Challenges
Enhancing Portfolio Management
Cité Gestion was looking to enable its wealth managers managing portfolios deposited in other banks in a more efficient way than having to connect with multiple e-bankings.
The main goal of the project was to fully integrate and automate trading workflow with multiple custodian banks into a unique central platform via FIX connectivity. The view of all portfolios deposited outside the bank through a single system was the other objective.
In addition, new points of data are collected which previously could only be sourced by the banks’ e-banking solutions such as providing granularity on transactions fees and performance contribution.
With these objectives in mind, Cité Gestion found in WIZE by TeamWork a partner with similar mindset to collaborate and grow jointly.
Revolutionizing Wealth Management
Cité Gestion selected WIZE for multiple reasons: the proximity of the team, common language and maturity that provides a positive environment for growth.
WIZE allows management of accounts directly from the platform no matter the custodian bank, offering gains in productivity and simplifying the view of client portfolios. This increased simplicity is a gamechanger for onboarding new managers.
This makes Cité Gestion the first bank to offer to its wealth managers the possibility to trade multi-custodian accounts from a single platform, demonstrating its proactivity in streamlining its processes through digitalization
In turn, WIZE met the requirements of a client differing from the traditional asset manager.
Indeed, WIZE proved to offer guidance in change management and was able to adapt and follow the schedule to meet the needs of a banking institution that varied from the independent managers. The strong impulse from management on Cité Gestion’s side and the excellent communication eased this whole process
An efficient and streamlined application was the core of our objective,
providing our bankers with the best tools to operate.
Andrea Baldassa – Cité Gestion
Results and Benefits
Immediate and Long-Term Benefits
The immediate benefit is a 360-degree view of accounts with daily updates, facilitating investment decisions and order transmission.
Additional results and benefits are expected on the long run from upcoming milestones including the increase of FIX scope with the integration of new banks and new instrument types.
Perspectives
Successful Milestones
This successfully led project by WIZE is characterized by a close client relationship, with WIZE paying attention to the needs and meeting the requirements of Cité Gestion despite the challenges. The first milestone is an achievement, and the project keeps growing with approaching next steps to tailor even more the solution to Cité Gestion needs
“The project is going very well with an excellent orchestra conductor on Cité Gestion side and a real impulse given by the management; it is great to work with Cité Gestion on these grounds.”
