Objectway, a global top 100 wealth, banking & asset management software provider, have partnered with novobanco enabling the leading Portuguese bank to provide an advanced financial advisory experience through a digital advisory platform, including goal-based investment planning, advice execution and risk optimised model portfolio creation.

With 1.4 million clients, novobanco is one of the largest banks in Portugal. The bank manages over €20 billion of assets and has a network of over 300 advisors in the affluent and upper affluent segments.
The firm was looking for a partner able to support their strategy to position themselves as a market innovator in investment services, by democratising their wealth offering with an efficient and scalable bespoke advisory platform, to service investors up from a minimum investment of €10.000.

Using Objectway’s Investment Advice solution, novobanco now has the capabilities of a centralised and structured investment tool that standardises the creation of personalised proposals based on risk optimised model portfolios, provides proactive, real-time bulk monitoring against client mandates and implements algorithmic optimisation and rebalancing. The bank is now able to provide a holistic view of a client’s total wealth, whilst aligning the investor’s risk profile and goals with the bank’s investment strategies and governance, in compliance with MiFID II regulation, thus creating an hybrid service where the solution and the advisors work together to create a suitable personalised proposal.

Objectway delivered the project using an incremental release plan adhering to agile principles. The solution is hosted in the Cloud and delivered as Software as a Service (SaaS), integrated with the bank’s existing security and data layers.

“The partnership with Objectway on our transformation program has been extremely collaborative and productive. We’ll bring our plans further by pursuing together with Objectway more enhancements to our financial advisory experience, such as ESG regulations, multi-goal approach and direct advisory, to mention a few,” affirmed Alexandra Tostões, Head of Advisory Service at novobanco.

“novobanco are now clearly ahead of their competition with their ability to provide a holistic analysis of the client’s asset allocation and deliver a MiFID II compliant recommendation, whilst maintaining product innovation and leadership over time,” commented Michele Tanzi, Market Solution Director at Objectway. “They now have the opportunity to achieve new goals in terms of growth and efficiency, relying on a leaner and more simplified process for the advisory network.”

The project is detailed in a case study available HERE for download.