Globacom Technologies: Digital Client Engagement for Wealth Managers

Vijay Kartha, CEO, Globacom TechnologiesVijay Kartha, CEO
As is increasingly the case, the survival and growth of a company in its industry is centered on adapting to change, and in the wealth management realm this is especially true. The clients’ demand for a whole new level of visibility, real-time personal interactions, more control over their financial decisions and assets, is driving a bevy of technological advancements and regulatory changes to be brought in to better address these needs. A recent PwC study suggests that organizations must enhance their current operating model by designing an onboarding strategy for generation X and millennials, who by 2020 will have control over half of all investable assets. One FinTech firm that has taken a leading role towards bringing in a sophisticated, potentially disruptive business model with its wealth management capabilities is Globacom Technologies.

Formed by former leaders in the wealth management technology space in 2010, Globacom was founded with an aim to address such expectations by creating a digital client engagement platform with a scalable, flexible, configurable, and white-labeled solution that helps wealth managers meet their investors’ needs. At the core, the company is driven by the idea to prepare wealth management institutions for the age of digital transformation and disruption. The CEO of Globacom, Vijay Kartha states, “We are bringing in specialized expertise in the investment management, regulatory space, where intuitive client-facing technology solutions are critical to business success.” The company’s flagship solution, Investrack Suite is a modular end-to-end client engagement tool designed to onboard, engage, grow and retain wealth management clients and introduce money-saving efficiencies. The platform’s open architecture allows financial institutions to integrate with legacy or any back-end or cloud systems to integrate their clients’ data wherever it may be, helping them to create offer meaningful services and thus enjoy a closer relationship with their clients.

One of Investrack’s module— Investrack Client/Advisor portal—is an interface that helps advisors and clients alike, making it easy for wealth managers to build their own customer engagement strategies and enhance efficiencies. This module enables banks to keep track of their customers’ activities across all their internal business lines—maintaining a clear log of all the transactions, configuring the workflow of these transactions, statement delivery and preserving their confidential documents and allowing them to trade. Adding flexibility to Investrack Client/ Advisor portal is a highly optimized enterprise application integration architecture, ReachOut+ integration module. This architecture is fine-tuned to address comprehensive customer engagement requirements by enabling banks to connect the dots in customer interactions. Furthermore, Investrack Onboarding Suite, is a fully mobile-enabled solution that is seamlessly integrated to Investrack’s cutting-edge platform. The onboarding solution offers a rich functionality to onboard new clients from risk appetite assessment to model selection and investment proposal generation—ultimately enhancing the overall operational efficiency.

One example of how our integrator can help financial services institutions improve their client engagement is through mobility. Rolling out a single user interface to their clients, irrespective of the bank’s products, such as savings, current, deposit, investment accounts, and credit cards, etc., can pose a major challenge in this strategy as firms can have information stored in multiple back-office systems and thus require a product to extract and seamlessly integrate all of those information. With Investrack ReachOut+, we are able to integrate all their clients’ systems and applications in a highly secured manner allowing access to all their accounts in real time by logging in just once, be it savings or current account, investment account, or credit card. Thereby our clients can deliver a smart customer engagement platform—a requirement of the new generation of investors and customers.

In terms of future enhancements, Globacom Technologies is looking towards refining and improving their products by leveraging the quick evolution of information technology. The future go-to-market plans for the firm is to expand its client base in the APAC, and Sub-Saharan Africa, to add to their strong client base in EMEA.