Axisoft and IBM jointly organized a wealth management seminar, “Next Generation of Wealth Management Solution for Resolving the Post Financial Crisis Issues”, for banks and financial institutes in Hong Kong on Tuesday, 12 October, 2010. The seminar attracted IT managers and business users from several banks who are interested in extending their regime to the wealth management market in Hong Kong and the Greater China. In the seminar, consultants from Axisoft and IBM provided industry proven framework and approaches to address bankers’ pains and get them prepared for business expansion.
The seminar was organized in light of the surging needs of wealth management in Asia where wealth has been accumulating at an exceptional rate after the financial crisis. More and more Asian banks are aggressively looking for industry know-how and proven practices to capture the invaluable business opportunities. Moreover, there are more legal restrictions after the financial crisis. Banks are in search of ways to, on one hand, address the compliance issues from the monetary authority; on other hand, recover public confidence to encourage more investment. Axisoft and IBM tried to address the above issues and shared the experience and know-how of utilizing information technology to enhance efficiency and strengthen business growth.
Axisoft’s Senior Manager of Banking Solutions, Mr. Benson Shiu then introduced a wealth management framework that could act as a model for wealth management business. The framework encapsulated all information technology systems for wealth management industry. He demonstrated how the framework applied to the recent tightened requirements implemented by the Hong Kong Monetary Authority and Securities and Futures Commission on Risk Profiling, Risk Matching, Sophistication Matching, Order Recording, etc. The framework acted as a guideline and helped banking software consultants provide flexible solutions to any changes in the business environment. After Axisoft’s session, IBM consultant showed how the banks could manage their working performance with Business Intelligence and Performance Management Software.