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July 22, 2021updated 25 Mar 2022 7:23am

BNP Paribas selects InvestCloud platform for CLM and CRM

By Anita Senaratna

InvestCloud, a tech company who create digital platforms for financial services, has been selected by BNP Paribas to provide Client Relationship Management (CRM) and Client Lifecycle Management (CLM) services for high-net-worth (HNWI) clients.

The partnership marks another deal for InvestCloud, which continues to expand its global partnerships with a growing client base comprising leading global and regional firms such as BNP Paribas Wealth Management.

BNP Paribas Wealth Management selected InvestCloud’s solution based on InvestCloud’s leading automation technology to bring operational efficiency to onboarding of HNWIs, the ease of integration with existing systems using InvestCloud’s modular architecture, as well as enabling BNP Paribas Relationship Managers (RMs) to provide (U)HNW clients with a more responsive and proactive level of client service, for better client retention and client growth.

InvestCloud  is based in Los Angeles, but has over 20 global offices including New York, London, Geneva, Singapore, Tokyo, and Sydney, supporting trillions in assets across a range of clients. It offers a modular range of apps for businesses to choose from depending on their needs. The platform uses AI and behavioural science to create automated solutions which will help businesses make onboarding new clients more efficient. It also allows a company’s relationship managers to focus on building and maintaining their client relationships, and being a client’s human point of contact.

VP Bank signed an innovation partnership with InvestCloud last month to build an open wealth service platform that facilitates personalised wealth management services.

The partnership part of the bank’s Strategy 2026 to become an international Open Wealth Service provider for intermediaries and wealthy private clients.

Through its open wealth service platform, the Liechtenstein-based bank aims to combine its in-house as well as third-party offerings to create bespoke financial solutions.

BMP Paribas is also looking to expand as it submitted an application with the Chinese securities regulator to set up a securities company in the country as it opens up its capital markets.

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