Please provide us with an overview of your solution offering or offerings to the wealth management sector and how they fit together.

Since 1990, when Profile Software was founded, the focus has been on developing innovative systems for the investment management domain. Over the past 30 years, the company has developed its international presence, now active in 40 countries across 4 continents, its workforce, which now stands at 190 employees, and, of course, its product range. It has also developed strong alliances in order to holistically and competitively cover the needs of organisations in the financial services industry.

Nowadays, Profile has a wide range of solutions pertinent to the needs of investment management and banking institutions that include wealth / asset / fund management, core and digital banking, loans management, collections, custody, treasury, risk management and family office, naming a few. These fit together because when deployed in a bank there might be a need to connect platforms for a more integrated approach whilst utilising functionality to deliver at various levels.

For the wealth management domain, the company and its solutions have a long-standing and established presence in the market receiving multiple distinctions for their technology and functionality.

Axia is the next generation system in wealth management and the evolution of IMSplus – the company’s leading platform for the sector for more than two decades.

Axia is a web-based, omni-channel platform supporting front-to-back mission critical operations for wealth managers. The platform is continuously being enhanced with industry specific requirements that address current and future needs delivering a ready-to-use and flexible system. A few of the platform’s characteristics include: Modularity, flexibility, ready to use integration with third-party systems, custodian banks, market data providers, customisable dashboard with numerous widgets, drag n’ drop functionality, powerful and configurable reporting, automated workflows, robo advisory capabilities and comprehensive portfolio management with risk metrics.

Profile is a dynamically growing vendor that constantly invests in research and development to enhance its platforms with new features. Addressing the requirements of the financial services sector, institutions can select the solution that is most suitable to their needs.
 

Considering the wealth management sector is made up of different types and sizes of firms, where does your solution offering best fit? What types of wealth managers do you work with, in which geographies and does that differ for specific solutions?

Profile’s wealth management solution can competitively address the needs of family offices, wealth and asset management firms, fund managers or the private banking divisions of banks. The solution has been implemented in Europe, the Middle East and America with organisations taking advantage of its diverse functionality based on country specific regulatory requirements as well as their company specific policies and business model.

Having a successful track record of implementations with clients ranging from small wealth management firms up to private banking departments, Profile’s solutions are developed in a modular and scalable manner, to deliver the needed flexibility. Irrespective of size, type or jurisdiction, firms can deploy the functionality needed and have the freedom to upscale as the business grows.
 

Thinking about how the wealth management sector is changing today and will continue to evolve in the future, how is your solution offering set up to support that? What are the characteristics that support the new and evolving needs of wealth managers?

The company is continuously investing in its solutions’ roadmap. The product is enriched with new features and functionality that add value to our clients’ daily operations, helping them to better respond to current or future changes. This is achieved through the platform’s modular architecture, cutting edge cloud-based technology, 24/7 accessibility and highly customizable features spanning from dashboards and system grids to printed reports.

Additionally, the solution is built on an open architecture methodology that has integration and interfacing residing at its core. The solution exposes its own API, enabling future expansion and facilitating with easy integration with third-party systems.
 

Can you give us a live example of where your solutions have been deployed, why you were chosen and what you are doing for that case/client?

As mentioned earlier, the Axia platform has been deployed in various regions and different types of investment managers, mainly because of its flexibility and rich functionality. For example, it has been selected by one of the most successful fund managers in France. This firm manages over 20 UCITs funds while at the same time operating a high-net worth private client division. Axia was selected because of its ability to efficiently support, on a single platform, both lines of business. On one side, it provides functions like fund management, NAV calculation, automated reconciliation against custodians and administrators, factsheets production and UCITs limits monitoring, while on the other side, it supports private client servicing through either model portfolios or personalised mandates. Both lines of business enjoy seamless automation and straight through processing flows in their back-office operations, while end-clients benefits from the inbuilt client portal functionality. Other cases include banks in the Middle East, a private banking division in Central America and numerous other European wealth managers.
 

Finally, can you tell us what is coming next with regard to further development of the solution offering? What does the market need to know about your development plans?

We are constantly enhancing our solution to meet the evolving industry needs and market trends. Features like virtual reality and augmented reality are being researched in our research and development labs, while enhancements on Artificial Intelligence and Robotic Process Automation tools are in the making to accommodate future market requirements and equip wealth managers with advanced features when it comes to client reporting, user experience, as well as portfolio management.

Axia boosts client experience and offers a truly powerful system that helps investors and managers achieve their objectives. A voice recognition/activation tool is one of the features included in our immediate plans. Additionally, AI tools are developed to enable wealth managers or end users (when robo-advisory is used) to arrive to faster investment decisions and/or proposals creation based on dynamically built criteria.