Milan, 22nd April 2013 - Objectway officially joined the “Elite” program, a prestigious initiative of Borsa Italiana, part of the London Stock Exchange Group, launched over a year ago, with the aim to support the best Italian non-listed companies in their growth path and internationalization trajectory.
Presentations of Objectway and 36 new Elite-program members took place on April 16th 2013 at an event in Milan, organized by Borsa Italiana.
Objectway has been selected to participate in the Elite program after a rigorous qualification process conducted by Borsa Italiana and an independent evaluation committee, on the basis of its positive business track record, financial strength and sustainable growth potential.
Objectway exceeded strict qualification criteria. In fact, the company has a turnover of € 50 million, Ebitda over 20% and equity of over € 18 million.
Luigi Marciano, President and CEO of Objectway Group, commented on the participation in “Elite”: "The Elite program will support Objectway to further extend the business relationships of the company and to solidify its current internationalization initiatives. The support of Borsa Italiana will also be a key tool to further pursue new growth opportunities and company’s future IPO-plans.”
With a new institutional partner and the recent expansion in Italy and abroad through the acquisition of eXimius, a subsidiary of Thomson Reuters group, Objectway has become a financially-strong pan-European Group, which produces software platforms, technology and valuable business services that are used by financial institutions and enterprises around the world.
Objectway operates in five countries in Europe and has established business relations with more than 100 customers in 11 countries worldwide. The group has 500 employees and closed last fiscal year with approximately € 50 million of consolidated revenue, EBITDA higher than 20%, positive net income and cash flow.
Our products enable competitive advantages for our customers, and our services make digital innovation easier and faster. With the aim to better characterise our identity and our typically Italian ability to combine creativity and valuable technological innovation, we are pleased to share with you our new corporate logo.
To characterise our logo and make it recognisable in the world, we converted the wording to capital letters and modernised its style. The adoption of Leonardo da Vinci’s Vitruvian Man, a symbol of the Italian genius, universally recognised as one of the greatest inventors and designers of the Renaissance, is meant to express the ability to innovate and to renew to which we aspire.
We have chosen to insert the Vitruvian Man by Leonardo in the Objectway "O" and use this combination as our hallmark. The Vitruvian Man is known all over the world as the masterpiece in which Leonardo shows how the human body can be harmoniously inscribed in perfect round and square shapes.
The Vitruvian Man, as well as Leonardo, evokes another key component of our business: the human being, thus representing us, but also you, our customer, and your clients - which are at the heart of our business.
Our operational capability grows and our image changes its look, but our priority remains to deliver value to your business. We will continue to support your objectives with excellent products and services to ensure your and our success.
Objectway Financial Software NV (Mechelen-Belgium; London-UK 26th February), previously known as eXimius NV and acquired in January 2013 by Objectway Financial Software Spa (Milan - Italy), has announced the launch of a series of mobile apps for OFS-eXimius, Objectway’s comprehensive portfolio management solution for wealth and private client asset managers and stockbrokers.
The launch of these leading edge mobile applications so soon after the acquisition is early evidence of the complementary business and technology models of eXimius and Objectway’s stack of propositions.
eXimius Wealth Apps enable Advisors to have access to their entire ‘book of business’, and Investors to access their holistic finances, interactively and on the move. Anytime, anywhere mobile access to the integrated eXimius platform will provide Advisors and Relationship Managers with a full array of interactive tools, resulting in the delivery of more tailored and consistent solutions to clients.
The competitive and fast-paced nature of the private client investment management landscape requires front-line Advisors and Relationship Managers to meet with as many clients and prospects as possible, all the while conducting their business efficiently and consistently. In terms of mobile adoption, the wealth management industry has lagged somewhat behind. This is not at all surprising given the strict regulatory environment, privacy concerns and existing business models that govern the industry. But, there is clear evidence that change is imminent.
eXimius’ Wealth Apps are exactly designed to meet this demanding industry context, eg. using secure encryption cloud technology, providing the same high level of security on the move as in the office.
