BNY Mellon’s Pershing has wealthtech thing for Objectway
These solutions are Pershing Nexus Wealth, with digital client management portfolio management tools, and Pershing Nexus Investor, an investor portal.
While this is the official announcement, FinTech Futures had already written about it after attending Objectway’s conference in March.
Objectway has been working closely with Pershing since July 2017 to phase in all the required services. The solutions are available now and will be enhanced with the addition of execution only functionality and financial planning tools.
“We believe the addition of these integrated front-end tools enhance our core clearing and custody proposition and will offer a simplified solution with a single point of contact for wealth management clients across the EMEA region,” says Geoff Towers, Pershing’s CEO.
Pershing already offers clients live integration between its services and selected third-party customer relationship management, data warehouse and front-end solutions. Through Objectway’s solutions, Pershing aims to implement a single integrated, straight-through processing solution, within a single contract.
Pershing says it can offer new workflow capabilities to wealth managers, with features like customisable engagement models combined with human interaction with digital capabilities.
The integrated portfolio management and CRM systems will also automate operational processes, designed around MiFID II compliance.
Investors will be able to communicate with their advisers across online chat, video, phone or email. They will be able to check their investments and ask for their adviser’s help through co-browsing.