PROFILE Software, an international financial solutions provider, announced today its participation in the Private Banking Conference & Awards 2015 taking place at Waldorf Astoria in London, on the 3^rd of June. PROFILE is the Badge and Lanyard Sponsor and will provide a brief overview of its Wealth Management solutions to the event’s professional delegates.

The Private Banking Conference & Awards 2015, brings together private banks, family offices, independent wealth managers (IWMs), consultants and technology providers in an active discussion of the key issues facing the industry, while an awards ceremony will take place in the evening, recognizing the contribution of key firms and individuals to the sector. PROFILE is a finalist for the “Outstanding Wealth Management Technology Provider” category. 

Capitalising on 25 years of market experience, PROFILE is developing innovative and client-centric solutions that comprehensively cover the operations of a Private Banking or a Wealth Management Institution. Its product offering includes:

• Axia, the new, fully web-based, omni-channel solution for Wealth Management firms or Private Banks managing a network of External IWMs, that can be deployed either as a hosted application (e.g. in a private cloud) or on-premises, offering a quick setup and access through any channel unique organizational agility with no need for internal IT infrastructure. Alternatively, Axia may be deployed as a front-end tool for Relationship Managers or Financial Advisors and their clients.
• Mobius Wealth is the advanced mobile wealth management platform that can be integrated with any 3^rd party back-end system. Mobius Wealth includes natively developed mobile apps of the highest possible quality and has been upgraded recently to provide more advisory tools to Wealth Managers.
• IMSplus is the company’s flagship front-to-back Wealth Management platform that has been enhanced with additional CRM functionalities, dashboard, performance analysis and advisory tools, to streamline processes and automate the activities of a demanding Private Banking or Wealth Management organisation.

PROFILE is continuously investing in R&D, offering state-of-the-art innovative solutions while meeting international standards. PROFILE’s product range for the Private Banking and Wealth Management sectors allows organisations to select the solution that most appropriately meet their needs whether it is to provide a unique client experience though the front-end tools (web & mobile), seamlessly integrating them to any back-end system or to deploy a complete, market proven and award-winning wealth management platform for all their operations.

Please follow this link for more information about the Conference: http://www.privatebankerinternational.com/event/private-banking-conference--awards-2015/    

Chang Hwa Commercial Bank and its technology partner Misys have been named as winner for The Market Risk Technology Implementation of the Year Award 2015 during The Asian Banker Risk Management Awards Programme. The programme has been administered by The Asian Banker under its prestigious annual Business Achievement Awards programme.

The awards ceremony was held in conjunction with The Asian Banker Summit 2015, the foremost annual meeting for decision makers in the financial services industry in the Asia Pacific region, held at the Hong Kong Convention and Exhibition Centre, on 15 April 2015.

Implementation of Misys FusionRisk’s historical simulation VaR functionality

Chang Hwa Commercial Bank has implemented Misys FusionRisk’s historical simulation VaR functionality, along with back testing and financial stress functionalities for the products in its treasury department.

More user-friendly VaR report of the Risk Transparency Module (RTM)

The new output VaR report of the Risk Transparency Module (RTM) is more user-friendly, enabling users to analyse risk metrics quickly across a range of hierarchies. Maintaining historical rate time series data is now possible, while monitoring and evaluation results can be quickly generated.

Daily mark to market process can be completed within 20 minutes

Users from the front office, middle office and back office can now access the same pricing results with both the end-of-day mark to market process being completed within 20 minutes and the month end accounting process being completed within 1 hour. The awards programme, administered by The Asian Banker and judged by prominent global bankers, IT consultants and academics, is the most prestigious of its kind. A stringent three-month evaluation process determined the winners from across Asia Pacific, Middle East and Africa. The winners were honoured at a gala event that recognised their efforts in using the best technology to run their institutions and bring superior products and services to their customers.

TimeXtender, the world’s largest provider of data warehouse automation (DWA) software for the Microsoft® SQL Server®, today announced the availability of its new TX Financials (TXF) product.

TXF is a financial management product designed for CFOs, VPs of finance, and controllers. It structures the data collection process, takes away manual processing, and encompasses budgeting, planning, and financial consolidation. In most cases, month-close processes can be shortened with TXF from weeks to days; sometimes even to less than one day.  Users can take advantage of these capabilities without the need for IT or tech support for implementation, support, or maintenance. 