Available as iPad and iPhone apps, ‘Mobile Client ActiveDesk’ provides Investors easy and consolidated access to their holistic finances, while ‘Mobile Advisor Studio’ provides Advisors a ‘workbench-on-the-move’ to effectively and efficiently support their clients anywhere, anytime. The rich and dynamic graphics and intuitive navigation allow for more robust conversations around profiling, investment planning, portfolio construction and proposal generation. Moreover, clients working with an Advisor having access to a mobile platform also benefit in several ways: the relationship becomes much more interactive, iterative and impactful, eg. when discussing investment strategies, scenarios, multi-goal planning and income calculations.
“ We are delighted to deliver additional business value to our existing clients, by leveraging product synergies within the enlarged Objectway Financial Software Group, so quickly after joining forces” said Peter Schramme, CEO of OFS NV. “Using the proven, industry leading Wealth Apps allow us to expand the functionality of eXimius, both for our current as well as our future clients, both in the deployed as well as in the SaaS-delivery model".
Milan, Italy and Mechelen, Belgium - December 21, 2012 – Objectway Financial Software S.p.A.(www.objectway.com), a leading Italian software provider for financial institutions which is currently expanding in Europe, today announced that it has signed a definitive agreement to acquire the eXimius business of Thomson Reuters. eXimius provides a private client wealth management platform. The acquisition is expected to close later this month. Terms of the transaction were not disclosed.
Objectway Financial Software is acquiring eXimius for its distinctive product offering, talented employees, presence in Europe and its ability to deliver specialized client solutions. Combining these assets with the extensive expertise and vision of Objectway Financial Software will spearhead the development of a strong pan-European business.
Futurimpresa Sgr S.p.A., the Italian institutional private equity fund which has recently invested in Objectway, becoming a minority-stake shareholder, has financially supported the acquisition of eXimius by providing Objectway with the required capital.
is a robust relationship-centric portfolio management, modeling and reporting
platform. eXimius is designed for sophisticated wealth managers who want
a single platform to grow and manage their clients’ wealth management needs.
eXimius will be integrated into Objectway Financial Software’s broader suite,
which is designed to enable wealth and asset management institutions of
all sizes to provide best-in-class services to all customer segments.
“This acquisition strongly reinforces our positioning and accelerates our commitment to expand within EMEA,” said Luigi Marciano, founder and Chairman of Objectway Financial Software. “With the addition of eXimius’ client wealth management platform, we’ll be able to add another advanced and complimentary solution to Objectway Financial Software’s product portfolio, which is focused on meeting the rapidly evolving needs of financial advisors.”
Luigi Glarey, CEO of Futurimpresa Sgr, commented, “We are extremely pleased about Objectway’s agreement to acquire eXimius. It represents a significant step in the Objectway development plan focused on vertical integration and international expansion.”
“Thomson Reuters is delighted to have found a strong leader in Objectway who will continue to grow and serve eXimius’ customer base,” said John Fennelly, managing director and head of wealth management at Thomson Reuters. “Objectway shares our vision of the growth opportunities that exist in the wealth management space.”
Ashurst has acted as the legal advisor and Klecha & Co. as the financial advisor to Objectway.
Milan, December 5th 2012: Futurimpresa SGR, an institutional private equity fund partecipated by the Chambers of Commerce of Milano, Bergamo, Brescia and Como - with Francesco Micheli as President/Chairman and headed by Luigi Glarey as CEO - enters in the equity of Objectway Financial Software SpA, a private group lead by Luigi Marciano (founder and major shareholder) operating in Italy and in Europe in the development and implementation of proprietary software solutions and IT services for financial institutions
Futurimpresa enters in the equity of Objectway through its Finanza e Sviluppo
Impresa investment fund with a total investiment up to € 10 million,
to be realized via a staged program of new capital share issues that will
allow the investment fund to reach up to 30% of the Company equity. New
funds will be used to support the implementation of Objectway Group Industrial
Plan, focusing on an aggressive expansion plan in continental Europe and
in the UK, in addition to further strengthening the Italian market leading
The investment fund has underwritten the first dedicated capital increase
that will be used by Objectway Financial Software to finance the acquisition
of the majority of the equity capital of AMS Group. AMS Group has a turnover
of approximately 15 million euro and is specialized in providing outsourcing
services to Asset Management Companies and Financial Intermediaries.
