Connect with us


Wealth Management IT Spend: Cloud Priorities in the Age of COVID-19




Wealth Management

By Awaad Aamir

COVID-19’s impact is omnipresent. The wealth management field hasn’t been spared from pandemic-driven changes. Through the haze of the initial response, the outlook for wealth management IT spending priorities is coming into focus.

While much uncertainty remains, it’s clear that the technology investment roadmap is shifting. The coming three years are likely to be a time when most wealth management firms move forward cautiously. Until the initial fallout from the pandemic eases around mid-2021, budgets will likely stay on hold. Decreases in revenue may impact IT spending that had been planned for 2020 and 2021, with non-essential projects being put on hold and resources shifting to support the digital capabilities focused on client engagement. The next phase, 2022–2023, will likely see IT spending growth.

Source: Celent

One of the top areas of shifted focus for 2020–2021 is accelerated investment in high priority, mature technologies that were being already being considered before the pandemic. Cloud migration is among the most common areas of emerging technology investment, as revealed in Celent’s Wealth Management CIO Survey (March 2020). Other areas of focus include cybersecurity, digital onboarding, and biometric authentication. Looking slightly further out to 2022–2023, the focus on cloud migration is expected to deepen. Wealth management firms can embrace this trend by supporting implementation of a hybrid advice model which will position them to serve clients digitally—at a safe distance.

Innovative Uses of Cloud in Wealth Management

Innovative wealth managers are already using cloud to derive cutting edge insights and facilitate digital experiences. Firms are prioritizing proven technologies while also adjusting their business models to concentrate on survival. Cloud adoption supports strategic initiatives by improving technological capacity and time to market for new products and services, while reducing the number of legacy systems. Cloud adoption has also been proven to decrease spending on external hardware.

Some wealth management firms are accelerating toward a multi-cloud deployment architecture, in which a firm splits its deployments across multiple cloud locations, selecting best-in-class cloud services from public cloud providers (such as AWS, Azure, and Google Cloud) and private clouds. Larger wealth management firms are now migrating away from mainframe computing and toward a multi-cloud approach. This enables faster deployments, optimized scalability, and enhanced client experience. Current examples of multi-cloud in wealth management include Banco Sabadell hosting its infrastructure on IBM public cloud to modernize applications; UBS migrating its 25 data centers to Azure; and HSBC re-architecting its core platform with Google Cloud.

Cloud adoption also allows wealth management firms greater access to enhanced data analytics and artificial intelligence (AI) capabilities. Wealth managers are employing existing technology stacks within public clouds. These public cloud services are tools that enable frictionless deployment of AI and machine learning (ML) functionalities to the front office. Vanguard now utilizes AWS’s cloud integrated models that deliver bespoke, data-driven analytics and portfolio recommendations. RBC has unveiled a private AI cloud that brings transformative intelligent applications to market in record time. TD is relying on Azure for services that derive customer data analytics for 100 million daily records of data.

As the focus on cloud migration deepens, so will adoptions of SaaS and multi-cloud solutions. Wealth managers will shift to a remote advisory model. Doing so requires them to reprioritize their development roadmaps, and optimize their operating model in order to provide hyper-personalized offerings in an expanded product set. Multiple steps are required to achieve a frictionless advisor-client experience across a geographically dispersed environment. Cloud adoption is likely to be the highest priority mature technology driving these initiatives forward. Additionally, bandwidth from 5G have the potential enable remote collaboration/ work models as advisors shift towards a contact-center like model.

Next Steps

To prepare for the coming technology changes in wealth management, firms should embrace a holistic view of how cloud fits into its transformation plans:

  • Don’t automate. Wealth management is a relationship-centric business. Interpersonal interaction is key. An advisor’s core value proposition is personalized advice and attentive service. Firms must view technology as an “enabling tool,” not a “replacement tool.” Stay focused on this as you migrate to and embrace cloud technologies.
  • Recognize the need for speed. As wealth management firms move toward a hybrid advice model, as supported by cloud services, they must prepare to provide clients’ expectations to meet the standards established by big tech and fintech. Prioritize remote communication and frictionless onboarding.
  • Lead from the back. Digitization of the back office is just as important as front office innovations. Seamless flow of data across the IT stack supports effective integration of the CRM and financial and portfolio management tools. Together these foster an expert, team-based servicing model that aligns with client needs.
  • Resist the urge to save. COVID-19 may drive immediate cost-cutting measures, but focus on the long term. Support innovation by reallocating (rather than cutting) resources.

