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Core Systems for Private Banking: Processing the Accounts of the Rich and Famous

Published by: TowerGroup

Published: Jun. 1, 2000 - 11 Pages


Table of Contents


Highlights

Introduction

Background

Evolutions of Private Banking

  • Offshore Accounts
  • Onshore Accounts
  • Client Administration
  • Technology-Oriented New Wealth Clients
  • Emerging Wealth Clients

    The Private Banking Market

    Core Systems Functionality

  • Messaging
  • Customer Information

    Vendor Software Overview

  • Integrated Private Banking Systems
  • Best-of-Breed Vendors

    Recent Developments and Issues

    Conclusions

    Abstract

    Private banking is recognized as the most profitable retail business segment. FSIs must provide a high level of both personal and technology-based services to high-net-worth individuals. These technology services will be required for FSIs to retain and attract high-wealth clients.

    This TowerGroup Research Note examines the growth of the high-wealth market, provides an overview of the systems used for processing private banking clients, and identifies new technologies being employed by FSIs.

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