ATRAM Partnered with Additive to Launch Wealth Management Platform

ATRAM, an independent asset management firm, recently collaborated with a global SaaS and embedded finance WealthTech provider, Additive.

Following this strategic alliance, ATRAM will be able to update and digitize its wealth management offerings in order to fulfil the rising need for knowledgeable and user-friendly investment services. With the help of additiv’s orchestration engine, DFS®, ATRAM’s new digital wealth management platform will be able to offer smart, interesting, and customized wealth and investment services.

Pieter Zylstra, General Manager APAC, additiv said, “Our platform enables ATRAM to exceed the Philippines’ need for a fully digital wealth management service and to become the market leader in the emerging Wealth-Management-as-a-Service (WmaaS) industry. Delivered in the Microsoft Azure cloud, through a SaaS model, these end-to-end financial services can now be offered in the most cost-efficient way.”

The fully digitalized solution, which is expected to be live in the second half of this year, will give ATRAM’s high-net-worth clients quick and easy access to cutting-edge advisory services supported by ATRAM relationship managers, enabling a seamless client-advisor cooperation. It will also give users access to a variety of tools, such as the ability to create personal wealth goals and create custom scenarios to guarantee the best possible investment selections are made while minimizing investment risk.

With an instant 360-degree view of the investments, the digital platform will enable institutional and corporate customers of ATRAM to access and trade on ATRAM’s portfolio of investment products digitally. In order to facilitate the creation and integration of cutting-edge solutions, ATRAM intends to make a sandbox available to its partners. The sandbox will make use of ATRAM’s industry-leading infrastructure built on the DFS® platform from Additiv.

Deanno Basas, President and Managing Director, ATRAM Trust Corporation, stated, “To maintain our position as the leading independent asset manager, it is essential to be ready for the digital economy. By partnering with additiv, with its highly intuitive and engaging wealth platform, we can truly fulfil the needs of our relationship managers, customers as well as distribution partners, enhancing growth through focused digital financial solutions, and achieving wealth inclusion in the Philippines market.”

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OneConnect Launches OneCosmo, its One-Stop Digital Banking Solutions

OneConnect Financial Technology unveiled the launch of its one-stop omni platform, OneCosmo for entire digital banking solutions developed along with Brazil-located company, Pismo. OneCosmo’s solutions offers digital identity verification, digital lending, and core banking, and digital payments. The platform also enables integration with the help of highly flexible APIs and microservices integrate through diverse third-party service providers.

OneCosmo’s targeted consumers can now completely enrol themselves on the platform in a time of a few weeks as the platform has pre-configured, and pre-integrated features. These features enable financial institutions to customize the required specifications.

Tan Bin Ru, CEO (Southeast Asia), OneCosmo, OneConnect Financial Technology, stated, “OneCosmo represents the fruits of our labour from our strategic partnership with Pismo. Here at OneConnect, driving the digitalisation of financial institutions and banks for a greater level of financial inclusion has been our vision, and OneCosmo allows us to further amplify our vision for more institutions at a larger scale.”  With the combination of SaaS and TaaS, OneCosmo is an omni channel platform which enables us to better service financial institutions of all sizes.”

Financial institutions will be able to use OneCosmo to take advantage of real-time data streaming, giving them more insight into consumer behaviour through data analysis. Working with legacy technology can be flexible thanks to OneCosmo, which also gives financial institutions the opportunity to modify the solution suite to fit their own requirements. More than 50 million users have used the Pismo technology integrated within OneCosmo’s service as of this writing.

Vishal Dalal, CEO (North America, EMEA, and APAC), Pismo, commented, “Pismo’s mission is to help banks and fintechs deploy the next gen of innovative products on the cloud for their customers, and we’re excited to extend that mission with this new offering for Asia. The launch of OneCosmo showcases our joint commitment with OneConnect to provide institutions with the tools to perfect their digital strategy for the future of financial services.” 

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CBI Becomes the First UAE Bank to be in the Metaverse

Commercial Bank International, a UAE-based corporate and retail bank, recently launched a virtual location in the Metaverse. It opened its first virtual Metaverse location in Decentraland, a well-known blockchain-based environment, becoming the first bank in the UAE and one of the first early adopter banks in the Middle East to be in the Metaverse.

Blockchain and other cutting-edge technologies, like augmented reality (AR), virtual reality (VR), and others, are the foundation of the metaverse. Customers and the general public can explore and engage with a variety of the bank’s digital content and materials within the new Metaverse experience offered by CBI. The area has a lounge where visitors will be able to see how dedicated CBI is to advancing the UAE’s strategic goals of digitization and innovation.

The launch of CBI in the Metaverse is planned in line with the UAE’s steadfast commitment to developing a digital economy that embraces the use of blockchain technology, virtual assets, artificial intelligence, and mixed reality technologies in both a business setting and in regular consumer services.

Ali Sultan Rakkad Al Amri, CEO, CBI, said: “We are proud to be the first ever bank in the UAE and among the first innovative banks in the Middle East region to bring the Metaverse experience to our customers and people, which we believe is a strong testament to our strong support and belief in the country’s vision in being a leader in innovation worldwide. To keep pace in an increasingly digital economy and re-invent customer experience with a digitally driven perspective, we believe that the financial services sector must take some courageous and innovative steps, and we wanted to take part in this journey and become the first mover through an immersive Metaverse experience. We aim to enhance the integration of real and digital worlds, and we will continue to implement new digitization initiatives and advance technologies to serve our customers better.”

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Ahli United Bank Introduces Innovative Digital Solutions

Ahli United Bank (AUBE), one of the leading banks in Egypt, brought a new digital service, the “e-Account”. The newly launched service enables clients to open their accounts digitally through their smartphones or the bank website. AUBE is pioneering as one of the first banks to bring such a unique service in the Egyptian market.

As the bank is endeavoring to offer the latest digital banking solutions, the “e-Account” is given to customers in a safer, smoother, and faster way. In return, this will minimize the number of on-site visits to only one visit in 14 days for signing all the documents needed to activate the account in line with the CBE directives.

The newly introduced digital service gives innovative e-banking services allowing bank customers to open accounts anywhere in only a few steps. As such, the customer can easily enter the needed data after downloading mobile banking app from Google App stores or through the bank’s website. Then the consumer will then move to the branch that he/she selected during the registration procedure to effortlessly complete the procedures needed to activate the newly opened account.

Benefits of e-Account-
• Client can quickly deposit the money once the account is activated.
• Client can securely go through the account balance anywhere and anytime.
• The e-Account comes with fee-free debit card, reward points, automatic registration in the e-wallet app, SMS, & e-statement services.
• Client can access fee-free mobile and online banking services.

Osama El Sayed, Head of Retail Banking, AUBE, stated, “The bank is focused on retaining its leading position among the top digitally advanced banks to harness the customer banking experience. Hence, the e-Account service offers a variety of benefits to fulfill the demands of current and potential customers.”

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