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TRADE & CONTRACT MANAGEMENT
Banks, private bankers, tied agents and insurance companies must continually renew their line of financial products and widen the range of products by concluding new distribution agreements.
Automated order processing and streamlining of operations across all product types is therefore a vital issue.
ObjectWay Order Management is an integral component of the ObjectWay Financial Suite that satisfies financial institutions’ requirements for processing product sales. It handles the input, transmission and monitoring of orders and provides clients with the ability to directly trade on all linked markets. It includes comprehensive contract management functions for financial products.
The solution includes of the following modules:
The solution can also be configured for Correspondent Banking to assist financial institutions with the operational, administrative, accounting and tax aspects of sales to clients of shares in international funds and Sicav.
Order management features in detail include:
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.