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Intellect Launches RM Office 2020 for Wealth Managers

Posted On: 2019-12-04 12:39:16

Intellect Design Arena Ltd, a specialist in applying true Digital Technologies across Banking and Insurance, announced the launch of the RM Office 2020 for wealth managers, its marquee product from its suite of digital wealth management, the Wealth Qube. Having been tested as a controlled release in multiple countries, the RM office 2020 is now being released for all banks and financial institutes across the three key geographies of Asia-Pacific, GCC and India.

RM (Relationship Manager) Office, an integral component of Wealth Qube, is a fully integrated platform designed to empower the Relationship Managers. Built on a design framework of 6 Offices, 23 Desks and 136 Tools, Wealth Qube allows the full digitalization of target operating model for relationship centric, one-stop digital Wealth Management Business. Wealth Qube promises to deliver Advantage 2020 - delivering 20% annual increase in revenue and 20% reduction in cost to deliver that revenue.

The Challenge for Effective Advisory - Applying Design Thinking

The changing dynamics in the wealth industry have created a much larger pool of wealth customers to serve; who are demanding and are looking for a differentiated and personalized service at their convenience. The emergence of this new yet very discerning segment of wealth customers has led to the AUMs becoming smaller, placing a larger demand on the wealth managers' time. At the same time greater competitiveness in the industry has led to a greater churn in wealth managers. With customers ready to migrate to wealth managers who provide intuitive and quick advisory, there exists a big opportunity for the fleeted RMs who are able to effectively and efficiently serve the customers.

Intellect applied Design Thinking to solve its complex problem and completed holistic 6 dimensional needs to empower RM.

Creating the Empowered RM

Wealth Qube delivers the 2020 advantage by fully empowering the RM to service the customer at the convenience of the customer.

An Empowered RM is Intellect's promise. Mobility is the starting point and not the end point of empowerment. To make the RM empowered, she/he should be able to access the information in a span of few seconds. RM Office's Financial Wellness Spectrum Card is a proprietary design of Intellect that allows for two hop access to all the relevant customer information. Powerful 3-D compliance allows pushing the boundary of empowerment allowing the RM to take decisions and place orders on behalf of the customers.

A completely guided digitized journey bound by strong supervisory capabilities, help the RMs deliver better performance against their set goals, leading to higher sense of accomplishment and productivity. RM office is one of the 6 offices under Wealth Qube. The word 'Qube' which reflects the solidity and completeness of a cube; has each side of the cube represented by 1 of the 6 offices of the Wealth Qube offering. The six offices that form part of Wealth Qube are Relationship Manager Office; Customer Personal Office (CBX-W); Operations Office; Risk and Compliance Office; Fund Managers Office and; Trust Office - each replete with its set of desks and tools, aimed at automating complete functionalities of each of the verticals in the wealth management business.

With the business headquarters based out of Singapore, Wealth Qube is an enterprise grade wealth management solution that has been successfully tested with leading banks in the region. Wealth Qube belongs to the Intellect family of Products. Having provided solutions to some of the key visionary banks in the geographies of Asia Pacific - Singapore, Malaysia, Thailand, Philippines; India and the GCC regions, Intellect's Wealth Qube is set to foray deeper into these markets to be the partner of choice for key wealth management firms.

Jaideep Billa, President, Wealth Management, Intellect Design Arena said, "Wealth Qube -2020 gets its 2020 moniker from its promise to deliver 20% growth every year with 20% reduction in Business operating costs. This solution has already been well tested out in the market with our early launch customers in 6 countries namely Singapore, Malaysia, Thailand, Philippines, India and the UAE. We now hope to deliver the same advantage of these early movers to other institutions. With rapidly growing prosperity across the world and anemic interest rates, we are seeing that Wealth will be the fastest growing business for banks and financial institutions. We are excited to work with our customers to help create leaders in wealth."

Shares of Intellect Design Arena Ltd was last trading in BSE at Rs.152.9 as compared to the previous close of Rs. 151.15. The total number of shares traded during the day was 11557 in over 334 trades.

The stock hit an intraday high of Rs. 154.3 and intraday low of 150.4. The net turnover during the day was Rs. 1757422.

Source: Equity Bulls

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