The Wealth Management, Private Banking division of Credit Suisse, serves approximately 700,000 high net worth individuals around the world. Credit Suisse Italy’s Personal Bankers and Relationship Managers provide financial, retirement and insurance advisory services in 29 locations throughout Italy. Credit Suisse Italy uses OFS Back Office for all aspects of asset management and administration: order input, straight-through processing trading on domestic or international markets; asset management services for private and institutional clients, SWIFT settlements, securities custody, taxation and reporting. Credit Suisse uses Objectway integrated solutions also for CRM and MiFID-compliant advisory services.
With 20,000 advisors and 2,500 billion in client assets, Bank of America Merrill Lynch is the world’s largest broker. The Italian branch of Merrill Lynch Global Wealth Management selected the OFS platform to be used in its Private Banking business, adopting the Objectway front-office and OFS Back Office solutions for investment management of clients' safekeeping accounts and discretionary portfolios. The solution is an integral part of the Bank’s global infrastructure. Introduction of continuous 24-hour availability eliminated business cut-offs and accelerated data updates, thus increasing the accuracy of portfolio information provided by private bankers to their clients.
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 OFS Back Office for the management of its product "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.