Israel Discount Bank of New York (IDB Bank) has deployed SEI’s wealth management platform to provide end-to-end technology, operations, and wealth management services.
IDB Bank will convert its international custody division to SEI Wealth Platform. Once IDB Bank completes its conversion to SEI’s platform, SEI will support all levels of its processing, investment management, and end-client needs.
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SEI said that IDB Bank has pointed to the ability of its wealth platform to support multiple global wealth management affiliates on a single infrastructure as a key differentiator in partner selection.
Commenting on the deployment, IDB Bank COO and CIO, Robert Plante, said: "The combination of multi-currency technology and operational support offered in the SEI Wealth Platform will allow us to improve service to our clients and gather more assets while increasing efficiency in our operations."
SEI Wealth Platform senior vice president, Al Chiaradonn, said: "IDB Bank’s main objectives are to provide advanced wealth management services to their clients by increasing efficiencies and leveraging superior technology. We look forward to helping IDB Bank achieve these goals and build their success for years to come."
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