Ashurst has acted as the legal advisor and Klecha & Co. as the financial
“Futurimpresa entry in the share capital of Objectway is the
fund fifth investment and has the objective to work side-by-side with the
entrepreneur, who has founded and developed the business, as his financial
partner and by bringing a strong growth-oriented culture”, said
Luigi Glarey, CEO of Futurimpresa SGR. “Furthermore the deal with
Objectway is a very good example of the investment approach/strategy of
Futurimpresa. Objectway is a company that produces technological innovation,
developing software application platforms and integrated services. They
significantly enhance the competitive position of financial institutions
and enterprises in general, with an ambitious development plan focused on
vertical integration and international expansion – namely in the UK
and in continental Europe – also through targeted/bolt-on acquisitions.”
“Our partnership with Futurimpresa SGR is a great value enhancer
for Objectway, not only by strengthening our balance sheet and providing
financial resources but also by enhancing our institutional visibility and
providing strong support to our growth strategy”, comments Luigi
Marciano. “Thanks to Futurimpresa contribution and support, we
will strongly accelerate the implementation of the development and internationalization
plan of our group, started in 2008, and we will broaden our perimeter of
activity both in Italy and in our strategic target European countries through
acquisitions and by opening local entities/offices”, concludes
Since the beginning of the ‘90s, Objectway has undertaken a remarkable
growth pattern, combining organic growth and acquisitions, to become a reference
player in the Italian and European markets of vertical application software
for Wealth Management, Asset Management and Mobile Banking. The software
is used by Private & Retail Banks, Asset Managers and Financial Advisors.
Additionally, the group is specialized in designing and implementing multichannel
software platforms and innovative technology-based services for financial
institutions and other industries.
Including the AMS acquisition, Objectway Group ha revenues of more then
40 million per year; it employs 450 people and its client portfolio has
reached more than 100 Italian and international companies (banks and financial
institutions, large and medium sized enterprises and service providers).
The Group has ambitious development plans in Italy and in Europe and it
already operates in France, Spain, Portugal and Ireland.
Milan, 29 May 2012: Tomorrow's seminar "Private Banking- solutions for the client's relationship", presents Progettometro, an application of financial education for the Ipad, implemented by Objectway for ANIMA SGR (www.animasgr.it), an independent leader in the asset management industry in Italy with total asset under management over € 35 billion.
It is promoted by the specialized magazine AziendaBanca (www.cardieditore.com)
in collaboration with the Italian Association of Private Banking AIPB.
Alberto Cuccu, Chief Operating Officer of ObjectWay Financial Software
(www.objectway.com), presents all the details of the new App.
With your Ipad you can: plan your investments and estimate in advance how
much you can save to finance your most important life investment goals,
as your marriage, the purchase of your house, and the birth of your child;
these are in summary the opportunities offered by the tool that will be
presented tomorrow. The main aim of Progettometro (www.objectway.com)
is to help the investors in the construction of a personal saving project
through the identification and quantification of the suitable "tools"; this
can be obtained by using a very simple and straightforward application offered
free by the App Store under the section Finance and Education.
Progettometro addresses to two main targets: the Italian retail
market and the professional financial institutions distributing Anima SGR
products (over 150 network distribution partners, 7,000 bank offices and
15,000 promoters and financial consultants). Progettometro can be offered
as a new relationship tool for the Advisors: through the construction and
sharing of several simulations, based on various scenarios and client's
objectives, a more informal and interactive preliminary discussion can be
started complementary to the traditional asset allocation proposal.
