MIDDLE & BACK OFFICE SECURITY PROCESSING
The ObjectWay SMIT2 front-to-back integrated platform supports the processing of securities in the middle and back offices of banks, banking groups and outsourcing service centres.
It is the ideal solution for banking groups with centralized operations that access securities markets and depositaries mostly through a centralized group entity that acts as the unique counterparty of other group banks.
There are currently approximately 50 retail banks using the ObjectWay Securities Middle & Back-Office multichannel platform.
ObjectWay Securities is a straight-through processing platform that assures the fluid cooperation of separate departments of a credit institution with respect to order management, compliance, regulations, securities master data, corporate actions, accounting, tax and reporting.
ObjectWay Securities is a solution of the SMIT2 product family. It is multicurrency, multilingual, modular, flexible and extendible and is constructed on secure and scalable service-oriented architecture.
The solution has the following middle & back Office functions regarding securities processing:
The solution’s strong points are:
WHO & WHAT
UBI Banca Group operates through nine regional banks and approximately 2,000 branches. It selected the ObjectWay Financial Suite - Financial Planning, Portfolio, MiFID Adequacy and Appropriateness - to support the provision of MiFID compliant advisory services by the group's 2,000 branches. UBI Banca will introduce ObjectWay in November 2009 to improve the quality of financial advice that is personalized and targeted to the needs of different customer segments (retail, “affluent”, “top affluent”) in compliance with regulatory requirements.
ING Direct, which is owned by the Dutch financial giant ING, is the largest online bank in the world and has over 1 million customers in Italy. The Italian branch chose ObjectWay Order Management for the management of "Investimenti Arancio" due to the ease and efficient manner in which it can manage the sales of funds and SICAV through its distribution channels: call centres, interactive voice response and the internet.
BANCA SELLA GROUP
The Banca Sella Group consists of a bank holding company, four retail banks, and a private bank all of which are served by a centralized back office. It selected the entire ObjectWay SMIT2 product line to support securities operations in 330 branches, online retail clients and the customers of SellaXtrading. The Securities Middle & Back Office, Portfolio Administrator and Portfolio Manager solutions are now integral parts of the Group’s information system that is built on service-oriented architecture, and supports order input, transmission and execution, proprietary trading, wealth management and securities custody services.
The Group also selected ObjectWay Portfolio for client portfolio management assigned to its private bankers and network of financial advisors.