Most companies typically use spreadsheets for financial management, but there can be a high risk involved with spreadsheets when using only aggregated data, passing documents back and forth between stakeholders, and additions and deletions of data given dependency on individual employees.  TXF solves these problems by consolidating all financial processes into one application, and all transactions are brought together into a financial data warehouse. This enables complete reporting and explanation of any variance or ad-hoc analysis in one central repository rather than multiple sources.

Another one of TXF’s most important capabilities is that it captures all its financial transactions at the lowest levels of any source system, such as a spreadsheet, database, ERP, or SAP,   and integrates this information into financial reporting. Data will only be captured once, leading to what TimeXtender calls, “One version of the truth.”

“TimeXtender’s TX Financials helps companies save a significant amount of time and money by automating corporate financial activities such as consolidation, budgeting, and forecasting , said TimeXtender CEO, Heine Krog Iversen. “TX Financials provides a platform for financial executives to integrate all financial processes into one application, retrieve all transaction data from its lowest level, and store and access all data in a financial data warehouse. All this, and end-users can deploy and use it without the need for tech support.”

TXF offers the following capabilities:

• Data integration – financial data for any entity in an organization at the lowest transaction level
• Budgeting/planning/forecasting – development and complete process control that handles the entire budget process workflow
• Financial consolidation – intercompany transactions (reconciliation and elimination) and currency conversion and supports alternative forecasting scenarios based on alternative assumptions
• Financial reporting—enables rolling forecasting and provides an ongoing model that reflects the  current budget
• Data capture – can be fully automated and financial rules for financial reporting can be applied automatically 
• Regulatory requirements --  enables you to meet regulatory requirements for increased transparency of financial transactions
• User autonomy – easy to install, easy-to-use, and changes made at desktop with drag and drop functionality

A TXF software license sells for $50,000 USD and can be purchased direct from TimeXtender or through one of its channel partners. The price includes the full financial management application, which is installed by a simple download.  The user interface (UI) is fully integrated with and completely based on Microsoft Excel. Users will need TimeXtender’s TX 2014 DWAP (data warehouse automation platform), which can be purchased separately if not already implemented. TXF runs on Windows with Microsoft® SQL Server® as the backend.

Temenos (SIX: TEMN), the market leading provider of mission-critical solutions to the financial services industry, today announces that Euro Pacific Bank Ltd, has selected T24, Temenos’ core banking platform and anti-money laundering solutions, to be delivered via the Microsoft Azure cloud.

With this move the bank gains access to a highly scalable and automated platform to support its rapid growth.

Temenos’s T24 cloud-based model bank will give Euro Pacific Bank a single, comprehensive view of each customer, enabling it to provide better customer service through a range of channels and offer the same range of products that clients would expect from a global bank at a price that larger competitors without cloud-based systems struggle to match. 

An integrated anti-money laundering solution offers an efficient, automated way to screen private banking customers, a crucial compliance process that until now has been handled as a manual process.

The complete solution also includes fully integrated output and document management, provided by EFS Technology, which takes T24 data and turns it into personalised customer statements, investment summaries and financial reports. The package will be delivered on the Microsoft Azure cloud platform, in European data centers, with implementation services delivered by Temenos partners, SOFGEN.

Euro Pacific Bank is a fast-growing offshore private bank based in the Caribbean.  It currently has 4,000 customers worldwide, who between them run a total of 10,000 accounts, over 80% of which are in G20 countries.

Adrian Murray, Euro Pacific Bank, said:  “We chose Temenos’ T24 banking software and anti-money laundering solution because we wanted a modern, globally renowned system that supports us with a high level of automation.  With a cloud-based solution we are able to offer a service that is comparable to the best private banks at a price point comparable with fintech start-ups.”

Matthew Addison, Temenos Software Services, said: “We are delighted to offer this combined core banking and financial crime mitigation solution in the cloud.  Cloud is ideal for a customer-focussed private bank that wants to focus on keeping costs and IT complexity at a minimum.”