An App has been developed by ObjectWay Financial Software initially for
the Apple iOS platform and then extended to the Android one. This App is
based on native technology to respond to the needs of the mobile identity
and user experience (straightforward appl, icon dragging, general use of
gesture and drag & drop). Finally ObjectiveWay Financial Software has introduced
an element of connection between the applications to allow an efficient
management of the platforms ; a unique financial engine reused by both platforms.
Milan, September 2011 - ObjectWay Financial Software S.p.A, a fast growing European player in Wealth and Investment Management solutions announces the recent acquisition of Silma Software SpA business.
Founded in 1985, Silma Software is specialized in software solutions for
financial brokers, financial intermediaries, and asset management companies.
As a result of this acquisition, a new company - ObjectWay Investech
Srl - totally controlled by ObjectWay Financial Software SpA ,
has been created. All Silma Software activities, clients and personnel have
been transferred to the NewCo.
Luigi Tartaglino and Leonardo Mecchia , Silma Software shareholders , are
both joining the Board of Directors of ObjectWay Investech.
This acquisition is part of ObjectWay Financial Software S.p.A consolidation
strategy aimed at strengthening its market positioning in asset management
Leading asset management companies, including Anima Sgr, Prima Sgr, Symphonia
Sgr and Unicasim, are all currently using products developed by Silma Software.
The Silma product offering will be integrated into ObjectWay Financial
Suite (OFS) software platform and will strengthen its platform
leadership positioning, offering integrated front-to-back solutions for
wealth management services companies and for the financial institutions
investment management business in general.
Luigi Marciano, ObjectWay Financial Software SpA President:
"With today's acquisition we have completed our asset management offering
for the financial broker segment. Major players in this sector are going
through a consolidation process and are very interested in using specialized
software platforms, as the one we provide. This acquisition is a key step
in our effort to anticipate financial market trends and invest in market
opportunities which will increase the value of our offering and strengthen
our market positioning".
Milan, September 2011 - ObjectWay, a fast growing Italian company and a
global player for Wealth and Investment Management solutions, has received
three prestigeous 2011 technology awards from financial magazine World
Finance (www.worldfinance.com). According to World Finance jury,
headed by Alexander Redcliffe, ObjectWay S.p.A. has been recognised as the
best technology advisory solution provider for the financial sector, the best
software systems developer for the retail as well as the private banking sectors
in Western Europe.
Much to his satisfaction Luigi Marciano, ObjectWay President
has declared: " We are very proud of these awards from World Finance.
They underline the success of our strategic approach, to be excellent at
combining Wealth and Investment Management business know-how with an in-depth
technology expertise. The result has been the development of an innovative
technology platform that provides advanced, flexible, customised and modular
software solutions in Italy and abroad, mainly in Western Europe".
ObjectWay has been awarded by World Finance Technology Awards 2011
jury, because " ObjectWay solutions address two major financial market
challenges: a margin increase and regulations compliance". Furthermore
"ObjectWay has become a market standard in the private banking sector
for customised software and technology solutions ". The jury has also
expressed appreciation for " the high standard of ObjectWay advisory
services and for the fact that banks can directly integrate those services
with their own organisation, without the involvement of third parties".
