Business process management company Genpact has partnered with Advizr, a provider of digital wealth management platform, to expand its digital capabilities in wealth management.
Under the deal, Advizr’s financial planning software is combined with Genpact’s OpenWealth platform to offer a fully integrated managed account solution and digital advice to financial institutions.
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The combined solution will enable wealth management firms to provide financial advice to clients, either as an interactive digital experience or through the traditional advisor-guided relationship.
Genpact said that the combined offering helps wealth managers including banks, trusts, private client organizations, and broker dealers address disruptive technology challenges with a digital platform, expanding their presence to the underserved mass affluent and emerging affluent market.
Advizr CEO Hussain Zaidi said "Together we are enabling financial institutions to compete against the many disruptive "robo" technologies that have launched, with a platform that we believe is the future of financial services: client centric, highly automated and unlike every robo, financial planning focused."
Genpact senior vice president for wealth management Boaz Lahovitsky said: "We are excited to work with Advizr as we reimagine the wealth management process end-to-end, through the integration of technology, process, and operational support structures.
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By GlobalData"We are combining the newest, most user-friendly planning technology with our comprehensive managed account platform in a fully integrated, two-way system to construct investor portfolios that are continuously fed with real-time information for tracking performance against goals, and when needed, provide directions for amending them."
