As independent asset managers and multi-family offices continue to grow their share of wallet in Asia — the segment currently accounts for almost US$92 billion in assets under management¹ — it is ever more essential that these firms equip themselves with the right digital infrastructure. Traditionally, IAMs and MFOs brought together several solution providers to meet their needs. Though inelegant, amalgamating a platform in such a way may be adequate for some, but it also leads to fragmented delivery and higher costs due to potential incompatibility between solutions, resulting in limited scalability.

With this in mind, Privé Technologies set out to provide a single solution for IAMs and MFOs of different sizes and business models. Perhaps one of the most distinguishable features of Privé’s solution is the fact that it is at the same time highly modular and fully integratable. Wealth managers are able to pick and choose the functions most relevant to their business case, and thus build a platform that is completely unique to their needs.

In addition, the platform is multi-asset, multi-currency, multi-jurisdiction, and multi-language — specifically, it is capable of handling a wide range of liquid and illiquid asset classes across 40-plus currencies, displays assets no matter where they are registered, and supports over nine languages.

Moreover, Privé has continued to enhance its solution via a series of upgrades in 2018. For portfolios and underlying securities, it implemented straight-through processing execution for several asset classes and custodians, ensuring seamless end-to-end integration. For structured products, Privé responded to high end-client demand by adding a ‘look-through’ feature to allow clients to view their structured product exposure based on market movements and triggers. And to keep up with wealth managers’ growing interactions with the China market, Privé added a complete translation function for traditional and simplified Chinese reports.

Last year, the solutions provider also observed that IAMs and MFOs broadened their relationships with custodian banks, thereby increasing operational burden due to an expanded offering and value chain. In response, Privé rapidly bolstered its data aggregation service by including more custodians on its roster while adding suitability, product risk control, and ordering functionalities to meet compliance standards. Understanding the tedium of bridging systems and formatting the data transferred to and from custodians, Privé also extended its offering to private banks so that its IAM and MFO users have a near-frictionless experience.

For its ability to furnish IAMs and MFOs with a peerless digital banking platform that continues to improve, it is no wonder that Privé Technologies was recognised as the 14th-fastest growing company in Asia by the Financial Times, and the fastest growing fintech in Hong Kong by Deloitte.

Privé Technologies is the winner of Asian Private Banker’s Best IAM/MFO Solution for 2018.

^{1. Source: Asian Private Banker 2018 IAM Report: Asia-Pacific Ready for Take-Off?}