World Finance and the Awards jury are convinced that nowadays innovation
and technology are key drivers to investment decisions. Technology can be
implemented at a low cost and can guarantee high efficiency, cost reduction
and margin increase to current global institutions. World Finance Technology
Awards identifies and selects individuals and companies which distinguish
themselves for the best technology . During the awards cerimony, World Finance
interviewed Luigi Marciano, CEO and President di Objectway Spa. The interview
is available at http://www.worldfinance.tv/?s=objectway
World Finance (www.worldfinance.com) has a network
of over 120.000 l readers - decision makers. Both the headline and the site
are committed to high quality journalism and have managed to build through
the years a reputation for excellence. World Finance enables readers to
access continuously updated news drawn from the best financial information
publishers, as Reuters and Financial News. World Finance magazine has launched
the annual World Finance Award in 2007 to identify leaders
who represent a reliable market performance benchmark and the best business
and financial world practices The World Finance Award jury is headed by
Alexander Redcliffe and uses a wide range of criteria and a critical approach
built through a 175-year consolidated experience in financial journalism
Milan, 14th July 2011: Gruppo Banca Etruria partners with ObjectWay to launch innovative fee-based financial advisory services based on ObjectWay Private Wealth Management software
Cedacri has selected ObjectWay as its partner to offer a leading edge software
platform that enables its client banks to deliver advanced and innovative
financial advisory services to private clients. Cedacri is the Italian leading
provider of IT services to the banking sector, and ObjectWay is the Italian
leader and an emerging European reference player in the Wealth Management
This partnership highlights the growing relevance/importance of Wealth
Management for all players in the banking/financial institutions sector
as a way to improve their customer relationship management and strengthen
their competitive positioning. Cedacri has decided to serve the growing
needs of its client banks by strengthening its financial advisory services
dedicated to Private Wealth Management: the integration of Cedacri banking
information system with ObjectWay OFS platform forms the basis for a customized
and flexible approach to Private Wealth Management services.
ObjectWay's OFS Private Wealth Management software suite is available in
two versions (Premiere and HNWI- HighNet Worth Individuals) and has been
adopted by several financial institutions in Italy and in Europe. Premiere
is primarily focused on the "affluent" client and offers a relatively simple
and standardized service model, while HNWI has been developed to offer a
more sophisticated service model addressing the needs of the High Net Worth
individuals. OFS is based on a modular and scalable architecture where modules
and services can be combined to create customized solutions.
Cedacri has integrated OFS with its bank information system to allow for
on-line real time management of each client investment portfolio, compliance
checks and execution of the investment recommendations as they are agreed
with the client.
Gruppo Banca Etruria is the first Cedacri client that has adopted the OFS
Private Wealth Management Suite, as a result of the partnership with ObjectWay.
This solution enables the implementation of three financial advisory modules
and supports financial advisory services in selecting the best customized
client's investment portfolio. The partnership foresees the extension of
OFS Private Wealth Management to other Cedacri clients in the near future.
"Our partnership with ObjectWay, a Wealth Management Software Services
and Solutions market leader, guarantees high quality solutions for our Upper
Affluent and Private clients, a fast growing competitive business , which
requires an advanced financial advisory approach. We will integrate our
outsourcing services with ObjectWay software, already designed to take into
account market and clients' potential future changes " Fabio
De Ferrari, General Director of Cedacri.
"Our customers will be able to rapidly implement differentiated Wealth
Advisory models , selecting the best asset and wealth client's allocation,
thanks to our highly flexible platform , which can be easily integrated
in the client's business context and organisation. We are very proud that
a leading financial institution, such as Gruppo Cedacri, has chosen ObjectWay
as its financial advisory partner. As a result of our agreement, Gruppo
Banca Etruria has already managed to activate an advisory service for all
its clients, providing three different service models. One of the models
is particularly innovative and suitable for top private clients"
Luigi Marciano, President of ObjectWay .
"Advisory services, based on ObjectWay-Cedacri software platform ,
provide highly customised investment solutions to Gruppo Banca Etruria's
clients. In particular, clients can receive a report that includes clear
and complete portfolio investment information. Real time data availability
enables the development of a trust- based relationship between the client
and the financial advisor that could lead to the definition of new opportunities
and concrete solutions" Paolo Manuelli Director of Wealth Management
Center - Gruppo Banca Etruria.
The Wealth Management Center, part of Gruppo Banca Etruria, is the first
Cedacri client to adopt the ObjectWay platform and offers three new advisory
- " Basic Advisory Service, targeting affluent clients
with simple investment portfolio needs
- " Advanced Advisory Service, targeting private clients,
with more complex investment portfolio needs. The service includes continuous
advisory activities, such as individual client's portfolio analysis and
management, based on its investment objectives and risk profile, dedicated
advisor, and periodical review. The client needs to pay a fee proportional
to the portfolio value.
