Manila, Philippines (PRWEB) November 16, 2011
Rizal Commercial Banking Corporation (RCBC), based in the Philippines, has selected SunGard’s WealthStation solution to help grow its wealth management business and build investor confidence. By automating and consolidating client and account information from different systems used throughout the bank onto a single platform, WealthStation will help RCBC improve reliability and efficiency of compliance, processes and workflow, and deliver greater transparency to clients.
RCBC needed a solution that would help provide a consolidated view of client portfolios throughout the bank, facilitate the sale of suitable products to their clients, and deliver processing and reporting efficiencies. RCBC will use WealthStation’s central dashboard of advisor and client information, trading and order workflow, and consolidated reporting. RCBC also will use WealthStation’s risk profiling capability, which will provide a customizable questionnaire to help the bank accurately assess clients’ risk tolerance. WealthStation will be integrated with SunGard’s TAPS investment administration and accounting solution for retail investment and trust banking, which RCBC has used since 2000, to help provide front- to back-office operational efficiencies.
Mr Manuel G Ahyong, Jr, first senior vice president and segment head of RCBC Wealth Management, said, “We chose WealthStation for its ability to centralize and display information across different businesses and systems, its client-centric workflow and reporting capabilities, and its strengths of integration to provide an efficient process. By working with SunGard to meet our technology needs, we have aligned with an international company with a well-known brand, which also helps to increase client trust and confidence.”
Bob Ward, chief operating officer for SunGard’s wealth management business, said, “In the Philippines and other economies in the region, the wealth management industry is experiencing rapid growth. In fact, the Asia Pacific population of high-net worth individuals grew 9.7% in 2010, exceeding that of Europe, and is now nearing that of North America*. This increasing sophistication requires more robust tools. SunGard’s WealthStation will provide RCBC with the tools it needs to help it remain a leading provider of wealth management services in the region – capabilities that offer risk tolerance assessment, holistic views of the client relationships and activities throughout the bank, and full transparency of processes and transactions.”
- 2011 Asia-Pacific Wealth Report, Capgemini and Merrill Lynch Wealth Management, page 4.
Rizal Commercial Banking Corporation (RCBC) is one of the top 5 private commercial banks in the Philippines, with total resources of P320 billion as of end 2010. RCBC has recently been named Best Commercial Bank in the Philippines by World Finance publication of the United Kingdom, and won the Philippine Best Retail Bank of the Year from Asian Banking and Finance Magazine. Through its private banking unit RCBC Wealth Management, the bank is able to provide high net worth individuals with insightful advice and proven expertise in private wealth management, investment management, financial planning, and brokerage services.
About SunGard’s WealthStation
SunGard’s WealthStation provides portfolio managers and advisers with tools to help them acquire, service and grow their client relationships. Integrating various levels of financial planning, asset allocation, trading, investment selection, portfolio management, reporting and client management information into a single platform, WealthStation delivers a flexible architecture to help advisors improve their productivity while providing increased service levels to their clients.
SunGard is one of the world’s leading software and technology services companies. SunGard has more than 20,000 employees and serves over 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue of about $5 billion, SunGard is ranked 434 on the Fortune 500 and is the largest privately held business software and IT services company. Look for us wherever the mission is critical. For more information, visit http://www.sungard.com.
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