Capco, the global business and technology consultancy dedicated solely to the financial services industry, today announced its expansion into Singapore with the launch of a new office to meet growing regional demand. The Singapore operation will be led by recently appointed Capco Partners Bao-Viet Lê and Charles Bokman. Mr. Bokman takes responsibility for wealth management consulting, while Mr. Lê will lead the banking practice in Singapore.

Capco’s Singapore team will focus on client challenges across the region including KYC, global payments transformation and regulatory initiatives. “The financial industry worldwide needs a trusted partner with deep knowledge to help them deal effectively with a range of issues, from tackling regulatory complexity to effective client onboarding and anti-money laundering,” suggests Mr. Bokman. “With this new office, Capco is uniquely placed to combine international expertise with an understanding of specific regional demands and conditions.”

“Given our commitment to continue growing our Asia-Pacific footprint, supported by the global assets and industry strength of FIS™, there could not be a better time to be a part of Capco’s ongoing success,” said Mr. Lê. “I’m excited professionally to join a global team with more than 3,000 Capco colleagues worldwide and the power to deliver our combined expertise from complex delivery through to offering utilities with an entrepreneurial and innovative spirit.”

The new office offers a wide range of capability, from high-net-worth customer banking expertise and digital banking experience development, to the entire core banking platform upgrades and renewals that are taking place in growing numbers through the region. Now based in Singapore, Capco is ideally positioned to support global financial institutions as many look to run pilots of their global programs across Asia.

Capco’s near-term ambition is to replicate the rapid success of the Hong Kong office, which has expanded exponentially as the result of singular focus on the financial industry and highly successful support of clients. Peter Schurau, EVP FIS and CEO, Capco Europe and APAC, said, “Our experience in Hong Kong strongly validates our commitment to Asia Pacific. This is clearly a region of continuing growth opportunities and, looking beyond Singapore, we already have a strong presence in Thailand. Given the existing profiles in these markets of our parent company, FIS™, and Clear2Pay (acquired by FIS™ in late 2014) there is every reason to believe we will continue our expansion to Australasia. Senior appointments of the calibre of Bao-Viet Lê and Chuck Bokman will accelerate that process.”

Mr. Lê brings to the company two decades of consulting practice focused on the banking industry, as well as eight years of experience in payments. He previously worked for another global consultancy, having held the role of Sales Lead across Emerging Markets (Russia, Saudi Arabia) and acting as Client Account Lead for several pan-European banks as a seasoned deal-shaper of large transformation programs covering Europe, Russia and Asia.

Mr. Bokman offers a further 20 years’ consulting experience, focused on wealth management transformation projects ranging from core banking replacement to digital strategy. He has worked with most of the major financial industry organizations across Switzerland, Europe, and Asia. His specific focus includes designing target operating models, regulatory compliance issues, providing portals/tools for RMs and enhancing data security.

Capco continues to recruit experts with deep domain financial services knowledge to support its growth both in Asia Pacific and globally.

PROFILE Software, an international financial services solutions provider, announced today that IMSplus - its flagship solution for Investment Management has won the “Best Technology Solutions for Portfolio Management” by the International Hedge Fund Awards 2015. The awards honour the key influencers in the industry, celebrate excellence and achievement in the emerging asset class.

As an international annual event supported by Barclays Hedge, it recongises all elements of hedge funds acting as a testimony to the skills and dedication demonstrated in the challenging environment and often turbulent landscape, to reward individuals and firms working in every sector and region. The majority of the votes comes from the US, Europe and the UK from domains such as fund managers, family offices and consulting firms to name but a few.

IMSplus, the Investment Management platform of PROFILE was voted by the majority of the investment professionals and top level executives based on its functionality, technology advances and capability to provide flexible and easy to use work environment.

IMSplus provides the ideal solution for complete portfolio management with rich web and mobile functionality, powerful reporting tools and a report generator for customisable reporting. It covers all the areas for portfolio analysis, performance, monitoring and trading. It provides real-time 360° view and in depth information through an extensive set of MIS components.

The acknowledgement of IMSplus’ advanced technological capabilities by a demanding audience and a rigorous evaluation process by Hedge Fund awards and Acquisition International publication, further empower the efforts for developing innovative, client-centric platforms that add real value to mission-critical operations while provide a competitive advantage to client service.