- " Advisory Plus Service, targeting High Net Worth clients
(i.e.: portfolio value higher that 2 million euros) that includes additional
services,such as the possibility to interact directly with a Wealth Management
advisory specialist .
Gruppo Banca Etruria financial advisors are able to evaluate client's financial
holdings and the investment risk profile, with information provided by ObjectWay's
application system. They can then build a client's personalised investment
portfolio, based on decisions negotiated and agreed with the client. Client's
portfolio monitoring will depend on future market trends.
The new technology and solution platform, set up by Gruppo Banca Etruria
and Cedacri in partnership with ObjecWay, provides a series of advantages:
- " the possibility to customize client's service, offering a family of
different models for each specific segment;
- " a general service enhancement and homogenization: all private bankers
can work with the same processes and software tools;
- " quality, asset allocation, compliance and sales volumes real time
Milan, 05 April 2010: ObjectWay, the Italian company leader in Wealth & Investment
Management Software, announce its expansion plan in Russia and Eastern European
countries as its growth strategy in the next three years.
"There is a growing number of high-net-worth and ultra-high-net-worth classes around the world, -said Luigi Marciano Chairman of ObjectWay S.p.A-. In most developed nations, the wealthy are accumulating assets more rapidly than the middle class. At the same time, many emerging economies are thriving, with high annual growth rates. Growth in countries such as China, Brazil, India and Russia represents new good opportunities for bank and private banking services"
Objectway started to explore European Eastern countries in the 4th quarter of 2010 and now decided to value the opportunities of Russia market.
A recent FT article stated the the number of dollar billionaires in Russia rose to 114 in 2010. This represents a new record after the previous peak in 2007 when there were 107. Although the rise is largely due to the strong performance of the Russian stock market in 2010 it is still good news for those working in wealth management & private banking business, and creates opportunities for the market players.
The wealth management market in Russia is becoming much more competitive,
spurred on by the growth of domestic providers. Russian high net worths
is not yet sophisticated but the landscape for this sector is changing with
the presence of an increasing number of international banks creating a more
competitive market for the management of wealth.
According to Mr. Luigi Marciano ObjectWay solutions could have a good appeal in Russia and Eastern European countries as they are already used by wealth management market leaders in Western Europe.
OFS Wealth Management Platform dramatically improves your processes for Client Management, Sales Management, Personal Financial Planning, Portfolio Management, Alert Management, Compliance, Client Reporting, and Management Control.
OFS is used by more than 90 financial institutions in Europe. It is employed by about 10,000 personal bankers in 6,000 branches, 2,000 private bankers, 35,000 financial advisors, 2,500,000 on-line individual investors.
Global Winners like Barclays and Unicredit have already chosen our software platform to support their innovative Wealth Management service models.
Milan, 22 November 2010: ObjectWay, the Italian leader and global emerging player in Wealth Management & Investment Services Software Solutions for the Financial Industry, announces the arrival of the new OWealth Apps application that allows the use of financial reporting and portfolio analysis, monitoring of orders and management of suspended orders, and management of performance, risk and compliance alert services with smartphones and tablets, iPhones, iPads, Androids and BlackBerrys.
Smartphones and tablets will revolutionise the operations of financial
promoters, private bankers and clients in the financial
services and wealth management sectors.
These mobile devices are easy to handle, are constantly connected to the
network and will offer an easier more attractive and effective way to manage
financial portfolios based on the possibility of receiving and monitoring
data and making decisions in real time anytime, anywhere.
The spread of these devices is increasing exponentially, as confirmed by
market analyses estimating that by 2011 there will be around 400 million
users worldwide, and that this figure will double over the following 3 years
(Source: Gartner Inc.).
