Since a bit more than a year Sharpfin provides first class financial software support to the progressive, prestigious and renowned wealth manager, Privatconsult Vermögensverwaltung GmbH. Using Sharpfin, Privatconsult has made their customer onboarding and advisory process fully digital, leading to more efficient client meeting, better quality of documentation and a more targeted advice to their customers. Moreover, through Sharpfins solution, Privatconsults’ clients has the possibility to see their holdings consolidated across depot bank. This is made possible because, Sharpfin daily imports and reconciles transactions from five different depot banks. For one of them, Liechtensteiner Landesbank, we recently incorporated their new interface as they ported Privatconsults depots from an old legacy core banking system to Avaloq.
Avaloq is a Swiss core banking system built on modern technology, servicing more than 150 banks world wide with a total managed volume of 4.5 trillion CHF. Due to its heritage it is especially spread across banks in Switzerland and Liechtenstein, servicing many of the larger cantonal banks s.a. ZKB (Zürcher Kantonalbank) for example.
Heiner Weber, former Executive Vice Precident Lombard Odier and Boardmember of Sharpfin quotes: “I think it is great that we now have a standard interface to a leading core banking system in Switzerland. This is an important cornerstone to set a foot print in the Swiss finance industry.”
The integration includes automatic creation of financial securities and client portfolios, load of all securities and cash transactions on a daily basis and a full reconciliation of portfolio holdings every morning.
“With this integration, we now have enabled any external asset manager with clients in an Avaloq empowered bank to be live with Sharpfin within days. This makes me really proud!”, concludes Markus Alin, CEO of Sharpfin.