Sector: Financial Services
Service: Design strategy and business model for Wealth Management in Asia
Location: Hong Kong
The Engagement:
Client had planned to implement a vendor solution for Wealth Management systems in South East Asia. A vendor solution was not easily adaptable to the products to be launched. The mandate was to lead the Program that would produce a strategy and business model to support new products/services in key economic areas of the South East Asia.
The Approach:
Working with a pre-existing business case, executive sponsor and key stakeholders:
- Assess options of international vendor solutions adaptable to the Asian market
- Conduct a knowledge gap analysis in the Asia wealth management space
- Conduct a gap analysis of the systems identified with wealth management products and administrative requirements in a highly regulated market
- Develop alternative strategies to support wealth management
- Make recommendations to address the capability gaps
- Collaborate with international IT teams to develop conceptual and logical architectures to support internal development of solution
- Collaborate with internal teams to develop a business architecture to support new product groupings
Outcomes:
- Successful completion of business and IT architectures.
- The output was utilized for planning activities required to build a wealth platform for Asia
- Develop a plan to train financial advisors on new wealth products and services
