Overview:

Standard Chartered Bank is India’s largest international bank branch network with 100 branches in 42 cities, operating in India since 1858. The banks key client segments include corporate, commercial and institutional banking, private banking, and retail banking. Standard Chartered India provides a wide range of products and services to meet the specific needs of Indian individuals and businesses.

Standard Chartered Bank wanted to launch a new wealth management solution in integration with its existing back-office system to ensure continuity. To do so, Standard Chartered India partnered up with EbixCash for their integrated wealth management platform, MoneyWare.

EbixCash is India’s largest end-to-end financial exchange and converges front-end distribution channels with back-end technology functions, across the payments solutions, travel, insurance, and financial technology industries.

MoneyWare is an integrated wealth management platform designed to run complete business life cycles, from front office to back office, on one system. It is flexible and customisable, allowing financial institutions to address client management, financial advisory, portfolio management, compliance, client reporting, and accounting.

Implementation Process:

Standard Chartered India collaborated with EbixCash to ensure a smooth roll-out of the MoneyWare platform. Several technicians, developers, analysts, and managers worked together to integrate MoneyWare with Standard Chartered India’s current wealth management function. Front, mid, and back-office integration was key to succeeding in this digital transformation.

Benefits:

MoneyWare accelerated Standard Chartered India’s wealth management digital transformation. With this digital integrated platform, Standard Chartered India gained several benefits.

Automation of existing manual process and minimisation of documentation process

Operational efficiency for AMC, investments, and compliance checks

Real-time pre trade checks before placing investment orders

Access to client-360-view and portfolio analytics for enhanced customer service

Real-time Integration with CAMS & KARVY RTA for Mutual Fund Order submission, KRA for Customer KYC Enquiry

Digital customer onboarding and online processing of mutual fund orders

Conclusion:

Standard Chartered was able to integrate with the existing back-office system to extract and migrate data of more than 25 years. This allows for digital investment order processing, business analytics and reporting through web/mobile to strengthen client relationships and optimise operations.

Key Facts

Supplier: EbixCash Limited

Headquarters: India

Founded: NA

Solution: MoneyWare

Timeline: N/A