Urs Tanner of Assentis Technologies outlines the firm’s products and solutions, and explains its strategy for Asia, including why it sees so much potential for its business in this region.
Date: Mar 2012
From its offices in Switzerland, New York, Singapore and other key financial locations, the solutions focus on helping financial institutions better communicate with their clients.
This includes Customer Communication Management, client reporting, investment proposals, corporate action notifications and client output in general, said Tanner.
He added that 100-plus banks already use the technology to communicate with clients in more efficient and consistent ways – from acquisition to periodic reporting cycles.
Tanner said that after 15 months in Asia so far, the company sees an important need for solutions in the client onboarding and reporting areas.
Given the focus on wealth management and private banking across the region, he said he sees a lot of demand for Assentis’ products.
Tanner added that while the firm services many global clients in Asia, a next step is to serve local clients, which want to compete more in this market.
Taking advantage of Asia’s opportunities
The main focus at the moment in Asia, said Tanner, is on first-generation solutions.
However, the fast development of the market requires banks to differentiate themselves in client communication, he explained, especially when it comes to more tailored client reporting or being more efficient in the client onboarding process, such as KYC.
Going forward, Tanner said there are different options for client reporting in Asia, based on the expected need to tailor this communication depending on the individual financial products for each client.
At the same time, mobile channels are increasingly popular in Asia – much more so than in Europe, he said. This means there is more customer client reporting, with the paper-based reports to cover more of the legal requirements.