Awaad Aamir is a wealth management analyst at Celent, a global research and advisory firm focused on technology and business strategies in the financial services industry


Big Data

Accendo Banco chooses global fintech infrastructure platform Nium to provide international money transfer capability




Accendo Banco chooses global fintech infrastructure platform Nium to provide international money transfer capability

Accendo Banco (“Accendo”), Mexico’s leading ‘digital-first’ challenger bank focused on providing innovative digital banking solutions, today announced that it has expanded its capabilities in international payments and remittances, through partnership with Global fintech infrastructure platform Nium.

The partnership further expands Accendo’s overseas money transfer capabilities, allowing its customers to send money to more markets overseas and in real-time[2].  The move supports Nium’s continued plans to utilise fintech tools to improve business efficiency and customer experience in LatAm, and follows several partnership announcements by Nium in Brazil, Costa Rica and El Salvador.

Accendo’s customers will be able to send, through an app, funds overseas to major corridors in Europe and Asia easily, and at a lower FX rate than other banks.  “International transactions services from Mexico were slow and expensive.  The partnership with Nium, together with our unique digital platform, makes us the first bank in Mexico to offer this type of operations to users easily and in real time,” said Javier Reyes de la Campa, CEO and President of the Board of Accendo Banco.

“This partnership also reinforces our positioning as the leading digital-first challenger bank in Mexico, where we are the first bank to offer BaaS (Banking-as-a-service) through our cloud-based open-banking platform to allow Fintechs to offer financial services to all the population, and especially the unbanked”, Javier concluded.

“We are thrilled to be the trusted provider for international money transfer services for Accendo Banco and its customers. In today’s competitive payments environment, cutting-edge technology improves customer experience and sets providers apart,” said Rohit Bammi, Global Head of Institutional Business, Nium.

 “Nium’s mission is to create a global fintech infrastructure that can enable banks, financial institutions and other fintech companies to launch and scale innovative digital financial services without the complexity, time and cost previously required to do so.  This partnership with Accendo Banco is a testament to that effort,” Rohit continued.


Continue Reading

Big Data

How cloud computing can empower e-commerce




How cloud computing can empower e-commerce

Instead of keeping your data in one single machine, cloud hosting, in particular, involves storing your data in several different devices whereby each machine has different server and are in different locations, but all are connected and work as one.

In this article, I will be giving an overview of the benefits of cloud hosting. The data can be accessed and managed in all the servers across the cloud using virtual machines.

The hosting server isn’t a single physical device but only occurs in a virtual environment made up of a server cluster, therefore the name cloud.

Besides the fact that cloud hosting makes use of the computing power of any amount of machines means that you not only have the vast potential compared to traditional hosting but also it permits you to access other services that are provided by other devices.

E-commerce hosting, on the other hand, is simply a service that allows you to host a website with a pre-installed online store platform to ease the creation of your very own online store.

Consequently, an e-commerce website tends to be different from other websites. The site needs some additional functionalities and features to develop a maintainable set-up for making sales.

The additional features involve adding a shopping cart, payment processing services, database support, and security initiative. E-commerce hosting is simply cloud hosting that can support all requirements, like paying processing service and other specialized.

Cloud e-commerce solutions

Cloud e-commerce means the process where the centralized remote computer is hosted on the internet fully utilizes the exertion service and storing information process.

It gives a range of advantages over the traditional method of on-premise storage.

The best cloud solution should offer fast, more reliable, and dedicated solutions and services for both ease of use and power. You should opt for no less than 99.9% server uptime.

Another reason why I would recommend this service provider is that they allow for growth. You can start small and advance with them as you grow your business, which is also a great advantage for small scale businesses.

Within the last decade, the cloud has gained popularity because it’s cheap to maintain and reduced complexity. To this day, the cloud has become an optimal solution model on the arcade.

Scalability and demand

A workload forms in the e-commerce hosting because of the traffic variabilities with its seasonal spikes. The hardware that is required should be able to handle the seasonal traffic peaks (Black Friday, Holiday Sales, etc.)

Business growth is the other side of scalability. It includes increasing the popularity of your store by integrating new services and further store evolution that enhances the business’s growth.

The e-commerce solution should be a flexible platform and a scalable environment that offers quick responses to business encounters and prospects.

When using cloud hosting there is no need to buy extra equipment and hiring new staff for maintenance services. With cloud hosting, your business can acquire all the required ceremonies and resources on demand.

Reliable protection

The advantage of pro protection is that it saves your time on assessing your risks and data defense, and this gives you ample time to focus on your business. Hosting your business on the cloud, the cloud vendors are the ones who take all the risks.

As a business owner, you don’t have to be troubled by your network security and protection, personal and customer files safety, or data encryption. The cloud hosting providers usually finish third-party certification, and security is their priority.

Apart from accessing your website with regular backup, you should ensure that your e-commerce store is readily available, and there is no data loss in case there is an emergency.


The cloud is a perfect suit for e-commerce because you only pay for the resource when you only need them.

With cloud solutions, a company can reduce its overall expenditure by up to 70% on building static environments, scaled for traffic peaks. For instance, the hardware used for several days in a year for the cloud you pay when you use a resource.

Accessible from any place

If your business operates internationally, then a cloud solution provides a vivid advantage taking into account the speed required to control and e-commerce application.

With cloud e-commerce, you have an isolated network of servers that quickly respond to your desired demands to take content fast without considering the customer’s location.

Infrastructure as a service (IaaS)

It is a type of cloud service that mainly focuses on issuing virtual servers and on-demand data storage on disk. Customers can purchase the remote datacenter infrastructure service, which is better than buying their hardware.

Benefits of cloud computing for e-commerce

There are several fabulous benefits you get to enjoy using cloud hosting which includes:


Traffic spikes happen when you have a product launch or a discount day on your e-commerce site. Still, online businesses get to enjoy a healthy balance by cloud hosting. It prepares for the congestion spikes by hosting the set-up in high-tech cores for the concord of awareness.


If your business uses cloud platforms, you could be enjoying one of the advantages of speed that no on-site infrastructure could provide. A well reliable e-commerce site would insinuate and rising curve in your selling graph.


For those who want to build an online presence and reputation, cloud hosting provides a considerable saving for a business basing on the fact that you only have to pay for what you pay. The profits in conservation can go into expanding other parts of the company.


Trust is very fundamental in the e-commerce world. The customers trust that the product you have described is correct, and it is the same that will be delivered. They also provide confidential payment details. The customers believe that their credentials are secure.

With cloud computing, you get PCI-DSS certified hosting. Besides, cloud computing can assure superior security measures that protect the DDoS attack, leading to customers losing confidence if the website is reliable.


Cloud hosting is a powerful solution that is especially useful for e-commerce and online store maintenance. You get power, stability, and improved security – which is all essential for improving conversions. I hope this article helps you make an informed choice for your business. Good luck.


Continue Reading

Big Data

Konsentus launches international Open Banking Hub




Konsentus launches international Open Banking Hub

Konsentus today announced it has launched an international  infrastructure platform with the ability to accelerate a country’s implementation of open banking. 

The Konsentus Open Banking Hub (OB Hub), a SaaS based solution, runs in a national  cloud infrastructure, has end to end functionality and helps create, support and secure vibrant open banking economies across the globe.  

The OB Hub removes the complexity involved in setting up a central and secure open  banking ecosystem within a country, enabling regulated entities to quickly and easily share  data and execute payment transactions with each other. The OB Hub has three core  components. 

  1. i) Participant on-boarding and registration services 

Through Identity and Verification services, authorised participants (both organisations and  individuals) can register and on-board within the open banking ecosystem enabling them to  share data and execute payment transactions with other regulated entities in a secure and  safe environment.  

  1. ii) Directory Services 

A central directory service that participants can access in real time, online, 24/7 to verify the  identity and regulatory status of individual entities when transaction requests are made. The  OB Hub is a central repository of the latest available regulatory information on all registered  and regulated entities. This includes performance and availability data, contact details, data  updates and revocation information and history for all participants


iii) Certificate Authority  

The OB Hub issues and manages the digital credentials of all participants in the open  banking ecosystem. This enables participants to positively identify themselves to other  regulated entities in order to perform open banking transactions such as sharing data and  executing payment transactions. 

The OB Hub provides a rich data management system enabling national authorities to  monitor the adoption and success of open banking in their country. An immutable audit log  is a record of all transaction requests, providing valuable information for dispute  management processing. Quick and easy to set up, OB Hub provides a trusted central  system, enabling all regulated entities to interact with each other in a safe and secure  environment.  

Additional elements of the OB Hub enable publication of National API standards, a third party provider (TPP) testing sandbox, a central API and App marketplace, and an API  monitoring service to show real time national API performance. 

All the above comes with a secure messaging platform for participant to participant  messaging reporting and a dedicated helpdesk for support services.  

In addition to the onboarding, directory and certificate checking services, the complete Konsentus OB Hub solution delivers a programme management forum to educate market  participants, alongside testing and support services to enable a fully functioning national  open banking environment. 

Mike Woods, CEO, Konsentus, commented “The creation of a central open banking  platform enables us to help individual countries realise their open banking ambitions without  having to understand, build and execute their own systems. We already deliver first-class  technology that’s scalable, resilient and built for maximum availability. Data consolidation,  standardisation and formatting in a secure real-time, online environment are why we are  global leaders in our field and the trusted partner for safe and secure open banking  economies.” 


Continue Reading


inAtlas en el Top Ten de las principales empresas en Location Intelligence




inAtlas en el Top Ten de las principales empresas en Location Intelligence
  • La revista IndustryWired sitúa a inAtlas entre las diez principales empresas de Inteligencia de Localización con herramientas efectivas para el éxito empresarial

–   inAtlas ha desarrollado Geomarketing, una aplicación eficaz y útil basada en la Location Inteligente que detecta las zonas de mayor rentabilidad y optimiza las acciones de captaciones de nuevos clientes y retenerlos

La Location Intelligence o Inteligencia de Localización se ha convertido en una tecnologia ágil y eficiente que recopila, analiza datos geoespaciales con aplicación práctica en los diferentes sectores económicos y permite lograr el éxito de las empresas.

La revista IndustryWired, conocida por su gran impacto en el sector tecnológico, en su reciente artículo Top 10 Location Intelligence Companies Redefining usiness Success, sitúa a inAtlas, empresa especializada en Location Analytics que ofrece soluciones estratégicas de negocios basadas en la ubicación, en el ranking de las diez mejores empresas de Inteligencia de Localización que utilizan esta metodología para optimizar los éxitos ante los desafíos empresariales al detectar tendencias, adelantarse a sus competidores y tomar decisiones más inteligentes.

 La publicación realiza un análisis acerca de la efectividad de utilizar herramientas de Location Intelligence para conseguir éxito en el desarrollo de estrategias empresariales y toma de decisiones eficaces mediante la integración de datos de ubicación generados a partir de diferentes fuentes como comportamientos del consumidor, factores ambientales, IoT o sistemas GPS entre otros. La aplicación de Geoanalitica online de inAtlas, apunta la revista, ayuda a los clientes a realizar planes de negocios, diseñar campañas de marketing, encontrar nuevos clientes, implementar estrategias de geo-marketing o encontrar lugares ideales para nuevos puntos de venta y franquicias.

Además, recoge los diferentes servicios de la compañía, sus soluciones comerciales sectoriales, servicios de geolocalización, generación de leads, geomarketing, monitoreo de la competencia, análisis predictivo y prescriptivo, mapas de expansión y los modelos de propensión a compra.

 inAtlas, ha desarrollado Geomarketing, una herramienta que relaciona contextos geográficos con datos de los mercados empresariales y sociodemográficos para negocios B2B y B2C. Esta aplicación se fundamenta en la Inteligencia de Localización y ofrece un amplio abanico de soluciones y utilidades, para bancos, empresas de seguros, inmobiliarias, retails, empresas de sector telecom y energía,cadenas de franquicias, redes de negocios, aportando valor añadido, para simplificar el proceso de toma de decisiones de negocios.

Geomarketing, permite sincronizar de forma continua la información interna del negocio, gestionadas por CRM, Softwares de Business Intelligence y ERP con información actualizadas de los mercados de empresas y hogares, oferta inmobiliaria, catastro y bases de datos sectoriales en la totalidad del territorio de España y Portugal.

Gracias a la Inteligencia de LocalizacióninAtlas, detecta cuáles son las zonas de mayor rentabilidad, hecho que permite optimizar las acciones de captaciones de nuevos clientes y retenerlos. “Conocer la monitorización del comportamiento de los clientes, competidores y proveedores de un área elegida, junto con la localización y el comportamiento de una empresa en el mapa aumenta la competitividad de las empresas al ser capaces de actuar con diligencia, anticiparse y encontrar oportunidades de negocio”, asevera Silvia Banchini.


Continue Reading
Blockchain2 hours ago

Litecoin Searching for Support After Falling from 2020 High

Techcrunch2 hours ago

Wall Street needs to relax, as startups show remote work is here to stay

Blockchain3 hours ago

Bitcoin Worth $3B from PlusToken Ponzi Scam Seized by Chinese Authorities

Blockchain3 hours ago

Bitcoin Still Hunting for a Bottom After Losing Support

Techcrunch3 hours ago

UK to set up ‘pro-competition’ regulator to put limits on big tech

Big Data4 hours ago

Accendo Banco chooses global fintech infrastructure platform Nium to provide international money transfer capability

Blockchain4 hours ago

Facebook’s Libra to Launch Dollar-Pegged Stablecoin in January

Gaming5 hours ago

The Basics: Popular Casino Games You Should Play

Blockchain5 hours ago

Black Friday Crypto Deals Aplenty While Bitcoin is at a Discount

Press Releases5 hours ago

The International Vaccine Institute Supports a Global Campaign to Reduce the Spread of Covid-19

Esports6 hours ago

T1 re-signs top laner Canna, extends contract until 2022

Energy6 hours ago

JinkoSolar to Report Third Quarter 2020 Results on December 7, 2020

Energy6 hours ago

EWPG Holding AB: Interim report for the period 1 January – 30 September 2020

Esports8 hours ago

Khan joins DAMWON as team’s new top laner

Cyber Security8 hours ago

Different ways tech plays a key role in securing igaming platforms

Techcrunch10 hours ago

Alibaba vies for a piece of China’s booming EV market

Energy12 hours ago

LONGi suministra 273MW de sus módulos solares a la mayor planta solar del Sureste de Asia

Techcrunch13 hours ago

Gift Guide: Black Friday tech deals that are actually worth checking out

Esports14 hours ago

Super Smash Bros. Melee Slippi mod launches broadcast feature early in response to #FreeMelee

Esports14 hours ago

The 7 best low-back gaming chairs

Esports14 hours ago

Heroic move past Endpoint in BLAST Premier Showdown

Big Data15 hours ago

How cloud computing can empower e-commerce

Esports15 hours ago

Na’Vi brings Mag back from inactive roster to coach Dota 2 team

Esports15 hours ago

Fantasy games live for DreamHack Masters Winter and Flashpoint 2 playoffs

Energy17 hours ago

Worldwide Hybrid Diesel Genset Industry to 2026 – Key Drivers and Restraints

Techcrunch17 hours ago

Facebook’s latest ad tool fail puts another dent in its reputation

Energy17 hours ago

The Neutrino Energy Group Transcends the Theoretical to Transform Practical Energy Use Worldwide

Esports18 hours ago

How to activate crossplay on Rainbow Six Siege

Esports18 hours ago

Pokémon teases 25th-anniversary celebration during Macy’s Thanksgiving Day Parade

Energy18 hours ago

ChemPoint es seleccionado como distribuidor de los productos de Soluciones Especializadas de DuPont para México