For financial institutions, the availability of these tools will be a key
competitive differentiator essential for improving customer relations, the
quality of their services and the productivity of their networks of financial
OWealth Apps is available in two versions,
one for financial advisers and one for clients. By installing OWealth Apps
on a smartphone or tablet, a financial adviser can look for a client and
view that client's data; browse the investment portfolio; obtain an analysis
of portfolio performance, risk and compliance with interactive graphics;
view product data and news; set and receive alerts based on positions, portfolios
and clients; check the status of orders and handle any critical issues concerning
suspended orders. By installing OWealth Apps on a smartphone or tablet,
the client will benefit from a subset of functionalities, with simplified
financial analysis and views compared with those available to the financial
adviser. OWealth Apps also leverages the full capabilities of the native
device, such as the ability to call and send e-mails and SMS messages to
clients, calculate the route and activate the navigator to reach them.
It is possible to download a video demonstrating the functioning
of the main features of the application from the ObjectWay web site, http://www.objectway.com
OWealth Apps comes integrated with the OFS Personal Financial Planning
platform. The many financial institutions already using this platform
in Italy and abroad will be able to make these new services available simply
by installing the new solution.
OWealth Apps can still be easily taken up even by those who are not yet
users of ObjectWay because, thanks to its architecture, the services can
be easily integrated even with proprietary or third party wealth management
OWealth Apps is based on the innovative ObjectWay Mobile architecture, and
is now available on iOS and Android operating systems and will be available
on RIM by the first half of 2011. Today, these operating systems provide
more than 80% coverage for smartphone and tablet users and, according to
leading market analysts, this will rise to 90% by 2014.
The solution has been designed by ObjectWay Mobile Solutions unit, specialised
in the ideation and creation of mobile applications. OWealth Apps is higly
scalable, and therefore works effectively with a high number of users connected
at the same time, it guarantees high safety standards, it provides both
pushing and advertising mechanisms, and some of its features are available
even in the absence of network connection in offline mode.
"The new application fully meets the needs of financial institutions
to leverage mobile channels to increase productivity and the speed of communication
and commercial network intervention to the benefit of the end user and the
overall quality of service. In addition, it further enhances financial advisory
services by allowing the end user to become an active part in exploitation
of the service itself,” according to Alberto Cuccu, head of
the Financial Software Business Unit of the ObjectWay Group. "OWealth
Apps extends and completes our ObjectWay Financial Suite Personal Financial
Planning platform and has been evaluated as a source of competitive advantage
by our clients who already plan to use it. An important financial advice
network will be the first to install the new platform before the end of
Milan, 22 July 2010: The ObjectWay Group (www.objectway.it), a leading Italian company specialising in software development, services and solutions for financial operators and companies in Italy and Europe, was chosen by SEC SERVIZI, a consortium of Italian banks, as a partner to provide financial services to private customers of SEC's client and member banks via the ObjectWay Financial Suite (OFS), in compliance with the MiFID Directive.
The ObjectWay Financial Suite (OFS) was selected by SEC SERVIZI after an extensive evaluation of the market conducted by carefully analysing the solutions and their ability to meet the needs of customers, as well as non-customers. The solution is currently being installed and integrated with the Secnew outsourcing platform and will soon be available with various customisations for differentiating the business of SEC's Customer and Member banks.
The need to identify a software vendor partner capable of providing a platform to support MiFID-compliant financial consulting services to bank's customers is part of SEC SERVIZI's commitment to work alongside and support the activities and business of its client banks. It also aims at distinguishing and improving the level of the financial consulting services by offering banks high value-added services, even to high-standing customers, in accordance with the national compliance guidelines.
