In this article, Matt Gunnell, our Product Manager, Wealth Management Solutions talks about the recently launched Wealth Intelligence (WIN) Platform in detail (what it is, what we have done so far & what we have planned).

Wealth Intelligence (WIN) Platform Overview

In March 2018, we launched our new Wealth Intelligence (WIN) platform unleashing a host of new modules whilst uniting many of its award-winning wealth management solutions into one single offering. The WIN platform reinforces the strategic objectives of modularity with its open API ecosystem and data agnostic approach whilst providing seamless user experience, enriched analytics capabilities and data confidentiality and protection.

Our domain experts, with decades of business understanding and experience, have created advanced solutions to meet the needs of a rapidly evolving financial industry. The WIN Platform captures their passion for delivering innovative products that not only meet the needs of Investment and Wealth Management but also help a firm’s business scale without an increase in overhead.

Wealth Intelligence Architecture

The Wealth Intelligence (WIN) platform utilises multi-tier architecture, the principle of separating out core functions to provide bespoke customisation, advanced scalability and unparalleled responsiveness. Several machines or clusters host the WIN platform ensuring that services are provided without resources being shared and, as a result, services are delivered at top capacity. The Wealth Intelligence Platform’s data agnostic modular structure allows integration into a firm’s existing infrastructure and third-party vendors, providing an enhanced software experience.

Presentation Layer

The platform’s interactive User Interfaces utilise Angular and the Bootstrap framework to deliver Mobile-First, Responsive design to provide superior performance and scalability whilst maintaining usability for mobile and desktop endpoints. Designed with User Experience in mind, complex web-based applications remain simple and intuitive to use.

Deployment Layer

Hostable on Amazon Web Services (AWS) or via On Premise Deployment, the Wealth Intelligence platform’s container technologies support a simple, highly scalable and quick deployment model whilst increasing infrastructure efficiency. Utilising the latest monitoring tools, the platform boasts reliability whilst ensuring minimal downtime. Coupled with our responsive support network, system dependability and client satisfaction are prime objectives. This customer-centric approach is recognised by the four client-nominated ‘Systems in The City 2018′ individual awards to our members.

Business Layer

The WIN Platform’s flexible rules-based design means the system can be configured to each client’s evolving business model. Our team-based culture manifests throughout the operations but especially during implementation and support. The layer improves firm’s processes through automation, effective controls and vetting. This dynamic approach allows us to offer the most flexible, modular system in the wealth management technology marketplace.

Functionality

The Wealth Intelligence platform, designed with the user in mind, offers integrated, front-to-back office capabilities meeting the needs of Investment Managers whilst providing a wide host of regulatory compliance tools, including MiFIDII and GDPR. The platform empowers Wealth Managers to efficiently manage investments for large numbers of complex portfolios and provide high quality service to their clients. The key benefits include decision-making support for the front office, along with increased productivity via enhanced process automation and straight through processing. Exclusively, the platform provides full transparency between the Manager and the end investor.

Capital Gains Tax Module

The Capital Gains Tax Module, as part of the larger Investment Manager toolkit, demonstrates real-time capital gains and losses for each investment held as well as calculations of the accumulated cost, handling of brought forward losses and annual allowances, historical indexation and the processing of corporate actions. The calculation engine supports the current UK matching rules for both individuals and corporations, as well as historic matching rules. The calculation engine is jurisdiction-agnostic for overseas deployment. The entire service provides in-depth CGT summary reports, disposal reports and full transaction reports.

The Order Capture process has been enriched to include a CGT ‘what if’ function. This enables Investment Managers to see the impact of projected sales on a client’s holdings. The Module can be deployed as a standalone offering or as part of a wider WIN Platform. Either instance can be adjusted to account for realised gains outside of the Platform and includes the ability to upload transactions as required.

Asset Allocation And Rebalancing Module

Another recent development to the WIN Platform includes Asset Allocation and Rebalancing with enhanced rebalancing controls, flexible rebalancing algorithm focused rebalancing, partial rebalancing and greater control around stock equivalence and restrictions at a firm, model, client and portfolio level.

Corporate Actions Workflow Module

The Corporate Actions Workflow Module incorporates the entire Corporate Actions lifecycle, providing the ability to cleanse multiple sources of Corporate Actions data into a consolidated set of working terms before scheduling Corporate Actions tasks into a diary of work. The Module supports the calculation of entitlements through the readability of a client’s holdings. The WIN Platform’s End Investor Portal is available as one possible notification channel, amongst others. Similar to other modules it can be deployed as a standalone. In either instance, the Corporate Actions Workflow can process the results of entitlements, generating the necessary cash and stock situations. The Corporate Actions Workflow Module utilises WIN Platform’s Analytics capabilities providing reconciliation over the entire process.

Corporate Actions Workflow Module

Our standalone offering, Analytics, is now fully integrated into the WIN Platform. Analytics is accessible from any module to provide management information, business information and reconciliation. Analytics is data agnostic and can provide reconciliation incorporating third party services.

What do we have planned? Matt Gunnell, Product Manager, said: “We have incorporated a slightly different approach to define our Wealth Intelligence (WIN) product roadmap. The 666 Product Roadmap, whilst sounding demonic, allows us to shape our product roadmap over three distinct timelines: the next 6 years, next 6 months, and next 6 weeks.

This approach allows us to outline definitive concrete plans over a 6-week period, whilst scoping out potential improvements that will make significant and beneficial changes to the product over the next 6 months. Our 6-year goals are more aligned to how we drive our software forward to provide solutions to a rapidly evolving industry, whilst allowing us to continue to develop and innovate. This retrospective approach allows for continuous adjustment whilst allowing our clients greater involvement in our decision-making process, something I’m actively interested in improving.

Whilst our clients might not be out of the cloud of MiFID II just yet, it has allowed us a sustained period of continuous development and improvement, which will hopefully benefit our clients for the foreseeable future. I am currently refining and preparing a roadmap presentation for the Client Conference Day on the 20th September. I would encourage our clients to come with an open mind and actively discuss how we can improve our products to help make client’s lives easier. Some of our clients might have already seen a variation of the product roadmap but I’m hoping a discussion forum will allow the larger more critical points to be explored in greater detail and adjust the timelines based on client’s needs.

In the article above, we have illustrated several projects and new modules in progress. Whilst this might suggest we are only looking forward to the launch of the WIN Platform, we are also looking to improve legacy issues where possible, replacing some of the legacy technology with enhanced alternatives. Good examples are the integration of Kafka into the product, alleviating and replacing the current Data Publisher mechanism or the improvements in progress for the performance and robustness of the Performance Measurement in the WIN Platform.

We are client-led as opposed to market-led; we don’t try to fit the client to the product, but rather the product to the client. I hope that our clients see this and join us on our journey as we bring our products forward into the modern age, utilising the exciting technologies now available to us. These include products such as Blockchain and the exciting industry changes such as OpenBanking, which could have such a brilliant impact on the Wealth Management space, especially if we all collaborate.”