What's New in the European Wealth Management Front-to-Back Office Vendor Market?
I look forward to continuing my research of the front-to-back office wealth management vendor landscape and understanding how the platform providers in this space have addressed market changes and evolved their product offering since my 2016 report: European Wealth Management Technology Vendors: Evaluating Front-to-Back Office Platform Vendors.
In the 2016 report, Bravura, Comarch, Dorsum, GBST, JHC, Objectway, Intellect Design, Profile Software, SEI, SS&C Advent Software, Temenos, and Vermeg were profiled in detail across various factors to determine the ABCD XCelent Award winners in four categories: Advanced technology, Breadth of functionality, Customer base, and Depth of client services.My 2019 version of the report assures a similar lineup of vendors, and I aim to conclude how much has changed from 2016 and how much has stayed the same. In 2016, we concluded:
"Wealth managers continue to face a challenging environment due to tighter regulations, political and market volatility, an evolving client base, and digital innovation. As such, wealth managers and software vendors are investing more in their wealth management platforms in order to provide a comprehensive and fully integrated end-to-end solution. Platform enhancements are aimed to automate parts of the advisory process, reduce costs, manage risk, and serve clients more efficiently and uniquely. Across the board, vendors are offering scalable single technical infrastructure solutions that enable workflow automation, transparency, global reach, and a client-centric experience."
I am interested to see how much of a role APIs and partnerships/integrations, NLG and front-back office automation and efficiency, advice delivery model shifts, regulations and transparency, and (big) data management and analytics have played in the market.
Celent's digital offering will play a critical role in the data collection process. VendorMatch is where vendors can add information about their company and solutions, upload marketing materials, videos, and links to their website, and provide a wide level of marketing communications for the more than 10,000 searches a month that we're receiving. We’re now expanding VendorMatch to include the RFI questions for reports such as this one; this feature is called "VendorMatch/RFX."
Celent has profiled the wealth management vendor space since its founding. The 2019 report will join the library of reports in this series.
Below are the 2015-2018 reports: