitally transform the management of their suitability reporting, and saw the manual processing time for its middle office reduced from two months down to one day.
“Although everyone is keen to make the most of digitisation, firms often try to run before they can walk. While other sectors have made strides in their digital capabilities, PwC recently dubbed wealth management ‘one of the least tech-literate financial services sectors’. We have seen this first hand so we know that wealth managers need to build from the ground up, making sure that they have the bare necessities in place first. Our Digital Wealth Platform provides firms with a solid foundation from which they can start thinking about leaping into the future.”