The ObjectWay Financial Suite (OFS) provides customers with a comprehensive financial service, which includes the following steps: identification of internal or potential bank customers, reading/writing of the MiFID questionnaire for identifying the financial profile and determining the model portfolios recommended by banks, analysis of the customer's current portfolio presented with different financial tools and criteria (macro and micro asset classes, third-party assets, etc.), supply of a portfolio model, personalised for each bank and created based on the customer's requirements, monitoring of the current portfolio and the model for identifying any movements (by risk, yield, volatility), management of the purchase and sale orders necessary to bring the customer's current portfolio in line with the model portfolio, delivery of periodic reports to customers, comparison of the portfolio in terms of allocation to the various micro asset classes and back testing (i.e. the portfolio's behaviour and performances compared to the objectives and risk model), and forecasts based on performance, risk and volatility indicators defined by the Bank.
"We are extremely happy to have been chosen as a partner of SEC SERVIZI, a leading Italian consortium that provides specialised IT application services to Italian banks, and that has always been committed to enhancing the operating capabilities and technological innovation to Client and Member Banks", declared Luigi Marciano, President and CEO of ObjectWay S.p.A. "The 'ObjectWay Financial Suite' to be integrated into the SEC information systems combines two fundamental requirements for banks: compliance with the European directives and provide added value to ensure incremental business and profits for SEC Servizi's customers within the financial advisory services arena. Objectway Financial Suite significantly contributes to achieving these objectives in accordance with the spirit of the MiFID Directive, aimed at protecting investors and improving their choice of investments".
Luciano Dalla Riva, Managing Director of SEC SERVIZI declared: "The increasing interest and special attention that Members and Customers place on IT solutions is testimony of the fact that information technologies have become a strategic lever for banks and of how the technological solutions offered are increasingly perceived as an important investment for development. On the strength of this awareness, over the last few years SEC SERVIZI has accelerated a development path that has allowed the company to reach high performance levels. On the basis of the increasing synergies coming from the continual expansion of the company and its clientele, SEC SERVIZI can now provide high quality services that give Members and Customers an evident and real competitive advantage".
March 30, 2010: FinecoBank - Unicredit Group has chosen the ObjectWay Financial Suite software platform to support financial advisory services offered to clients in compliance with the MiFID level 3 directive.
With a network of over 2,500 Personal Financial Advisors, 900,000 customers
and 30 billion Euros of assets, FinecoBank - Unicredit Group is introducing
a new, comprehensive and customised financial advisory service for customers
who choose to manage their investments with the help of an advisor.
The new FinecoBank advisory model comprises full management of advisory
contracts in compliance to the MiFID directive: customers sign a main contract
to manage one or more accounts with dedicated financial portfolios. Each
portfolio has an asset allocation consistent with the customer risk profile,
available funds and investment duration.
To implement its new advisory service, FinecoBank adopted a set of solutions
provided by ObjectWay, an Italian software solutions specialist for the
banking and financial services sector.
FinecoBank deployed the “Personal Financial Planning”, “Portfolio”
and “MiFID Suitability and Appropriateness” solutions, all parts
of the ObjectWay Financial Suite software platform that provides data, information
and functionality needed by the financial advice processes.
The ObjectWay solution does ex-ante and ex-post checks of portfolio suitability
using parameters typical of the MiFID 3rd level model. It then continues
to execute periodic risk monitoring, benchmarking and rebalancing and supplies
periodic reporting to advisors and their clients.
The new service also includes a diagnosis contract in which the software
is used to analyse risks and returns of the client’s entire set of
investment portfolios, including investments held by other banks.
"We are proud to have been selected by FinecoBank - Unicredit Group.
ObjectWay Financial Software meets market success because it offers first-class
support to management and compliance of new financial services”,
said Alberto Cuccu, COO of the Financial Software Business Unit in ObjectWay.
"Our solutions are designed in full compliance with MiFID and offer
considerable benefits to customers such as flexibility of use, extended
customisation capabilities, ease of integration, quick and predictable roll-out.
This explains their adoption by banks, broker and asset management companies
of all sizes"
ObjectWay is the leading Italian software vendor in financial products
distribution and advisory services. Its software platform has been adopted
by national and international banks and brokers in Italy, France and Spain.
It is currently used by over 5,000 branches, more than 50,000 financial
advisors and private bankers and more than 2 million online customers.