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Using technology to engage with clients: The view from TechRules (part 2) - their solution offering

Q&A with Jamie Bolivar, General Manager and Raúl Lacaci, General Manager at TechRules

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Tower is the TechRules leading software solution for wealth management. It is the answer to obtain a complete lifecycle in advisory and open a new communication channel with the clients. Investment proposals, reporting and portfolio management, amongst other services, will be substantially improved with our innovative solution. Our tools empower advisors to...

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by TechRules
| 16/07/2020 12:07:27

What solutions do TechRules offer the market and how do you help wealth management firms meet the increasing needs of their clients?

2.1. Overview
Tower is our flagship solution and is a platform that covers the full lifecycle for financial advice. Our latest developments evolved modular structures to the use of API’s in order to be more flexible and enable clients’ needs to be met more easily. Tower provides a full picture of the end customer situation and allows wealth managers to align it to their own strategy. The platform is suitable for efficient portfolio management and the compliance with the regulatory requirements, no matter the country.

Tower is a global suite for all kind of demands:

  • Portfolio management: proposal creation and rebalancing, reports and financial planning.
  • Specific strategies: discretionary and model portfolios.
  • Interaction with end customers: CRM, user-friendly dashboards and reporting.
  • Advanced tools: business intelligence and alerts.

All tools are monitored by our data quality assurance, to ensure an early detection of possible data errors in the portfolios. Tower also has the advantage of its scalability and easy integration with other tools and systems such as back office or third party applications. Apart from our API structure, it has also on-premise or cloud hosting. We see Tower as a complete wealth management solution because TechRules has developed it as the global solution for all kinds of demands, needs and requirements.

2.2. Benefits
Our most recent success took place with one of our historic clients: a German broker that implemented step by step different TechRules solutions. Firstly, the broker focused on a consultancy to create model portfolios for different risk profiles (B2B). Secondly, it integrated Tower to implement alerts to end clients, create what-if simulations and optimise monitoring. The last step has been to develop a discretionary management robo-advisor to strengthen its B2C offering, both for advisors and end customers. The result was an tremendous success: an exponential increase of end customers, EUR 300m of new assets in less than 6 months, and the best performance in the Covid crisis compared to other robo-advisors. These results are more meaningful as we consider Germany to be a very competitive country in the financial sector.

Another example is the case of a large European bank that has offices in 50 countries around the world. The aim of working with TechRules was to increase the portfolio management and advice business. By using Tower, the bank could industrialise several processes to enable staff to be freed up to spend time on tasks that offer more added value to end clients. This is core to our beliefs as instead of attending to low productive tasks or routines, we believe wealth managers should focus on providing advice and providing end customers with adapted proposals to their financial needs.

2.3. Deployment and future developments
Tower can be deployed as a full platform or APIs, on premise or cloud hosting, for specific processes or for all kind of tasks, compatible with other systems or as a closed system. One of our key strengths and benefits is the flexibility and adaptability of our platform to any requirement or needs. The main advantage is that all solutions are standardised to avoid implementation errors and incompatibilities. Additionally, they are flexible enough to tailor to specific needs and legal requirements.

Our concept is so transparent that we have created a marketplace for our APIs: the TechRules API Library. All APIs are customer-centred, include advanced algorithms based on artificial intelligence, with end customers obtaining user-friendly tools with analytics to help companies identify their behaviour and improve their experience. The suite of APIs covers all kind of needs in investments: portfolio management, advice, data feeds, investment tools, model portfolios and calculations. Our clients can choose their tool and implement it quickly, because the time-to-market is very short, what brings competitiveness and a faster adaptation to new trends.

Access part 1 here

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This article was originally part of The Wealth Mosaic's WealthTech Views Client Engagement Report. You can access and download the full report here:

About TechRules
TechRules is a leading consultancy and wealth management software provider for financial entities, focused on the digital transformation in financial services. For more than 20 years TechRules has developed cutting-edge modular and scalable solutions for the whole financial sector: retail and personal banking, private wealth managers, fund managers, IFAs and family offices. TechRules’s flagship solution is Tower: a global comprehensive platform built up with APIs to respond to any final customer demand and to any management process.

#wealthtech #digitalizationofwealth #financialadvisors #advisorclientengagement #clientengagement